International

• Wednesday, December 16th 2009 - 23:25 UTC

  UK record: one in five working age people economically inactive

  

  Youth unemployment in the United Kingdom has reached a record high as the jobless total nudged 2.5 million, the worst total since the mid-1990s. The number of 16 to 24-year-olds out of work was 952,000 in the three months to October, a quarterly rise of 6,000 and the highest figure since records began in 1992.

• Wednesday, December 16th 2009 - 23:09 UTC

  EU fishing fleets agree to cut catches of cod, haddock and sole

  

  The EU says European fishing fleets will have to cut their catches of cod, haddock and sole next year, but a ban on anchovy fishing has been lifted. The quota for cod fishing is being cut by 15-35%, depending on the area. But there is an exemption for cod fishing in West Scotland and the Celtic Sea.

• Wednesday, December 16th 2009 - 07:38 UTC

  Moody’s warns about deterioration of sovereign triple-A ratings

  

  Sovereign debt risk is rising globally, particularly in the United States and United Kingdom, which must outline plans to manage public debt or face ratings deterioration as soon as 2011, Moody's global head of sovereign ratings said this week.

• Wednesday, December 16th 2009 - 07:33 UTC

  Climate Change: We Are All In The Same Boat

  

  Global warming does not respect borders; a mindset shift is required if world leaders are to save us from ourselves
  By Kofi Annan

• Wednesday, December 16th 2009 - 05:48 UTC

  Spain tops “misery index” that combines unemployment rate and budget deficit

  

  Spain tops a new “misery index” that combines unemployment rates with budget deficits, according to forecasts from Moody’s Investors Service. Ireland appears in fourth place on the sovereign-risk outlook for 2010, behind Spain, Latvia and Lithuania.

• Wednesday, December 16th 2009 - 05:34 UTC

  UK cuts defence programs to fund new equipment for Afghanistan

  

  British Defence Secretary Bob Ainsworth announced Tuesday a package of cutbacks in core defence programmes to fund £900 million of new equipment for troops in Afghanistan over the next three years.

• Wednesday, December 16th 2009 - 05:29 UTC

  UK November inflation rose to 1.9%, pushed by fuel prices

  

  Higher petrol prices in the United Kingdom pushed inflation upward for the second month in a row in November, official figures have revealed. The Consumer Prices Index (CPI) rose to 1.9% last month from 1.5% in October, said the Office for National Statistics (ONS).

• Wednesday, December 16th 2009 - 05:26 UTC

  Poland delays adoption of the Euro until 2015

  

  Poland's adoption of the Euro in 2015 is very realistic and more likely than in 2014, but it isn't a target date, Deputy Finance Minister Ludwik Kotecki told reporters.

• Tuesday, December 15th 2009 - 10:56 UTC

  Japan extends grant to Uruguay for solar power development

  

  Japan is extending Uruguay a grant of 8.5 million US dollars to finance a solar power project, according to official Japanese sources. Japan’s Foreign Affairs minister Katsuya Okada and his Uruguayan counterpart Pedro Vaz signed the document Monday.

• Tuesday, December 15th 2009 - 10:21 UTC

  Employment and industrial production in Euro-zone confirm shrinking tendency

  

  Employment in the Euro-zone shrank during the third quarter and October industrial production also contracted 0.6% on a month-on-month basis, according to the latest release from Eurostat, the European Community Statistics Office.