(PTI): Despite reports showing a recovery in the British economy, unemployment in the country is to carry on rising at least until the summer of 2010. The latest forecast from the Chartered Institute of Personnel and Development (CIPD) released Monday shows UK unemployment will peak at 2.8 million in 2010. The total number
UK unemployment peaks at 2.8mn in 2010
Published in December 29th, 2009
Posted by The Business Time in Business
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Earning reports boost US stocks
Published in December 19th, 2009
Posted by The Business Time in Business
(PTI): American stock markets have swung higher after two big technology companies said their business is improving. Following the announcements by Oracle Corporation and Research in Motion, the Dow Jones industrial average gained over 20 points to reach 10,328.89. Business software company
US banks failures hit 140
Published in December 19th, 2009
Posted by The Business Time in Business
(PTI): Seven more US banks have been shut down by regulators, bringing to 140 the number of failed American banks this year. Two of the biggest closures were in California. The rest were in the states of Alabama, Florida, Georgia, Michigan and Illinois. Banks with $14.4 billion in total assets were seized in six
Russian economy back to normal in 3 years
Published in December 18th, 2009
Posted by The Business Time in Business
(PTI): Russia’s economy will not return to its 2008 pre-crisis level earlier than the end of 2012, the country’s Finance Minister Alexei Kudrin has said. “We are planning to restore GDP [gross domestic product] to pre-crisis levels in the fourth quarter of 2012,” Kudrin told reporters on Wednesday after reporting
Industrialized nations’ climate polices embattled
Published in December 18th, 2009
Posted by The Business Time in Business
(PTI): Russia’s economy will not return to its 2008 pre-crisis level earlier than the end of 2012, the country’s Finance Minister Alexei Kudrin has said. “We are planning to restore GDP [gross domestic product] to pre-crisis levels in the fourth quarter of 2012,” Kudrin told reporters on Wednesday after reporting
Airlines estimated to lose $5.6bn in 2010
Published in December 17th, 2009
Posted by The Business Time in Business
(PTI): The International Air Transport Association (IATA) has forecasted a 5.6 billion dollar loss for airlines in the next year. The estimate is bigger than the previously expected $3.8 billion, as the aviation industry is still facing the impact of the global economic crisis. IATA also warned that airlines
