The U.K. is ending cheap bank funding for new mortgages in a bid to control the growing risk of a property bubble.
House prices have increased by about 7% in a year, and by much more in London, raising concerns that borrowers may have trouble making repayments when interest rates start to rise from their record low levels.
Spain's desperation: 20,000 apply for 400 Ikea jobs
A flood of job seekers crashed IKEA`s Spanish servers twice this week after some 20,000 people applied for just 400 positions at the Swedish furniture makers` new store in Valencia, Spain.
Almost a third of all unemployed in the 17-country euro zone area reside in Spain, and while the government said November`s registered jobless figures on Tuesday showed an improvement, net job creation is not expected until next year.
Food prices; a bricks and mortar problem for Indian economy
GURGAON, India (Reuters) - Three months since journeying more than 700 milesfrom his village in central India to take a job in this bustling city near the capital, New Delhi, Charan is already looking forward to a 10 percent pay rise. He isn't an engineer or programmer. He hauls bricks and sand at a local construction site for less than $100 a month.
India's biggest cities face a worsening shortage of migrant manual laborers like 26-year-old Charan, who goes by only one name. While India has long suffered from a dearth of workers with vocational skills like plumbers and electricians, efforts to alleviate poverty in poor, rural areas have helped stifle what was once a flood of cheap, unskilled labor from India's poorest states.