Economy & Business

Quarter of Europeans face poverty – Eurostat

Quarter of Europeans face poverty – Eurostat

Over 124 million people in the European Union – or almost a quarter of its entire population – live under the threat of poverty or social exclusion, a report by EU’s statistical office has revealed. Last year, 124.5 million people, or 24.8 percent of Europe’s population were at risk of poverty or social exclusion, compared […]

‘Revolution!’ Thousands pour in for pro-EU rally in Ukraine, storm govt buildings

‘Revolution!’ Thousands pour in for pro-EU rally in Ukraine, storm govt buildings

Thousands of demonstrators chanting ‘Revolution!’ have flocked into ‘Maidan’ square in Kiev despite a court-imposed ban on rallies. The protesters have reportedly taken several government buildings. Follow RT’s LIVE UPDATES on protests in Kiev.  Chanting protesters displaced metal barriers that were installed by police on Independence Square, also known as Maidan (Ukrainian for “square”), as more are […]

Thai protesters besiege 4 more ministerial buildings

Thai protesters besiege 4 more ministerial buildings

Thai opposition protesters have targeted several more government ministries on Tuesday in a continuation of their effort to depose Prime Minister Yingluck Shinawatra’s government. It comes a day after they took over two ministries. “We have to leave because [the protesters] will cut the utilities,” Tourism and Sports Minister Somsak Pureesrisak told AFP. He added the […]

Thousands of Greeks mark 40th anniversary of student uprising, protest against austerity

Thousands of Greeks mark 40th anniversary of student uprising, protest against austerity

More than 16,000 Greeks marched through the streets of Athens on Sunday to protest against austerity and mark the 40th anniversary of the student uprising against the former ruling military junta. The annual march comes as Greece reels from its sixth year of recession. European Union and International Monetary Fund (IMF) lenders are set to […]

10k public workers protest for better pay in Chile

10k public workers protest for better pay in Chile

Some 10,000 public sector workers in Chile have taken to the streets in the capital to protest over stalled discussions on better wages. The protest march was held in the capital Santiago on Wednesday as a part of a two-day strike called after the government suspended a meeting to resume negotiation talks on pay increases. […]

Protesters block ports, highways across Brazil as unions aim to take control

Protesters block ports, highways across Brazil as unions aim to take control

Riot police used tear gas and water cannon to disperse masked protesters in Rio de Janeiro on Thursday, as demonstrations continued throughout Brazil. Unions are demanding better work conditions and tougher government measures to tackle inflation. Tens of thousands of union members marched throughout the country, blocking roads and grinding traffic to a crawl in […]

‘Citizens’ tide’ of anti-austerity protests hit Spain; dozens injured, arrested

‘Citizens’ tide’ of anti-austerity protests hit Spain; dozens injured, arrested

Tens of thousands of protesters from all walks of life gathered in cities across Spain to oppose economic hardship and corruption sparked by the financial crisis. Dozens were injured or arrested in Madrid in disturbances following the peaceful rally. Thousands marched on the Spanish parliament in Madrid amidst a clamor of drums and whistles in […]

4 commit suicide in Spain over evictions

4 commit suicide in Spain over evictions

A 46-year-old man has killed himself in Alicante, Spain, over the threat of being evicted from his house. It was the fourth case this week in Spain of a suicide committed over an eviction. ­The tenant, a transporter by profession, hanged himself, local press reported. He allegedly had not paid rent for the last five […]

Man trampled as hundreds of desperate Greeks scuffle for food

Man trampled as hundreds of desperate Greeks scuffle for food

A fruit and vegetable handout in Greece led to one man being trampled on Wednesday, calling attention to the desperate conditions in the crisis-hit country. Some 55 tons of produce was given away by farmers who were protesting high production costs. The person was injured when he was pushed by a crowd trying to grab […]

Clashes in Athens as protesters break into govt. building

Clashes in Athens as protesters break into govt. building

Austerity enraged protesters broke into a government building and threatened the labor minister, Wednesday. Riot police then intervened with tear gas, batons and pepper spray, with one person taken to hospital. The protest, by a few hundred people, was organized by a Communist backed labor union, and took place in front of the Labor Ministry […]

