Spaniards protesting against medical spending cuts in Madrid on February 17, 2013. Amid fresh reports of Royal family corruption, furious Spaniards are set to stage massive nationwide protests against severe budget cuts. Massive protests have been planned for Saturday in Madrid, Barcelona and other cities. Teachers, students, miners, medical staff, workers from various sectors, along with a number... 

Aircraft are stationed on the tarmac of Madrid’s Barajas airport during a one-day strike by the pilots of the Spanish airline Iberia. Workers at Spain’s flag carrier airline Iberia have launched a five-day strike over its plan to cut over 3,800 jobs and reduce salaries. The walkout, which is supported by luggage handlers, pilots and flight attendants, has forced Iberia to ground 415 flights from... 

Greek pensioners shout slogans during a march in central Athens to protest against the government’s austerity measures. Greek pensioners have demonstrated in Athens to protest against the government’s harsh austerity measures and highlight the consequences of the program on their life. On Thursday, hundreds of elderly braved the heavy rain in the capital and marched to the country’s Labor... 

Military leadership worries over loses to Russia and China – As the United States reduces its military budget due to the economic crisis, the country’s main competitors do not. It has made Washington raise concerns for fear of losing its leadership in this area. Although it remains unclear whether Washington can overcome the deadline to avoid the automatic military cuts planned for early... 

The U.S. Justice Department found those to blame in the global crisis of the late 2000s. According to the American authorities, this is Standard & Poor’s. The accused is confused, while the U.S. Justice Department is preparing a lawsuit against the agency. It wants to make Standard & Poor’s accountable for publishing inflated ratings of mortgage bonds. Allegedly, this publication... 

German truck manufacturer MAN expects lower sales and earnings in 2013 after the net profit of the company in 2012 contracted to 189 million euros (USD253 million) in the face of Europe’s faltering economy. According to a statement released by the company on Friday, “MAN Group will see a … decline in revenue and a disproportionately large drop in operating profit in 2013.” “Despite the... 

A grim Ministry of Finance (MOF) report circulating in the Kremlin today warns that Venezuela’s “nuclear option” crashing of its currency yesterday is a “clear signal” that the Western banking systems “house of cards”, erected in the aftermath of the 2007-2008 Global Economic Crisis, is in “total collapse” with the expected final outcome to be an “apocalyptic” crash of the US... 

US President Obama on Sunday insisted that the nation needs additional tax revenue, some of which the government could acquire by closing or reducing loopholes and deductions. “There is no doubt we need additional revenue, coupled with smart spending reductions in order to bring down our deficit,” the president said in an interview aired on CBS. “And we can do it in a gradual way so that it... 

Did you know that the percentage of the U.S. labor force that is employed has continually been falling since 2006 according to the Bureau of Labor Statistics? Did you know that the increase in the number of Americans “not in the labor force” during Barack Obama’s first four years in the White House was more than three times greater than the increase in the number of Americans “not in the labor... 

An analyst says the European Union members will not reach an agreement on the bloc’s next seven-year budget, paving the way for its breakup, Press TV reports. “…When we’re moving into a triple dip recession all around, when top of the agenda for most of the countries is austerity measures, budget cuts and trying to pay off the national debt, the likely of getting people to agree to a trillion... 

Labor Minister of France Michel Sapin called his country a “bankrupt,” which inflicted considerable damage to the already tarnished reputation of President Hollande. The Minister later explained that he meat it ironically, but his black humor was not appreciated. The more so that bankruptcy (due to the situation in Mali and financial problems) may become a reality for France in the near... 

A Japanese electronics manufacturer Panasonic showroom in Tokyo. Embattled Japanese consumer electronics giants Panasonic and Sharp have posted more than USD11 billion in combined losses over the nine-month period ending in December. On Friday, Sharp announced its losses had doubled in the nine months leading to December to USD4.6 billion. Panasonic, meanwhile, said it had lost about USD6.77 billion... 

Spainards protesting against austerity cuts on November 15, 2012. While Spanish Prime Minister is set to present new measures to help the economic recovery, the National Statistics Institute (INE) has reported that the country’s gross national product (GDP) has contracted by 1.37 percent in 2012. According to the report released by the INE on Wednesday, the Spanish GNP fell 0.7% from the third quarter... 

The logo of French car maker PSA Peugeot is seen on a car parked in front of French Economy minstry in Paris, September 11, 2012. French auto-giant Peugeot has reported a 16.5 percent drop in sales of cars and spare parts worldwide as Europe’s financial crisis takes its toll on the country. The business, known fully as PSA Peugeot Citroen, recorded worldwide unit sales in 2012 of “assembled vehicles... 

The British government’s decision to slash services at a London hospital has turned into an unexpected headache that saw 25,000 people march in the city in protest. The protest, on Saturday, was organized by Save Lewisham Hospital campaign group to prevent a planned closure of its new A&E department, Intensive Care, maternity and children’s services. The proposals to cut the services have...