• Air France-KLM may cut a further 3,000 jobs: CEO Air France-KLM, Europe's biggest airline, may need to cut a further 3,000 jobs but only through natural attrition, its chief executive said on Friday.
Asked to comment on a report in French daily Le...
• Struggling British Airways asks its 40,000 employees to work without pay British Airways is giving staff the option of working without pay for up to a month in order to "play their part" in what chief executive Willie Walsh describes as a "fight for survival".
The...
• Latvia cuts pensions, salaries to avoid bankruptcy The Latvian government has agreed to slash pensions and state sector salaries in a bid to keep the country afloat financially. Riga must cut costs to qualify for more financial aid from the EU and...
• Negative data hits Japan recovery hopes (Press TV) -- Hopes for a Japanese economic recovery have been abandoned as new data shows Japan's core machinery orders fell by 5.4% in April. The fall marked the fifth consecutive month of...
• Russia May Swap Some U.S. Treasuries for IMF Debt Russia may switch some of its reserves from U.S. Treasuries to International Monetary Fund bonds, the central bank said today. The comment drove Treasuries and the dollar lower. Alexei Ulyukayev,...
• China's Hidden Bankruptcy Throughout 2008, only 3,500 enterprises formally filed for bankruptcy in China. Hiding behind this tiny number however is the approximately 800,000 businesses that exited the market by either...
• Ireland suffers fresh S&P downgrade Ireland’s sovereign credit ratings were cut for the second time in three months on Monday amid heightened concern about the soaring cost of bailing out the country’s ailing banking...
• ECB to Flood the Zone with Euros The European Central Bank will likely hold rates on June 4 but venture into 'quantitative easing,' or boosting the money supply by buying bonds The European Central Bank is expected to reveal a...
• UK: Factory job losses forecast to reach 188,000 Some 188,000 factory workers will lose their jobs this year – more than 40,000 above what was forecast just two months ago. Alongside its latest grim prediction on jobs, the manufacturers'...
• Euro Cuts Profit as Nobel Laureate Sees Rally Unwind The euro’s steepest three-month rally against the U.S. dollar in seven years is sapping the earnings of exporters in the 16-country region and delaying its recovery.
That’s why Deutsche...
• Europe May Retail Sales Fall as Unemployment Rises European retail sales declined at a faster pace in May as rising unemployment prompted consumers to hold back spending, the Bloomberg purchasing managers index showed. The gauge of euro-region sales...
• US dollar 3-month interbank lending rate edges up The cost of three-month dollar loans edged up from record lows Wednesday after falling consistently for the past month amid rising hopes that the worst of the global recession has passed.Read more
• China stuck in ‘dollar trap’ China’s official foreign exchange manager is still buying record amounts of US government bonds, in spite of Beijing’s increasingly vocal fear of a dollar collapse, according to officials...
• Britain's debt outlook lowered to negative Britain faces the unsettling possibility of seeing its debt rating downgraded after Standard & Poor's said yesterday it has revised the country's outlook, from "stable" to "negative." Though the...
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