International

• Wednesday, October 12th 2011 - 21:30 UTC

  UK unemployment at its highest since 1994 reaches 2.57 million

  

  Unemployment in Britain has jumped to its highest level since 1994, with young people hit hardest as private companies fail to make up for job losses in the public sector, piling pressure on the government to boost a stagnant economy.

• Wednesday, October 12th 2011 - 21:28 UTC

  Slovakia parties agree to vote for Euro rescue plan, and advance elections

  

  Parties in Slovakia's fallen government struck a deal with the leftist opposition Wednesday to ratify a plan to bolster the Euro zone's rescue fund by Friday, effectively ending a crisis that had threatened the currency's main safety net.

• Wednesday, October 12th 2011 - 21:26 UTC

  EC president calls for decisive action on Euro banks recapitalization and Greece

  

  The president of the European Commission called Wednesday for EU leaders to bring forward the introduction of a permanent rescue mechanism for states to mid-2012 from mid-2013 and called for more rigorous capital standards for banks.

• Wednesday, October 12th 2011 - 06:27 UTC

  S&P and Fitch downgrade main Spanish banks ratings on “dimmed” prospects

  

  Spanish banks including Banco Santander SA and Banco Bilbao Vizcaya Argentaria SA had their ratings cut by Standard & Poor’s, which cited “dimming” growth prospects and “heightened” market turbulence.

• Wednesday, October 12th 2011 - 06:00 UTC

  Colombia supports Palestinian state, but insists negotiations with Israel are crucial

  

  Palestinian leader Mahmud Abbas left Colombia empty-handed Tuesday after failing to secure support from President Juan Manuel Santos for his bid to gain state recognition at the United Nations.

• Wednesday, October 12th 2011 - 05:52 UTC

  Football star says Brazil “can’t become a slave of FIFA”

  

  Brazil football star Romario has said FIFA must not be allowed to dictate changes to Brazilian law ahead of the World Cup in 2014. Romario, who is now a congressman, said laws that guarantee half-price tickets to students and pensioners should not be swept away.

• Wednesday, October 12th 2011 - 05:46 UTC

  Putin says Euro zone has sufficient resources and does not need BRIC aid

  

  Russian Prime Minister Vladimir Putin said on Tuesday that the crisis-hit Euro zone had enough resources to resolve its own troubles without support from Russia and fellow BRIC countries.

• Tuesday, October 11th 2011 - 23:34 UTC

  Trichet warns EU sovereign debt has become “systemic”

  

  Europe's top financial watchdog warned Tuesday that the Euro zone's sovereign debt crisis has become systemic and threatens global economic stability unless decisive action is taken urgently.

• Tuesday, October 11th 2011 - 08:15 UTC

  Food high prices and volatility to continue; investment in agriculture critical, says UN

  

  Food price volatility featuring high prices is likely to continue and possibly increase, making poor farmers, consumers and countries more vulnerable to poverty and food insecurity, the United Nations' three Rome-based agencies said in the global hunger report published Monday.

• Tuesday, October 11th 2011 - 07:48 UTC

  China to increase oil and sales tax (5 to 10%) to reduce consumption

  

  China will expand a tax on oil and natural gas sales to the entire country as of November first to try and reduce consumption. The tax will be 5-10% of sales, the State Council said Monday.