Global Financial Crisis – International

A bold $1 trillion rescue by the European Union halted the slide of the euro on Monday and sent markets soaring worldwide in a gambit that may ultimately be seen as the moment Europe truly became a union.

WASHINGTON – PRESIDENT Barack Obama on Friday said Americans were flooding back into the job market as the economy slowly improved after a barn-busting report showed 290,000 jobs were created in April.

THE poverty incidence in the Philippines has risen over the past two years following the global economic crisis and a series of devastating storms last year, according to a joint report by the World Bank and the International Monetary Fund released Friday.

WASHINGTON – Delaying financial reform could put the global economic recovery at risk, a group of 24 developing nations warned on Thursday as they called for “vigorous” implementation of reforms.

LONDON—The International Monetary Fund has proposed two new global taxes on banks and other financial institutions to cover the cost of future bailouts, the BBC reported.

MANILA, Philippines—Policies taken by the so-called Group of 20 major economies (G20) in response to the economic crisis have saved or created some 21 million jobs since last year, according to the United Nations International Labor Organization (ILO).

The IMF wants regulatory reform of financial institutions The global economy will grow a faster than expected 4.2% this year, says the International Monetary Fund (IMF).

CHICAGO – Asian economies are “on the move” after weathering the global economic downturn, but require more liberalization and reforms, Singapore’s Prime Minister Lee Hsien Loong said Thursday.

SEATTLE—Worldwide personal computer shipments increased more than 20 percent in the first three months of 2010 from the same period a year ago, a sign the PC business is on firmer ground after one of its shakiest stretches ever.

Brussels, 15 April 2010 (ITUC OnLine): As forecasts warn of a continuing rise in unemployment on top of the additional 34 million people worldwide who have become unemployed due to the economic crisis, trade union leaders from the G20 countries will urge for more action on jobs when they meet with G20 Labour and Employment…

Factories kick-started the US economy from its worst recession in seven decades. Now they’re taking the lead in reviving the labor market.

WASHINGTON -(Dow Jones)- U.S. Vice President Joe Biden said there were “some signs of hope” in May’s employment report, but cautioned that the U.S. economy is far from a full recovery.

The US manufacturing sector expanded in March at its fastest rate for six years, a report has said.

DAVAO CITY – A government executive here warns of an increasing number of overseas Filipino workers (OFWs) defaulting on their loans from an economic crisis credit facility.

WASHINGTON (AP) — Record-low interest rates are still needed to energize the economic recovery, a Federal Reserve official said Tuesday.

(Q&A) The path for labour markets to return to pre-crisis levels remains long and signs of recovery in the economy are yet to be translated into jobs, says a new study by the ILO. The paper also shows how job losses are unequally distributed across regions and economic sectors, and between developed and developing countries.…

BEIJING (AP) – The International Monetary Fund (IMF) warned the world’s wealthiest nations Sunday to watch their surging levels of government debt, saying it could drag down the growth needed to ensure continued economic recovery.

WASHINGTON (AP) — President Barack Obama on Thursday signed into law a package of tax breaks and spending designed to give the US a jobs boost by encouraging the private sector to start hiring again.

BRUSSELS: The European Union Wednesday (Thursday in Manila) accused its major powers of running away from bulging government deficits, as Greece said it could still seek IMF help if European backing did not ease its debt crisis.

SIGNS of recovery at the world’s second-biggest economy led Asian stock markets higher on Friday.

WASHINGTON (AP): Job creation in the U.S. is stuck on an uphill treadmill. So many jobs have been lost that the U.S. must run hard just to keep from losing more ground. Despite the election-year emphasis on job creation by both parties, the short-term outlook is bleak.

MANILA, Philippines – The global economic crisis could push more than 20 million people in the Asia-Pacific region into extreme poverty, rolling back development gains, according to a United Nations-backed report.

MANILA (AFP) – Seventeen million Asians have fallen into extreme poverty due to the global financial crisis, the Asian Development Bank and the United Nations said on Wednesday.

Worldwide PC shipments surpassed 90 million units in the fourth quarter of 2009, a 22.1 percent increase from Q4-08, according to preliminary results by Gartner, Inc. It was the strongest quarter over quarter growth rate the worldwide PC market experienced in the last seven years. It should be noted that these numbers are compared to…

There is this unfolding drama in Europe that will be instructive for us. Four member-countries of the European Union are in some degree of fiscal trouble. The four countries are: Portugal, Ireland, Greece and Spain. In the memos doing the rounds in financial circles, the four countries are collectively referred to by the acronym PIGS.

The swelling public deficits in Portugal, Spain and Greece have plunged the eurozone into the biggest crisis in its 11-year life, presaging years of belt-tightening, analysts warn.

WASHINGTON (AP) – The outlook for jobs became a bit less bleak with January’s unexpected decline in the US unemployment rate, which fell to 9.7 percent from 10 percent.

BRUSSELS (AP) – Fears of another crisis spiral for the world economy deepened Friday after the Portuguese parliament defeated a government austerity plan, triggering renewed concern that the financial crisis in that country and in Greece could spread through the eurozone and spill across its borders.

HERZILIYA, Israel (Reuters) – International Monetary Fund Managing Director Dominique Strauss-Kahn on Sunday urged the United States, Britain and other countries to cooperate on new policies and regulations in the wake of the financial crisis.

The global economy has staged a faster rebound than expected, the International Monetary Fund said yesterday, but prospects are uneven and emerging markets face the destabilising prospect of a flood of capital inflows.