Lloyds Banking Group is to axe thousands of jobs next year in a fresh wave of cuts under plans to reduce costs, sources have said. Up to 5,000 positions are expected to be cut in the UK in 2010, on top of thousands already slashed this year.
United Kingdom affluent shoppers hit by the recession are fuelling a shoplifting crime-wave, according to research. Middle-class people reluctant to give up luxuries they can no longer afford are behind thefts of expensive foods, alcohol and cosmetics, the Centre for Retail Research data claimed.
Brazilian Foreign Affairs minister Celso Amorim will receive Monday in Rio do Janeiro his Argentine counterpart Jorge Taiana to discuss several issues of the “bilateral agenda” including, according to Argentine diplomatic sources the ongoing “trade differences”.
Finance ministers from the Group of 20 industrialized and emerging market economies pledged to maintain economic stimulus measures until recovery from the global crisis is assured and asked the IMF to assess whether countries were on track for delivering strong, sustainable, and balanced growth to avoid future problems.
Brazil's Petrobras said on Friday it is still studying drilling results from lot 58 in Peru's Amazon and has yet to estimate natural gas deposits there, a day after Peruvian President Alan Garcia said the company struck a large find.
Mining and construction industries have led Chile’s economic recovery, according to a recently released economic report.
British Airways reported a record pre-tax loss Friday of more than 485 million US dollars, another setback for the airline as it faces the threat of strikes over the Christmas period.
The prevalent dollar-carry trade, in which investors borrow US dollars at 0% interest rates, to park in risky assets across the globe could come to an end in the foreseeable future, which may result in a major crash in such risky asset classes such as equities and commodities, according to economist Nouriel Roubini.
The unemployment rate in the United States rose to 10.2% in October, which was its highest rate since April 1983, according to figures from the US Labour Department.
Unemployment in September was 9.8%.
The European Union and Mercosur closed on Friday a three-day round of talks unable to re-launch the stalled trade negotiations, although both sides were quick to point out to the “advances” of the last five years.