Global economy

‘Democracy kidnapped!’ Madrid police fire rubber bullets as thousands surround Spanish Congress

‘Democracy kidnapped!’ Madrid police fire rubber bullets as thousands surround Spanish Congress

Madrid riot police have cleared Plaza de Neptune of protesters, with about 200 officers securing the surrounding blocks. At least 60 people have been injured and 26 arrested as police used batons and rubber bullets to disperse the crowd. Local emergency services have confirmed that at least 60 people, including eight policemen, were injured in […]

Moody’s threatens to downgrade US

Moody’s threatens to downgrade US

As the budget deficit tops $1 trillion for the fourth time, the US might lose its top triple-A debt rating unless it finds a way to decrease the debt, according to Moody’s Investors Service. If next year’s budget negotiations fail to produce policies that would reduce the deficit, Moody’s would likely lower the rating to […]

US drops yet again on global economic competitive list

US drops yet again on global economic competitive list

Politically-dividing disagreements and record-breaking debt are being blamed for the decline in global competitiveness of the United States after the World Economic Forum declared America the seventh most competitive economy this week. On Wednesday, the WEF released their annual listing of the world’s leading economies arranged in order of most- to least-competitive, and the numbers […]

Bernanke fears of high unemployment for years to come

Bernanke fears of high unemployment for years to come

During the Fed’s annual address from Jackson Hole, Wyoming, US Federal Reserve Chairman Ben Bernanke said current economic conditions are setting America up for “daunting” challenges and continued grim employment numbers. Friday morning, the overseer of America’s central bank said during the Fed’s annual symposium that “we must not lose sight of the daunting economic challenges […]

Moody’s says global growth weaker than they thought

Moody’s says global growth weaker than they thought

Moody’s Investors Service has revised down its growth forecasts for the advanced and emerging nations in the G-20, citing an unfavorable external environment and lower domestic demand. In its latest Global Macro-Risk Outlook 2012-2013 update, Moody’s cut its forecasts for growth in emerging economies to 5.2% in 2012, compared to an earlier prediction of 5.8% […]

News Corporation loses $1,6bln in second quarter

News Corporation loses $1,6bln in second quarter

News Corporation, owned by Rupert Murdoch, reported a net loss of $1.6 billion as the company faces ongoing legal charges over the phone-hacking scandal. Publishing profits of the media giant fell to $139 million dollars from $270 million dollars.Last year the company earned a net income of $683 million in the same period. News Corporation […]

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