UNEMPLOYMENT

Gold Price Struggles with Head & Shoulders Pattern Ahead of Fed Vote

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The price of Gold Bullion rallied from its lowest level since 28th Oct. early in London on Wednesday, but remained nearly $100 per ounce off Dec.'s all-time highs in what dealers called very quiet trade ahead of today's US Federal Reserve announcement on monetary policy.

Fed stays cautious on recovery, focused on jobless

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The U.S. Federal Reserve gave a lukewarm economic assessment on Wednesday despite recent signs the recovery was strengthening, saying high unemployment still justified its $600 billion bond-buying program.
Chairman of the Federal Reserve Ben Bernanke delivers opening remarks at a Federal Reserve System symposium in Arlington, Virginia

FOMC stays the course

The Federal Open Market Committee (FOMC) kept its key interest rate unchanged at the record low range of 0 percent to 0.25 percent, as widely expected. The FOMC also remained committed to its $600-billion Treasury purchase program.
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Trust in business tumbled in 2010: survey

Americans' trust in institutions of all kinds dropped last year as persistently high unemployment sapped people's confidence in business and government, a newly released study found.

New home sales rose to 329,000 in December

New home sales in the U.S. in December climbed to 329,000 on annual basis, official data showed on Wednesday, suggesting that the housing market remained moderately robust despite an unsustainable unemployment rate and high foreclosures.

Egypt's government forbids more protests

Egypt said on Wednesday it would ban demonstrations and detain protesters, seeking to draw a line under unprecedented protests against President Hosni Mubarak's rule.

In Global Challenge, Obama Urges 'Big Things'

President Barack Obama reminded Congress in his annual address Tuesday that in the U.S. We do big things, as he urged a united approach to resolving the nation's jobs and economic problems by spending in ways that will boost U.S. competitiveness globally while simultaneously reducing the nation's high deficits.

Obama under scrutiny for clues on deficit in speech

President Barack Obama aims to rise above party politics in his State of the Union speech on Tuesday, but he must prove he is serious about tackling the budget deficit that could unleash a bitter partisan fight.

Weak labour market holding back recovery - ILO

A faltering and uneven increase in jobs is holding back the overall economic recovery and unemployment is likely to continue at near record levels this year, the International Labour Organisation said on Tuesday.
International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn (R) and Governor of People's Bank of China Zhou Xiaochuan seen in this file photo.

IMF projects India to grow at 8.4 pct in 2011

The International Monetary Fund (IMF) said it expects India to grow at 8.4 percent in 2011 and fall to 8 percent, unchanged from its prior estimate as the two-speed global recovery will continue.

Global recovery not translating into jobs: ILO

Global economic recovery is not resulting in job creation, as the number of the unemployed people worldwide stood at a record 205 million last year, the International Labour Organization (ILO) warned on Monday.

Analysis: Be careful what you wish for: the China Price starts

Call it the price of success. China is starting to pass on the rising cost of labor and other manufacturing inputs as it restructures its economy, creating a potential new inflation headache for Western countries already grappling with surging commodity prices.

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