Economic recession news update


United States economic crisis and Wall Street bonuses, cartoon

US Labor Department data released yesterday showed labor productivity up 6.4 percent in the second quarter, the largest gain since 2003. Over the same period, workers’ compensation fell at an annual rate of 2.2 percent: here.

Australia’s unemployment figures for July revealed a dramatic cut to working hours and an ongoing shift from full-time to part-time work: here.

The Financial Service Authority (FSA) has revealed that it has watered down its proposals to stop Britain’s fat cats raking in millions in unearned bonuses: here.

Part-nationalised Royal Bank of Scotland has reportedly agreed a “golden hello” worth more than £7 million to hire a fat-cat banker.

Environmental campaigners have struck again, targeting the head office of Royal Bank of Scotland (RBS) in London: here.

‘THE world economy remains in a deep recession and its financial system in a fragile condition,’ said Bank of England governor Mervyn King yesterday. These were his first words as he opened his press conference, stamping on the desperate optimists who had already claimed to have spotted the green shoots of recovery: here.

Trump’s “class war” concept in the USA: here.

4 thoughts on “Economic recession news update

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  4. Pingback: Banking boss gets 50% pay rise | Dear Kitty. Some blog

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