PORTUGAL

Australia has declared early 25 million acres (10 million hectares) of the southern Tanami Desert in the Northern Territory -- home to some of the country's most endangered species -- a conservation zone.

Unemployment in advanced economies will remain high until at least the end of 2013, with youth and the low-skilled hurt most by the weakest economic recovery in the past four decades, the Organization for Economic Co-operation and Development (OECD) said Tuesday.

This week?s focus will be the June Federal Open Market Committee minutes, U.S. trade deficit and China's Q2 GDP.

Cutting federal spending in 2012 could tip the U.S. economy back into a recession, just as it almost did in 1937. On the contrary, if the federal government spent more on infrastructure and public works projects now and in the immediate quarters ahead, it would create millions of jobs.