World economy

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S&P: California’s aggressive austerity won’t solve its huge deficit

free advice on getting your ex girlfriend back NEW YORK | California's new fiscal year begins July 1 with a massive problem: a $16 billion hole, the biggest deficit of the 50 states. Without one budget in place, the Golden State would not be able to make certain payments to schools or pay salaries of officials and their staff. While part of Europe suffers from austerity, California's lawmakers are also…


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Chinese interest rates: it’s about politics

LONDON | The People's Bank of China eased the cost of credit with a 25-basic point cut on the benchmark interest rates, unlike its counter-parties in Europe. The Chinese central bank set the 1-year lending rate at 6.31 percent from 6.56 percent, and issued new conditions under which retail banks are allowed to offer loans, now with a 20 percent discount instead of the previous official 10 percent. Is the…


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IN DEPTH | Africans thriving for business, not development aid

make your ex gf come back NEW YORK | She has traveled from South Africa to New York, almost 8,000 miles (13,000 kilometers), to do some useful networking. Melanie Medell, who runs her own textile company in Cape Town, is one of the 47 African women from 37 countries participating in the third annual Africa Women Entrepreneurship Program (AWEP). During three weeks, they will engage in conferences and professional training…


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Friday’s German chart: industrial production falls again

how to get your ex girlfriend back in a month LONDON | In came this week the numbers of German industrial production, and those who stir up the threat of an approaching euro area-wide recession saw its arguments confirmed: from March to April, Germany registered a 2.2 percent decline, a whole 1.2 percent under market expectations. The figure, 2.2 percent from 2.8 percent in March, placed that month's industrial production…



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Emerging economies heat up global tourism activity

How To Get Your Ex Girlfriend Back In the last six years citizens’ expenditure from emerging and fast growing economies in international tourism services has more than doubled, whereas in the G7’s it has barely grown. The gap in the aggregate expenditure is closing very fast, according to BBVA recent research. While in 2005 the total of the emerging block was only a quarter of the G7’s, in 2011 it was more…


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Japan on the horizon

By Luis Arroyo, in Madrid | Peeking into Japanese modern economic history is a must for most Europeans, since we are plunging into the same mud waters that country has gone through for twenty years. Japan seems to have succeeded in leaving the 1990 crisis behind, a crunch not altogether different from our predicament. On the positive side, there is the fact that now we know it could have returned…


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Tuesday’s euro chart: quasi-improving consumer sentiment

The euro zone index of consumer sentiment in May confirmed a relative improvement this month, drawing a less negative private consumption this quarter. This would indicate a rate of contraction in both the first and the second quarter of about -0.5% (-0.7% in the fourth quarter). Retail sales data, to be published today, are expected to slowdown its worsening. They would also point to a contraction rate of about -0.5%….


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Little dynamism in the French economy

By CaixaBank research team, in Barcelona | In spite of an improvement in the economic climate in February and March, available indicators point to stagnation in the first quarter of 2012, representing a slowdown compared with the 0.2% quarter-on-quarter expansion in GDP posted in the last quarter of 2011. We have kept to our forecast of very modest growth for the whole of 2012 due to the situation of some…


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U.S. graduates: victims of the next bubble?

NEW YORK | At 27 years old, Andrew Legrand doesn’t own a house nor a luxurious car. And yet he has over $100,000 in student debt. He graduated from law school in Florida last June but he still hasn’t started to pay off his bills. As he explains to The Corner, he feels anxious that the clock is running. “I didn’t have any debt prior to school. Now I owe $100k…