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ECONOMY

Debt-ridden Spain to spend €1mn on riot gear

The Spanish government intends to spend about 1 million euro on police riot gear, despite the country’s debt rising by 58 billion euro over the last year. Authorities worry about widespread protests they believe will grip the nation in the autumn.

US fast-food industry thriving on poverty-stricken workers

The plight of poverty-stricken fast-food workers in the US epitomizes the general breakdown of American society. Millions of workers in that industry are so exploited it is estimated that more than half of them can only make ends meet by relying on some form of government handout.

No Economy For Americans - Paul Craig Roberts

The Dow Jones stock average closed Friday at 17,137, despite the fact that the payroll jobs report was a measly 125,000 new jobs for August, an insufficient amount to keep up with the growth in the working age population.

Additional EU sanctions against Russia might hurt Slovenian economy

Additional European Union’s sanctions against Russia might have an extremely detrimental effect on the national economy of Slovenia, Ales Cantarutti, the chairman of the Slovenian Trade and Industry Chamber, said on Thursday.

Ireland is losing another generation and will only be worse for it

What’s going on with Ireland’s young people? They’re leaving at a higher rate than ever before.

Ukraine's Economy Is Unraveling

Ukraine is going through a perfect economic storm. Ravaged by civil war, left with no parliament and led by a self-styled “kamikaze government”, the country is on the verge of a full-fledged economic disaster.

Woman working 4 jobs to make ends meet dies while napping in car between shifts

A New Jersey woman who worked four jobs, who sometimes “wouldn’t sleep for five days,” according to a co-worker, died Monday while napping between shifts in her car on the side of the road.

Growing National Unrest Has Many Worried, Even Capitalists

According to S&P’s assessment, “extreme” levels of income inequality can harm growth over long periods of time, and in their view, the United States is approaching a level of inequality that is very near the threshold of being dangerous.

Hollande puts economy in hands of 36 year-old ex-banker

The French President revealed on Tuesday the names of the ministers in his new government tasked with pushing through crucial reforms. The key role of Economy Minister went to former banker and key Hollande ally, Emmanuel Macron, aged just 36.

American gangsters! Matt Taibbi & Max on suckers buying bogus & big bank mass perjury

Matt Taibbi talks about the injustice that follows the wealth divide and how Ferguson, Missouri plays into that.

American gangsters! Matt Taibbi & Max on suckers buying bogus & big bank mass perjury

French can't follow Merkel - Austerity not solution to crisis

Disagreement between Eurozone countries has come on the back of very poor GDP growth in recent months. German chancellor Angela Merkel blames euro-neighbours, France among them, saying they're unable to deal with their high deficits, but analyst Michael Mross says Germany's austerity policy will not solve the EU's problems.

'French can't follow Merkel - Austerity not solution to crisis'

France blasts Germany for "austerity policy"

French Economy Minister Arnaud Montebourg on Saturday criticised German austerity measures and warned France would no longer "be pushed around" by the EU's economic powerhouse.

Spanish public debt tops €1 trillion-mark

Spain's public debt has topped €1 trillion ($1.3 trillion) for the first time, the central bank announced on Thursday, despite years of government-imposed austerity.

The whole eurozone is sick, not just France

Critics of France’s Socialist government were quick to point the finger at president François Hollande and his ministers on Thursday after the latest figures on the economy made for some sorry reading.

Putin says U.S. is "parasite" on global economy

Russian Prime Minister Vladimir Putin accused the United States Monday of living beyond its means "like a parasite" on the global economy and said dollar dominance was a threat to the financial markets.

The Subprime Economy is Back—But It Never Really Left. The Heavy Burden of Household Debt to American Families

Remember the sub-prime economy? It’s back, but it’s different this time. Well, sorta different. And you may be affected by it in all kinds of ways.

Germany to suffer most from anti-Russia sanctions

Germany, Russia’s important trading partner, will be hit the hardest by the European Union's sanctions against Russia, Josef Yanning, Director of Studies at the European Policy Center in Brussels, said on Friday.

Events in southeast leave Ukraine’s budget $213 mln short for June

Ukraine’s Ministry of Revenue and Duties collected 75.8 billion hryvnia (6.4 billion U.S. dollars) in the first six months of 2014 and this is one percent less than planned, Chairman of the State Fiscal Service Igor Belous told reporters on Thursday.

Egypt raises fuel and electricity costs

Egypt has introduced electricity and fuel price increases in a move to cut state subsidies and reduce the budget deficit.

Family with 3-week-old baby evicted in Madrid

Spanish police have arrested six people who were trying to stop the eviction of a family with three children, the youngest only 20 days old, from their home in Madrid on Friday.

Drugs and sex trade revenues to be included in Spain's GDP figures

Spain is soon to start including estimated revenues from drug trafficking and the sex trade when calculating its gross domestic product (GDP), a move expected to boost economic results, officials said on Thursday.

European Central Bank Goes Sub Zero

On Thursday, European Central Bank chief Mario Draghi dropped rates on overnight deposits to minus 0.1% thereby charging commercial banks to keep their money at the ECB.

US call to break ties with Russia harms EU

Widely rejected by European business, US and EU officials are pushing for more sanctions on Russia. Some analysts believe any further restrictions would drag Europe's economy down, while boosting America's.

US call to break ties with Russia harms EU

Siemens may slash 12,000 jobs says boss

German industrial giant Siemens has said it is weighing cuts of nearly 12,000 jobs around the world as part of a major restructuring.

Half of young Spaniards have no money coming in

Almost half of all Spaniards aged 16 to 29 receive neither a salary nor government benefits while only one in five can afford to fly the family coop, the startling results from a new study reveal.

Egypt: Price rises across the board

Egyptians trying to cover their growing expenses are to shoulder yet more burdens as a result of the government’s plans to tighten the fiscal deficit by lowering expenses and increasing revenues.

Unemployment in Italy remains at record level

The unemployment rate in Italy reached 12.7 percent in March, an initial estimate from national statistics agency Istat showed on Wednesday.

Americans struggle as food prices rise

Prices of basic foods such as eggs, milk and fruit are on the rise in the United States. That combined with stagnant wages for most Americans, means feeding a family is getting more difficult.

Americans struggle as food prices rise

Italian factory shutdown threatens 4,000 jobs

A blast furnace at an Italian steel plant was shut down on Thursday with 4,000 jobs at risk despite a call by Pope Francis for officials "to make every effort in terms of creativity and generosity to rekindle hope".

Only Greece tops Italy for debt: EU

The Italian government's debt-to-GDP ratio hit 132.6 percent in 2013, the second-highest in the EU after Greece, figures released on Wednesday showed.

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