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Tuesday 04th of May 2010

News Tag: major

April 27, 2010

Spain’s unemployment rate exceeds 20%

by Kay Murchie
Spain’s unemployment rate exceeds 20%
Official figures have today revealed that Spain’s unemployment rate has reached 20.05% - the highest level in 13 years. The economy has been hit by a severe slump within its key construction industry, which has led to a significant amount of job losses. Spain’s jobless rate is double the 10% for the euro zone as a whole with the total number of jobless in ...



November 6, 2009

OECD: Recovery clearly visible in major economies

by Kay Murchie
OECD: Recovery clearly visible in major economies
The Organisation for Economic Co-operation and Development (OECD) has provided a positive outlook for major economies saying "a recovery is clearly visible in the US, Japan and all other OECD economies and major non-OECD economies." The report will give a boost to the UK which did not emerge from recession in the third quarter as expected. According to the OECD, its ...



September 16, 2009

Global recession could result in 25m job losses

by Kay Murchie
”Global
The Organisation for Economic Co-operation and Development (OECD) warned today that in spite of signs of recovery in major economies, the global recession could mean 25 million people will lose their jobs. The news comes after the Office for National Statistics (ONS) today revealed that unemployment in the UK grew by 210,000 to 2.47 million in the three months to ...



June 22, 2009

ECB president warns ‘no more stimulus’

by Kay Murchie
ECB president warns 'no more stimulus'
European Central Bank’s (ECB) president, Jean-Claude Trichet, is urging major economies not to implement any more stimulus packages by declaring that existing packages are "sufficient". Stimulus packages have been implemented in many of the major economies throughout the world and are aimed at boosting economies. Mr Trichet said that the stimulus packages already in place were "completely extraordinary" and "in our ...



June 18, 2009

Obama outlines regulatory overhaul for US financial system

by Kay Murchie
Obama outlines regulatory overhaul for US financial system
US President Barack Obama is proposing a major reform of banking regulation in order to prevent future meltdowns of the US banking system. Mr Obama described the reforms as biggest overhaul of the system since the 1930s, which will see major banks put more money aside against future losses to prevent excessive risk taking. The objective is to tackle the ...



June 8, 2009

OECD reveals optimism for global recession

by Kay Murchie
”OECD
According to the Organisation for Economic Co-operation and Development (OECD), the economic outlook for the world's major economies is looking brighter after indications revealed the downturn may have finally bottomed out. The composite leading indicators (CLI) index for the 30 countries in the OECD gained 0.5 points in April to 93.2, up from 92.7 in March. However, the OECD noted that April’s ...



November 3, 2008

30,000 jobs at risk in Lloyds TSB / HBOS merger

by Kay Murchie
”30,000
It was confirmed this morning that the Lloyds TSB and HBOS merger is proceeding and the new name for the company was unveiled as Lloyds Banking Group. According to Lloyds, its acquisition of HBOS would save it at least £1.5 billion a year, far more than originally anticipated. There have been concerns that the cost savings will result in ...