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Grim economic data throws spotlight on crisis summit

posted by emmypiu 9 days ago in JPY, GBP, GDP made popular 9 days ago

Weak economic readings from China, Japan and Britain and a grim corporate outlook worldwide reinforced fears on Tuesday of a prolonged recession, prompting investors to look to a world leaders' summit for solutions.  read more

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Why the Swiss economy is still as safe as –er– a Swiss bank

posted by sassygirl 36 days ago in CHF made popular 36 days ago

The Swiss are natural-born savers, says Harry de Quetteville, and consider banks to be emblematic pillars of society.  read more

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EU Nations Commit 1.3 Trillion Euros to Bank Bailouts

posted by odell 37 days ago in EUR made popular 37 days ago

France, Germany, Spain, the Netherlands and Austria committed 1.3 trillion euros ($1.8 trillion) to guarantee bank loans and take stakes in lenders, racing to prevent the collapse of the financial system.  read more

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Economy could thwart efforts

posted by sassygirl 35 days ago in GBP, Employment made popular 35 days ago

THE unemployment statistics for the UK were unveiled to a chorus of groans yesterday, as it emerged the jobless figures were up once more for the eighth month.  read more

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UK Jobless total 'will hit 3m': But don't worry says PM

posted by emmypiu 35 days ago in Employment made popular 35 days ago

The growing army of the jobless is set to number three million by the time of the next election, economists warned Gordon Brown yesterday.
They predicted levels of unemployment not seen in two decades on the back of the biggest three-month leap  read more

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U.K. Jobless Claims Reach Highest in Almost Two Years

posted by sassygirl 36 days ago in GBP made popular 36 days ago

U.K. unemployment rose to the highest level in almost two years in September as the prospect of a recession and the global financial crisis prompted a spate of job cuts from banks to construction companies.  read more

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"We must spend up to 4 trillion dollars"

posted by sassygirl 36 days ago in CHF made popular 36 days ago

To save the financial market, the governments must disburse at least 3 or 4 trillion dollars and nationalise banks threatened with bankruptcy. Is the prescription of economist Swiss Mauro Baranzini, for which this crisis demonstrates the need for  read more

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Dollar Strong as Talk of Coordinated Rate Cut Looms

posted by anniemei 44 days ago in USD, AUD, Daily made popular 44 days ago

Riding to the rescue of this near-global near-free fall is, hopefully, a coordinated response by the world’s major central banks. No doubt led by the Fed, there is talk of at least 50 basis points being shaved off of key rates. It is doubtful we’  read more