Economic Crisis
Daily News and Updates

Thursday - January 31, 2013:

  1. US economy shrinks 0.1 pct., 1st time in 3 ½ years
  2. Deep spending cuts are likely, lawmakers say, with no deal on sequester in sight
  3. Spanish retail sales slump 10.7% as austerity hurts consumers
  4. Catalonia seeks Spain bailout
  5. Ukraine Wants to Defer $390-Mln Debt to Russia
  6. Zimbabwean government bank balance 'down to $217'
  7. Ford prepares for more losses in Europe
  8. Debt-ceiling truths

Wednesday - January 30, 2013:

  1. Spanish retail sales slump, as US consumer confidence takes a knock
  2. Japan approves $1.02 trillion budget for 2013-14, borrowing at new highs
  3. More than eight million families admit spiraling personal debts are 'a burden' with average UK household now £3,200 in the red
  4. Bad news for travellers as pound's value slumps to lowest level since 2011
  5. Germans want gold reserves returned

Tuesday - January 29, 2013:

  1. Cyprus May Trigger New Eurozone Crisis – Kudrin
  2. Private sector pensions shut down at record rate
  3. Report: Treasury approved excessive pay for executives at bailed-out AIG, GM and Ally
  4. Suspended debt ceiling ‘playing with fire’

Monday - January 28, 2013:

  1. New Bank of England head Mark Carney hints at big shift in policy
  2. Illinois’ credit rating downgraded; state drops to worst in the nation

Sunday - January 27, 2013:

  1. Detroit City Council approves furloughs for non-union employees
  2. Fitch Downgrades Cyprus to 'B'
  3. Eurozone banks need to pay back €137bn to ECB
  4. Pentagon’s 46,000 Temporary Workers May Lose Their Jobs

Saturday - January 26, 2013:

  1. Banking union leads to risk mutualisation, says Draghi
  2. UK GDP shrank by 0.3% in fourth quarter
  3. Housing market: First-time buyers will need a £60,000 deposit by end of the decade

Friday - January 25, 2013:

  1. Austerity plan is failing, IMF tells Osborne
  2. IMF advises UK to ease austerity measures
  3. IMF chief: 2013 is make-or-break year for eurozone
  4. Spanish unemployment jumps to record 26 pct
  5. AAPL Apple Shares Fall More Than 12 Percent
  6. Foxconn International shares drop 4 percent after profit warning
  7. General Dynamics blames $2 million loss on defense cuts
  8. SanDisk's modest revenue forecast prompts selloff

Thursday - January 24, 2013:

  1. Merkel and Hollande announce joint plan for eurozone
  2. Spanish economic trouble deepens
  3. Geithner to leave US Treasury on Friday

Wednesday - January 23, 2013:

  1. UK credit rating under threat as borrowing rises again
  2. EU states to get go-ahead for tax on trading
  3. Senate Democrats say they will oblige GOP calls to pass budget, warn it will include taxes

Tuesday - January 22, 2013:

  1. Depressed banking sector raises spectre of triple-dip recession
  2. Republican Arizona Gov. Jan Brewer To Raise Taxes To Pay For Obamacare Medicaid Expansion

Monday - January 21, 2013:

  1. Annual GAO Report Says Federal Government Spending Is 'Unsustainable'
  2. Back down on austerity, Osborne urged as Britain slips towards triple-dip
  3. Oversight chairman raises constitutional questions on GOP debt-limit plan
  4. Snow could put UK in a triple-dip recession

Sunday - January 20, 2013:

  1. House Republicans back off from fiscal clash with Obama
  2. Analysis: Budget constraints limit Obama's second-term agenda
  3. Fed official alleges Geithner may have alerted banks to rate cut
  4. Goldman Sachs CEO Lloyd Blankfein Gets 75 Percent Raise: Report

Saturday - January 19, 2013:

  1. China's economy posts slowest growth since 1999
  2. Cities short on pension, health care funds
  3. Last debt ceiling debate indicates more economic hurt likely as another fight looms
  4. UK retail sales fell in December
  5. CEOs want to raise the retirement age to 70

Friday - January 18, 2013:

  1. Greece to receive €3_2bn from IMF
  2. US taps pension fund to avoid passing debt limit
  3. Blockbuster joins UK retail casualty list and calls in the administrators
  4. EU car sales at 17-year low
  5. Gazprom 9M Net Profit Plunges 12%
  6. House plans vote to overturn Obama's pay hike
  7. Why Germany wants its 674 tons of gold back

Thursday - January 17, 2013:

  1. David Williams USPS ‘borrowed so much that they can't borrow anymore’
  2. Federal Welfare Spending to Skyrocket 80 Percent in Next Decade
  3. Germany plans to repatriate billions in gold from New York, Paris: report
  4. Police Pay New recruits to be paid less than trainee McDonald's manager after reforms see starting salary cut
  5. World Bank trims growth forecast

Wednesday - January 16, 2013:

