UNEMPLOYMENT

This Time, Spain Won't Be Back In 10 Minutes

The euro zone has entered a technical recession in the first quarter of 2012, according to Eurocoin
Europe's fourth-largest economy is putting millions of people out of work. This time, it won't be back in 10 minutes like the post-it notes of Spanish employees when they leave their desks for a half-hour coffee break every so often.
Spain is the latest victim of the euro zone crisis. Fitch Ratings downgraded 18 Spanish banks on Tuesday.

Euro Zone Unemployment Hit Record High In May, PMI At 3-Year Low

Unemployment in the euro zone rose to a new record high in May, while manufacturing activities fell for the 11th consecutive month in June. The numbers increase the likelihood the European Central Bank will cut its key interest rate when its governing council meets Thursday.
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Traders on the New York Stock Exchange floor

US Stock Futures Decline Ahead Of Crucial EU Summit

U.S. stock index futures declined Thursday morning, pointing to a lower opening on Wall Street ahead of a decisive European Union summit in Brussels, where EU leaders will meet to tackle the euro zone debt crisis head on. The summit will take place June 28-29.
Newly built cars sit in a shipping lot near General Motors Car assembly plant in Oshawa

US Car Sales June 2012 Preview: Plateauing Sales A New Equilibrium

U.S. car sales are expected to have remained strong in June, maintaining a total seasonally adjusted annual rate (SAAR) of around 14 million vehicles, however sales are beginning to slow at the beginning of summer and a return to pre-recession sales levels is not foreseen anytime soon, according to early predictions by analysts at LMC Automotive and Kelley Blue Book.
Graphic by Geman newsweekly Der Spiegel illustrates the effect of a nightmare scenario after the collapse of the euro zone

Horrific Unemployment, Stagnation, Inflation Seen In Euro Zone Collapse

A graphic published by Der Spiegel, Germany's top newsweekly, is making the rounds among global financial blogs and Facebook walls, succinctly putting into numbers the horrific economic carnage a collapse of the common currency union would entail.
Luis De Guindos, Economy Minister, Spain

Spain Officially Asks For Up To $125 Billion For Its Banks

As European leaders prepare for talks later this week regarding the euro zone's economic mess, Spain officially petitioned Monday for up to ?100 billion ($125 billion) in loans to rescue its banking sector.
China Stocks

Week Ahead: Asian Markets Likely To Remain Subdued

The market sentiment is likely to remain subdued in the coming week as increasing expectations of a further global slowdown and economic headwinds from the euro zone will continue to weigh.

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