World economic crisis news

The staggering figures released Friday on the US labor market demonstrate that what has developed since the Wall Street crash one year ago is not a conjunctural downturn, but an historic assault on working class living standards: here.

The Treasury Department and the Federal Reserve lied to the American public last fall when they said that the first nine banks to receive government bailout funds were healthy, a government watchdog states in a new report released today: here.

The Puerto Rican government’s announced layoff of 17,000 public employees has provoked protests and strikes: here.

The ongoing drought in India, whose immediate cause is an abysmal monsoon, has dealt a cruel blow to hundreds of millions of desperately poor agricultural labourers, small farmers, and their families: here.

Save The Children revealed on Monday that nearly two million children under the age of five die due to inadequate health care in India annually – more than in any other country: here.

France Telecom’s second-in-command resigned on Monday in the face of mounting criticism over a spate of suicides at the firm: here. Also about France: here.

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