Forex News and Rumors

Unemployment in Spain Rises by 6%

Another 199,000 people lost their jobs in Spain during the month of January – this is a 6 percent increase bringing the total number of unemployed to 3.3 million or 14.4 percent. More

EU Warns U.S. to Abandon “Buy American” Clause in Rescue Bill

Citing fears of protectionist language in the legislation for President Obama’s $800 billion economic recovery plan, the European Commission stated that is would take the case up with the World Trade Organization (WTO) and also discussed the possibility of retaliatory trade sanctions against the US. More

Motorola Loses $3.6B in 4th Quarter

Motorola Inc. – a leading maker of telecommunications equipment – announced that it lost $3.68 billion in the fourth quarter of 2008. As part of its recovery plan, Motorola has fired its Chief Financial Officer and will suspend dividend payments until further notice. More

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