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Economy Archives April 2012

Archives March  2012 →

 

U.K. in First Double-Dip Recession since 1970s

The first double-dip recession since the 1970s forced Prime Minister David Cameron to defend his spending cuts in Parliament.

Spain and Italy borrowing rates soar in latest auctions

Borrowing costs for both Spain and Italy rose today in their latest auction of government bonds.

Greek Economy Getting into a Deeper Hole

Greece’s economy will contract a deeper than expected 5 percent this year, the country’s central bank chief said on Tuesday, piling more pressure on to a citizenry already battered by crippling austerity and record joblessness.

More money for Banks as BoE keeps interest rates at 0.5%

Bank of England policymakers all voted in favour of holding interest rates at a record low earlier in April, while one member called for more stimulus cash, the BoE said on Wednesday.

Taxed to Death Americans Renounce their Citizenships

A year ago, in Action Comics, Superman declared plans to renounce his U.S. citizenship. “‘Truth, justice, and the American way’ — it’s not enough anymore,” the comic book superhero said, after both the Iranian and American governments criticized him for joining a peaceful anti-government protest in Tehran.

Latin American Countries want Cuba free of Sanctions

Unprecedented Latin American opposition to U.S. sanctions on Cuba left President Barack Obama isolated at a summit on Sunday and illustrated Washington’s declining influence in a region being aggressively courted by China.

Obama Quietly Diverting Money to Fund Obamacare

Whether the Supreme Court will uphold or throw out Obamacare is yet to be seen. But one thing is true: Obama is making sure his socialist legislation will have funding should the Justices strike down the individual mandate.

Amazon sold £7billion in UK and paid no taxes

Amazon.co.uk, Britain’s biggest online retailer, generated sales of more than £3.3bn in the country last year but paid no corporation tax on any of the profits from that income – and is under investigation by the UK tax authorities.

17 Million Unemployed in Euro zone

Unemployment in the euro zone reached its highest level in almost 15 years in February, with more than 17 million people out of work, and economists said they expected job office queues to grow even longer later this year.

Bank of England ‘to stick’ with record-low interest

The Bank of England is forecast to keep its main interest rate at a record-low 0.50 percent and maintain its level of cash stimulus when it meets on Thursday, as Britain stands close to recession.

Archives March 2012 →
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