When global freight transportation collapsed to record lows in July of this year most analysts wrote it off as an anomaly. In September, when one of the largest retail shipping companies in the world warned of weakening global economic conditions and announced they would slash thousands of jobs, financial markets barely even noticed. Last week, Google, the largest small business advertising platform... 

Provisional figures released by Greece’s national statistics authority have shown the country’s deficit and public debt for 2011 are worse than estimated. According to provisional data published by ELSTAT statistics agency on Monday, the 2011 deficit stood at 9.4 percent of gross domestic product and the public debt at 170.6 percent. “The revisions as regards the debt ratios are primarily... 

Outgoing Mexican President Felipe Calderon has signed into law a ban on large cash transactions. The ban will take effect in about 90 days and it is part of a broader effort to control monetary flows within the country. Under the law, a Specialized Unit in Financial Analysis operating within the Attorney General’s Office will be created to investigate financial operations “that are related... 

Youths have clashed with the Athens police force, pelting officers with stones and petrol bombs during an anti-austerity march. More than 40,000 have taken to the streets in Greece in a 24-hour strike against wage and pension cuts. Anti-austerity activists faced down police officers, throwing Molotov cocktails and rocks in the center of Athens. Police responded by firing teargas and stun grenades... 

The Swiss Army is preparing contingency plans for violent unrest across Europe. A nation mostly famous for its banks, watches and chocolate fears it may face a massive influx of European refugees in the near future. One of the world’s richest nations openly expressed concerns over the possible outcome of Europe’s continuing financial troubles, and is currently conducting army exercises against... 

What would it be like to schedule a ‘no food’ day for your family, because food prices are too high? As men play with God-like powers such as weather modification, parts of the world suffer from drought and famine. Coincidence or Not? In some parts of the US and the world crop yields are at all time lows since the 1970′s. In fact parts of the US have sustained record drought levels in 2012. Thus... 

New Zealand is to release special commemorative coins depicting characters from JRR Tolkein’s The Hobbit. They are being issued to coincide with the premiere of the Peter Jackson film of the book. The coins will be valued between $25 and $3000. New Zealand has been the setting for all of Peter Jackson’s movies of Tolkein books including the three part Lord of the Rings. The coins will go on sale... 

Rating agency Standard & Poor’s has downgraded Spain’s credit rating by two notches, warning that the deepening economic recession is limiting the government’s options. S&P warned that rising unemployment and harsh austerity measures are likely to intensify social unrest and cause further friction between Spain’s central and regional governments. “The downgrade... 

Greek pensioners shout slogans while marching in central Athens to protest the new austerity cuts on October 8, 2012. Greek police in the capital city of Athens have clashed with pensioners protesting against the government’s new round of austerity measures. On Monday, hundreds of Greek pensioners staged a rally outside the office of the European Union (EU) in Athens where police officers used batons... 

Striking platinum miners gather outside the Amplats mine in Rustenburg, South Africa on October 5, 2012. The world’s biggest platinum producer, Amplats has fired 12,000 workers after they held a wildcat strike for three weeks at its mine in South Africa’s eastern town of Rustenberg. “Approximately 12,000 striking employees chose not to make representations, nor attend the hearings, and have... 

Business Secretary Vince Cable says the UK economy is “in a very deep crisis”. The British Business Secretary Vince Cable says the UK economy is currently “in a very deep crisis”. Cable told the state-run BBC that it is “very difficult” to predict when the UK economy would recover from the recession and resume growth. Meanwhile, the Markit/Cips purchasing managers’ index (PMI) for services... 

An analyst says people across the European Union countries must fight against the global banking cartel, which is controlling economies all over the world, Press TV reports. “The competitiveness is they control the system and the people in these nations they fight over the scraps. It’s ridiculous,” said Chris Dorsey, an economist and banking analyst, in a Monday interview with Press TV. “I... 

Portugal Finance Minister Vitor Gaspar Portugal finance minister announces an income tax hike for the 2013 budget as the unemployment rate is expected to hit 16.4% the same year. On Wednesday, the Portuguese Finance Minister Vitor Gaspar had announced that the average tax hike would rise from 9.8 percent to 13.2 percent in 2013, adding that the unemployment rate is also expected to rise from 16 percent... 

Car making capital of the world: As well as British brands, many foreign car companies are also based in Britain Britain has become the car capital of the world as experts predict we will be making 2.2million vehicles a year by 2016. Despite the British car-making industry reaching the brink of collapse just a few years ago, the automobile industry has made a startling come back. Mini, Jaguar and Range... 

Uruguayan Foreign Minister Luis Almagro Uruguayan Foreign Minister Luis Almagro has told leaders and diplomats gathered in New York for a UN session that the US trade embargo on Cuba violates international law. Almagro made the remarks on Saturday in an address during the 67th session of the United Nations General Assembly. “Our country rejects any coercive unilateral or extra-territorial measure...