Ireland Prepares Emergency Budget
With record unemployment now exceeding 11% and a widening deficit, the Irish government is set to produce its second budget in the past six months. The rapid deterioration of the once booming economy has led to a series of tax hikes and a dramatic cut in government spending. More
China Could Start Recovery This Year: World Bank
The World Bank said today that China – the world’s third largest economy – could begin to recover from the current recession later this year. More
Equity Market Losses Boost Yen
A poor start to the week has pushed down stock markets and sent investors fleeing to the relative safety of the yen. The yen gained nearly a full percentage on the greenback to 100.14 yen to the dollar. More
Oil Prices Fall Below $51
After several consecutive days of gains, oil prices tumbled by nearly seventy-five cents with May delivery contracts falling to $50.32 a barrel. More
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