Economy

Tuesday, December 2nd 2008 - 20:00 UTC
Unemployment up is Spain: almost 3 million jobless

The number of people filing for jobless benefits in Spain soared to almost 3 million following a 6% rise in unemployment during November. The Labour Ministry said Tuesday that an additional 171,243 people signed on for unemployment benefits last month, bringing the total to 2.99 million.
Monday, December 1st 2008 - 20:00 UTC
Argentine industrial sector wants lower Peso to prop exports

Argentina's industrial sector is demanding that the government of President Cristina Fernandez de Kirchner lower the value of the peso to improve exports in a move to overcome the economic crisis.
Monday, December 1st 2008 - 20:00 UTC
Brazil's surplus up but volume of trade down in November

Brazil's trade surplus widened in November as imports fell by more than exports, the trade ministry said on Monday.
Monday, December 1st 2008 - 20:00 UTC
UK manufacturing slowdown continues to take hold

British manufacturing fell at a record pace in November as the slowdown continued to take hold, the latest figures have revealed.
Monday, December 1st 2008 - 20:00 UTC
World economy heading for first contraction since 1930, warns UN

United Nations said on Monday the world economy faces its worst downturn since the Great Depression. It expects world economic output to shrink by as much as 0.4% in 2009, due to a slump among developed countries - particularly the US and in Europe.
Monday, December 1st 2008 - 20:00 UTC
UK state-control banks mellow home repossession actions

Britain's Royal Bank of Scotland has announced that it will give struggling homeowners at least six months before launching repossession action. The NatWest parent said it was doubling the three-month breathing space currently offered to borrowers who fall behind with mortgage repayments.
Monday, December 1st 2008 - 20:00 UTC
CFK administration increasingly jittery about global crisis

Argentine President Cristina Fernández de Kirchner's government defended the controversial financial incentive scheme proposed in its anti-crisis bill last week, which will be debated this week in Congress, stating that there is “no chance” it will promote money laundering.
Monday, December 1st 2008 - 20:00 UTC
UK has no plans to join the Euro, says PM Brown's office

The British government has denied a shift in policy on the Euro after the European Commission's president said the UK was “closer than ever before” to joining.
Monday, December 1st 2008 - 20:00 UTC
Fiscal deficit no longer a “dirty word” for Chilean gov.

Chile's Finance minister said one month's fiscal deficit is “no problem” and minimized the impact of the strong increase in government expenditure in October as in most of the other nine months.
Monday, December 1st 2008 - 20:00 UTC
It's official: US has been in recession since December 2007

The US National Bureau of Economic Research said Monday that the US has been in a recession since December 2007. The NBER said that the deterioration in the labour market throughout 2008 was one key reason why it decided to state that the recession began last year.