  1. Analysis: In spending wars, Obama strikes at Republican leverage
  2. Geithner says clock will run out on debt work-arounds by early March
  3. CEBR Austerity 'could last for ten more years'
  4. Concern over Germany after economy shrinks
  5. German economy contracted 0.5 percent in fourth-quarter on euro crisis
  6. Germany to move gold reserves
  7. HMV calls in administrators – putting 4,500 jobs at risk
  8. Number of working poor families grows as wealth gap widens
  9. Pensions overhaul could hit public sector workers hardest
  10. Egyptians looking for new money source
  11. GOP to ban ‘trillion-dollar coin’

Tuesday - January 15, 2013:

  1. Behind the Curtain House GOP eyes default, shutdown
  2. Global shares dip from recent highs, euro gains
  3. Goldman Sachs bankers to reward themselves a staggering £8.3billion in bonuses
  4. Graduate job opportunities shrink amid economic uncertainty

Monday - January 14, 2013:

  1. Americans feel austerity's bite as payroll taxes rise
  2. U.S. states flirt with major tax changes

Sunday - January 13, 2013:

  1. Democrats urge Obama to be ready to bypass Congress on debt cap
  2. No clear path for Obama to act alone on U/S. debt cap experts
  3. UK: Economy heading for triple-dip recession, NIESR warns
  4. Moody's knocks Cyprus credit to junk status
  5. No hope for Jessops: Administrators to close ALL of failed camera chain's stores with the loss of 2,000 jobs
  6. Time Inc. Will Lay Off 700 After 5% Ad Decline

Saturday - January 12, 2013:

  1. Dunn: It's gonna get bad before it gets better
  2. Japanese government unveils £138bn stimulus package
  3. Greek Unemployment Soars To New Record, 56.6% Of 15-24 Year Olds Without Job
  4. American Express to cut 5,400 jobs, take charges in fourth quarter
  5. Bumper pay rise for university chiefs of up to £50,000 as students struggle with spiralling tuition fees
  6. MPs call for, in private at least, a 32% pay rise
  7. Apple expects China to overtake US as biggest market
  8. Music retailers expected to follow Jessops into administration
  9. UK industrial production growth weaker than forecast

Friday - January 11, 2013:

  1. Pension from a £100,000 pot 'halved since 1995'
  2. Source: Morgan Stanley Bank to Lay Off 1,600 People

Thursday - January 10, 2013:

  1. Platinum Coin: White House Doesn't Completely Rule It Out
  2. Pension income falls up to 11.5% in a year
  3. Jessops goes into administration, putting 2,000 jobs at risk
  4. M&S admits bigger than expected sales drop in trading statement
  5. More utility closings to come
  6. N_Y_ Gov_ Andrew Cuomo wants minimum wage to rise from $7.25 to $8.75

Wednesday - January 9, 2013:

  1. A black Christmas for the high street More shops set to go bust amid cost of living squeeze
  2. Eurozone crisis live Unemployment rate hits new record high
  3. Exclusive Disney looks for cost savings, ponders layoffs - sources
  4. Taiwan chipmaker UMC says Dec sales fall 3_8 percent on year
  5. Rescued by a Bailout, A.I.G. May Sue Its Savior
  6. US Foreclosure Settlement Angers Wall Street Critics

Tuesday - January 8, 2013:

  1. Analysis: Doom scenario far-fetched but euro gloom to deepen
  2. Banks win concessions and time on liquidity rules
  3. Analysis: Fiscal crisis seen hurting tech earnings
  4. IMF economists admit 'errors' on austerity policy
  5. Worrying trading figures expected from biggest chains

Monday - January 7, 2013:

  1. 'Fiscal cliff' Tax rates just the first skirmish; debt debate up next
  2. Quarter of mothers forced to turn their heating off to afford food for their children
  3. Americans face higher prices, flat wages in 2013
  4. Revealed: soldiers, nurses and teachers hit by benefit curbs

Sunday - January 6, 2013:

  1. Fed officials suggest possible end to asset purchases in 2013
  2. Trillion Dollar Coins: The Ultimate Debt Ceiling End-Around
  3. UK service sector contracts for first time in two years
  4. White House says Congress must raise debt limit

Saturday - January 5, 2013:

  1. Analysis: Geithner's planned departure puts Obama in tough spot

Friday - January 4, 2013:

  1. World stocks run out of fiscal-cliff joy
  2. Federal agencies bracing for cuts after ‘fiscal cliff’ deal
  3. Fiscal Cliff Deal Sneaked In Wall Street Gifts, NASCAR Perk

Thursday - January 3, 2013:

  1. Despite fiscal cliff deal, taxes to rise for most Americans
  2. Stocks to soar as world money catches fire, Calvinst Europe left behind
  3. Bad news for homeowners as house prices will not return to pre-recession peak until end of the decade
  4. Prices go up, seniors go under

Wednesday - January 2, 2013:

  1. Economists expect UK to lose AAA credit rating

Tuesday - January 1, 2013:

  1. Egyptian pound sinks to record low
  2. EU budget treaty to come into force
  3. Merkel predicts 2013 to be more economically difficult
  4. Angela Merkel warns crisis is 'far from over'
  5. Senators: Strong Democratic support for 'cliff' deal

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