The biggest trade deal in world history is on the table as the U.S. and European Union formally begin to discuss a free trade agreement.
The two entities mark the world’s two biggest economies and current trade between the groups is around $613 billion a year. Continue reading
The plans of Japan’s government for a quick financial recovery took another blow yesterday when they announced the third straight quarter of economic contraction.
The economy shrank .1% in the fourth quarter of the year. Analysts had been predicting a small rise in the economy after dipping into recession after the third quarter. The drop has been attributed to a drop in key market exports. Continue reading
In data released Thursday afternoon, the Federal Reserve revealed that its holdings of U.S. government debt had increased to an all-time record of $1,696,691,000,000 as of the close of business on Wednesday. Continue reading
China surpassed the U.S. to become the world’s biggest trading nation last year as measured by the sum of exports and imports of goods, official figures from both countries show. Continue reading
Spain’s unemployment rate has set a new record with 55 percent of the nation’s youth unable to find work.
The unemployment rate for the entire country rose to 26 percent with almost six million out of work. Continue reading
Greek transportation workers are facing a threat of arrest in light of an eight-day strike that has crippled commerce in the country.
Over half a million Greek workers have been unable to get to work because of the stoppage of the city’s underground system. Union workers have been stating that they will defy the threat and even “step up” strike action. Continue reading
Spanish Prime Minister Mariano Rajoy has stated that he will not accept any outside conditions on bailout funds that could potentially save his nation’s economy.
“I am absolutely convinced that everyone will be reasonable but I insist that we haven’t taken a decision,” Rajoy said during a national television address. “I will look at the conditions. I would not like, and I could not accept, being told which were the concrete policies where we had to cut.” Continue reading
The recession in the UK officially deepened after reports of the country’s gross national product falling .7% between April and June. The fall was more than double the .3% drop in the first three months of 2012.
The fall marks the fourth negative quarter in five quarters for the UK with the latest the worst of the four declines. It’s the largest fall in GDP growth since a 1.6% fall in the first quarter of 2009. Continue reading
A drop in consumer spending resulted in the US economy growth slowing to an annual rate of 1.5% according to the Commerce Department. That’s down almost a full percentage point from the first quarter of the year.
The Commerce Department also put some of the blame on an increase in imports during the same time period.
“As campaigning [for President] gets serious, the economy is losing momentum not gaining,” Mark Gregory of the BBC reported. “That’s bad news for President Obama’s chances of hanging onto his job in November.” Continue reading
Pastor Jim & Lori Bakker welcome John Shorey for Day 2 as they discuss the Window of the Lord’s Return on The Jim Bakker Show. Continue reading