(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 More…

(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 More…

(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 More…

(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 More…

(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 More…

(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 More…