Belgian police fire water cannons to disperse striking ArcelorMittal workers

Belgian police fire water cannons to disperse striking ArcelorMittal workers

Water cannons have been used against stone-throwing demonstrators in the Belgian city of Namur, as thousands rallied against the closure of a factory that will put an end to 1,300 jobs. Dozens of riot police were deployed to quell the tensions. Many protesters are wearing respirators to protect themselves against the police crackdown. The rally […]

Sub-continental sub: Another Indian submarine modernized in Russia

Sub-continental sub: Another Indian submarine modernized in Russia

Russia’s leading shipyard has finished deep modernization of yet another Indian submarine. Armed with latest multi-role missile system, radar and electronics, the sub promises to become the game-changing backbone of the Indian Navy. ­The ceremony of signing the transfer and acceptance act of the diesel-electric submarine INS Sindhurakshak (Sea giant) SSK Kilo Class has been […]

Tens of thousands march in Washington anti-abortion rally

Tens of thousands march in Washington anti-abortion rally

A massive anti-abortion march hit Washington, DC, on Friday as tens of thousands opposed to the right to choose descended on the National Mall to protest Roe v. Wade, the landmark 1971 decision that legalized the termination of pregnancies. Participants in the annual March for Life walked to the steps of the US Supreme Court […]

UK to exit EU if there is no reform – Cameron

UK to exit EU if there is no reform – Cameron

Britain will move to exit the EU if significant reforms are not made to the structure of the union, said UK Prime Minister David Cameron. He warned the organization was heading for a degree of integration “outside the UK’s comfort zone.” Cameron stressed the solution was to hold an “in-out referendum” on Britain’s membership of […]

British ‘brain drain’: Young talent quits UK for warmer economic climes

British ‘brain drain’: Young talent quits UK for warmer economic climes

Millions of people have emigrated from the UK over the last 10 years, most of whom seek to find a job in a more favorable economic climate. Graduate immigration is on the up as well in what’s been dubbed as the ‘talent drain’ by the British press. According to statistics accumulated by the Office of […]

Worldwide unemployment soars, young workers most vulnerable – UN report

Worldwide unemployment soars, young workers most vulnerable – UN report

Global unemployment is at a record high in the wake of the financial crisis, says a UN report. A rise in joblessness of 5.1 million is expected in 2013, impacting the world’s youth hardest in a climate of stifling austerity and economic instability. UN agency, the International Labor Organization (ILO) released its annual report on […]

Benefits Britain? Unemployed households among highest in EU

Benefits Britain? Unemployed households among highest in EU

The UK has some worst figures for households where no one works in Europe. The latest statistics also indicate that Britain’s lower unemployment rate may hide a sub class who prefer a life on benefits. ­Greece and Spain, whose overall unemployment rate is higher than Britain’s, at 26.8 per cent and 26.6 per cent respectively, […]

World’s 100 richest earned enough in 2012 to end global poverty 4 times over

World’s 100 richest earned enough in 2012 to end global poverty 4 times over

The world’s 100 richest people earned a stunning total of $240 billion in 2012 – enough money to end extreme poverty worldwide four times over, Oxfam has revealed, adding that the global economic crisis is further enriching the super-rich. “The richest 1 percent has increased its income by 60 percent in the last 20 years […]

Market Buzz: No major moves as world awaits US corporate earnings reports

Market Buzz: No major moves as world awaits US corporate earnings reports

Global investors are expected to hold off on major action until corporate reports from the US give an indication of the state of the world’s largest economy. Uncertainty around the US debt ceiling has added to an overall market malaise. “In the near future they expect quarterly reports of American banks to be released, with […]

Iran biggest exporter of fuel oil in the world: Official

Iran biggest exporter of fuel oil in the world: Official

A senior Iranian oil industry official says the Islamic Republic is the world’s leading exporter of fuel oil, selling an average of over 16 million liters per day of the product regardless of US-led sanctions. Managing Director of the National Iranian Oil Products Distribution Company (NIOPDC) Mostafa Kashkouli said on Tuesday that Iran has exported […]

World Bank says US budget poses global risk

World Bank says US budget poses global risk

U.S. budget battles are restraining economic growth around the world, posing a greater risk to the global economy than even a renewed euro-zone crisis, the World Bank said Tuesday. In new economic forecasts, the bank said it expects the global economy to expand just 2.4% this year, barely better than the weak pace of 2012. […]