June 2013 International Economic Fundamentals
- Thread starter Ally
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Youth unemployment is a global crisis
It wasn`t the effigies of Angela Merkel going up in flames across Europe that finally got to the Germans. No, the cruellest cut was the country`s dismal 21st-place finish in last month`s Eurovision song contest. Germany`s entry, Cascada, got zero points from 34 of the 39 countries that voted.
`There`s obviously a political situation to keep in mind,` a commentator for Germany`s public broadcaster said after the votes were tabulated. `We all have to be aware that it wasn`t just Cascada up there on stage, but all of Germany.`
Read the full article here.
It wasn`t the effigies of Angela Merkel going up in flames across Europe that finally got to the Germans. No, the cruellest cut was the country`s dismal 21st-place finish in last month`s Eurovision song contest. Germany`s entry, Cascada, got zero points from 34 of the 39 countries that voted.
`There`s obviously a political situation to keep in mind,` a commentator for Germany`s public broadcaster said after the votes were tabulated. `We all have to be aware that it wasn`t just Cascada up there on stage, but all of Germany.`
Read the full article here.
- Joined
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- Joined
- Mar 24, 2009
- Messages
- 16,743
China factory activity shrinks, adds to growth fears
BEIJING (Reuters) - China's factory activity shrank for the first time in seven months in May and growth in the services sector cooled, evidence that the world's second-largest economy is losing further momentum in the second quarter.
The HSBC/Markit Purchasing Managers' Index (PMI) for May dropped to 49.2, the lowest level since October 2012 and down from 50.4 in April, as domestic and overseas demand fell.
Read the full article here.
BEIJING (Reuters) - China's factory activity shrank for the first time in seven months in May and growth in the services sector cooled, evidence that the world's second-largest economy is losing further momentum in the second quarter.
The HSBC/Markit Purchasing Managers' Index (PMI) for May dropped to 49.2, the lowest level since October 2012 and down from 50.4 in April, as domestic and overseas demand fell.
Read the full article here.
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Views of China and India slide in global poll, while UK's ratings climb
22 May 2013 - Positive views of China and India have fallen sharply around the world over the last year, a new 25-country poll for BBC World Service indicates.
The poll also finds that views of the UK have improved in the wake of its hosting of the 2012 Olympics, making the UK the third most positively rated country. Of the other fifteen countries rated, nine saw their ratings positive worsen this year while the UK was the most improved
Read the full article here.
22 May 2013 - Positive views of China and India have fallen sharply around the world over the last year, a new 25-country poll for BBC World Service indicates.
The poll also finds that views of the UK have improved in the wake of its hosting of the 2012 Olympics, making the UK the third most positively rated country. Of the other fifteen countries rated, nine saw their ratings positive worsen this year while the UK was the most improved
Read the full article here.
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Spain's jobless rate falls in May, but big picture still gloomy
MADRID (Reuters) - Spain's number of registered jobless fell in May but seasonal hires were largely responsible, checking government optimism that the drop heralded a turnaround for the country's crippled economy.
With chronically high unemployment a source of rising social unrest and the greatest barrier to a return to growth, Prime Minister Mariano Rajoy had showcased Tuesday's labour ministry data at the weekend, saying it would be "clearly encouraging."
Read the full article here.
MADRID (Reuters) - Spain's number of registered jobless fell in May but seasonal hires were largely responsible, checking government optimism that the drop heralded a turnaround for the country's crippled economy.
With chronically high unemployment a source of rising social unrest and the greatest barrier to a return to growth, Prime Minister Mariano Rajoy had showcased Tuesday's labour ministry data at the weekend, saying it would be "clearly encouraging."
Read the full article here.
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Flaherty says European economic problems keep him up at night
HALIFAX - With word circulating that a free trade deal may be close with the European Union, Canada's finance minister told an audience in Halifax on Thursday that he remained worried about the economy in the world's largest consumer market.
During a question and answer session following a dinner hosted by the Atlantic Institute for Market Studies (AIMS), Jim Flaherty was asked by an audience member what it was that "kept him up at night."
Read the full article here.
HALIFAX - With word circulating that a free trade deal may be close with the European Union, Canada's finance minister told an audience in Halifax on Thursday that he remained worried about the economy in the world's largest consumer market.
During a question and answer session following a dinner hosted by the Atlantic Institute for Market Studies (AIMS), Jim Flaherty was asked by an audience member what it was that "kept him up at night."
Read the full article here.
World Bank cuts growth outlook
WASHINGTON (Reuters) - The World Bank cut its outlook for global growth, saying the economy should expand more slowly this year than last as it cited a deeper-than-expected recession in Europe and a recent slowdown in some emerging markets.
In its twice-yearly Global Economic Prospects report, the bank warned that large developing economies, which have driven global growth in recent years, will not experience the same boom as they did before the global financial crisis and will have to focus on structural reforms to keep expanding.
Read the full article here.
WASHINGTON (Reuters) - The World Bank cut its outlook for global growth, saying the economy should expand more slowly this year than last as it cited a deeper-than-expected recession in Europe and a recent slowdown in some emerging markets.
In its twice-yearly Global Economic Prospects report, the bank warned that large developing economies, which have driven global growth in recent years, will not experience the same boom as they did before the global financial crisis and will have to focus on structural reforms to keep expanding.
Read the full article here.
IMF warns Spain on unemployment
The International Monetary Fund is warning that Spain risks high joblessness and sluggish growth for years unless its takes `urgent action`. In its annual assessment of the Spanish economy, the IMF does praise the Madrid government for reforms that have stabilised the economy, but warns it, and the European authorities, need to boost job creation in the country. It wants further labour law reforms to make it easier for companies to modify work rather than dismiss employees, reduced severance pay and changes to collective bargaining. The IMF`s mission chief James Daniel said: `The jobs crisis calls for a mechanism to bring forward the gains of structural reforms.
Read the full article here.
The International Monetary Fund is warning that Spain risks high joblessness and sluggish growth for years unless its takes `urgent action`. In its annual assessment of the Spanish economy, the IMF does praise the Madrid government for reforms that have stabilised the economy, but warns it, and the European authorities, need to boost job creation in the country. It wants further labour law reforms to make it easier for companies to modify work rather than dismiss employees, reduced severance pay and changes to collective bargaining. The IMF`s mission chief James Daniel said: `The jobs crisis calls for a mechanism to bring forward the gains of structural reforms.
Read the full article here.