Average rents for U.S. apartments fell in the fourth quarter, as a sharp economic downturn and rising unemployment left Americans unwilling to pay higher prices, according to data released on Wednesday. Rents fell 0.4 percent in the final quarter of 2008, the first decline since early 2003, the study by real estate research firm Reis
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British Prime Minister Gordon Brown will announce plans to spend 140 million pounds ($205 million) to create an extra 35,000 apprenticeships later on Wednesday, his office said in a statement. Brown pledged on Sunday to ease the pain of recession by creating around 100,000 jobs through a public works scheme, and the plans for extra
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By Koh Gui Qing Australia can no longer escape slipping into its first recession in 18 years this year as unemployment is set to rise more than expected following a surprisingly sharp economic deterioration in the past month. The weak spots, to name a few, include lower export earnings and slowing business investment, all in
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A high-profile Chinese lawyer demanded on Wednesday that the government open its books to the public in an unusually direct display of the legal activism that the Communist Party sees as a growing threat to its rule. Yan Yiming, an attorney who has made his reputation taking on listed companies that misled investors, presented an
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Global stocks rose on Wednesday, extending a rally into a 10th straight day, inspired by hopes massive U.S. government spending and tax cuts will continue to support the dollar and stimulate demand for exports. Asian stocks hit a two-month high but European indexes opened slightly weaker, snapping a six-session winning streak. The U.S. dollar was
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Marks & Spencer, Britain's biggest clothing retailer, reported its worst quarterly sales performance for a decade and said it would cut around 1,230 jobs in a bid to save money in a tough trading environment. The 125-year-old clothing, food and homewares group said on Wednesday UK like-for-like sales fell 7.1 percent in the 13 weeks
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The EU-harmonised inflation rate (H ICP) in Cyprus fell for the second consecutive month in December, by 1.01% compared with a fall of 1.2% in November. The largest fall was recorded in housing, electricity, water and gas, which fell by 4.89% compared with the previous month, as a result of falling international oil prices. Transport
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The two community leaders in Cyprus reached agreement Monday on the issue of harmonisation and cooperation between the federal government and the constituent states. This was achieved during their first meeting of 2009, within the framework of direct negotiations which began last September with the aim of reaching a solution to the island’s 34-year division.
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The leaders of the two communities in Cyprus will hold today their first meeting for 2009 in the framework of the UN- led negotiating process, which began in September with a view to reach a solution of the Cyprus problem. President of the Republic of Cyprus Demetris Christofias and leader of the Turkish Cypriot community
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Officials from the Federal Reserve and the European Central Bank on Sunday vowed to fight the damaging effects of deflation as the global economy suffers a deep and lengthy recession. In just a few months, central bankers' concerns have flipped from fighting inflation to staving off possible deflation — a condition in which falling prices
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