U.S. Unemployment Hits 7.2 %
The U.S. Labor Department announced that December’s unemployment rate rose to 7.2 percent matching the highest level since 1993. For December alone, 524,000 jobs were lost bringing the total number of jobs lost for 2008 to 2.6 million. More
UK Manufacturing Output Falls 7.4%
Just one day after the Bank of England slashed interest rates to boost the economy, the Office of National Statistics revealed that UK manufacturing output for December fell 2.9 percent. When compared to one year ago, manufacturing output has declined 7.4%. More
Deal to See Gas Flowing Through Ukraine Again Seems Likely
Reports from officials in Eastern Europe suggest that an agreement has been reached between Russian energy giant Gazprom and the Ukraine government that would end a disagreement over pricing of gas shipped through the Ukraine pipeline. The settlement is said to include the creation of a team of monitors to ensure that Ukraine does not divert gas pumped through the pipeline intended for European countries. More
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