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Tag Archives: global economy

EU watching Greece closely

BRUSSELS, Belgium — Could Greece drag down Europe? EU finance ministers are pressing their indebted and riot-prone Balkan member to embrace a massive austerity plan and plug its debilitating deficit. But with markets skeptical and the appetite for more bailouts at a low, there are deepening concerns that a Greek meltdown could deal a severe blow to the very European ...

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Japan Airlines in the red

TOKYO, Japan — Japan Airlines filed for one of the country’s largest bankruptcies ever Tuesday, entering a restructuring that will shrink Asia’s top carrier and its presence around the world. Staggering under a $25.6 billion debt mountain, the carrier applied for protection from creditors under the Corporate Rehabilitation Law — Japan’s version of Chapter 11 — with the Tokyo District ...

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Oil prices stay near $78 per barrel

Oil prices hovered around $78 a barrel this morning as traders weighed doubts about global oil demand against a weaker U.S. dollar, which made crude cheaper for investors holding other currencies. By midday in Europe, benchmark crude for February delivery was up 30 cents to $78.30 a barrel in electronic trading on the New York Mercantile Exchange. On Friday, the ...

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IMF concerned about 'asset bubbles'

TOKYO, Japan — The head of the IMF said China and other developing Asian economies are leading a global recovery that is faster and stronger than expected, but warned that money rushing into emerging markets could lead to asset bubbles. Dominique Strauss-Kahn, the managing director of the International Monetary Fund, strongly suggested today that the IMF would raise its 2010 ...

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U.S. productivity increase outpaces world

Manufacturing labor productivity decreased in 2008 in 12 of the 17 economies compared by the Bureau of Labor Statistics. The Republic of Korea and the United States had the largest productivity increases (1.2 percent each) among the five economies where productivity increased. Singapore had the steepest productivity decline (-6.6 percent). For all economies, labor productivity in manufacturing increased less or ...

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