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Economics News and Commentary |
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News: BBC News: Economy
Eurozone rates increase to 4.25%
Interest rates in eurozone countries increase for the first time in 12 months in a bid to combat inflation.
Oil price hits yet another record
Oil prices continue to climb with US light crude at a record closing price and London Brent above $146.
Service sector adds to UK gloom
The UK service sector shrank in June at its quickest rate in nearly seven years, adding to economy gloom.
US loses 62,000 jobs during June
US firms cut jobs for a sixth month in June, stoking fears the world's largest economy is heading for a recession.
Tough deals 'slow wage inflation'
Average wage inflation has eased following a series of tough public sector pay settlements, research shows.
Dow Jones becomes a bear market
The Dow Jones Industrial Average closes more than 20% below its October peak, making it a bear market.
Stars back music copyright system
Music stars and composers are in Brussels to campaign against changes to the rules governing music copyright.
China to increase grain output
China's cabinet approves a plan to ensure grain production keeps pace with strong domestic demand.
Opec head sees new oil price rise
The president of oil producers' cartel Opec tells the BBC crude oil prices could rise still further this week.
Paulson admits regulatory errors
The system for regulating US banks should have performed better, US Treasury Secretary Hank Paulson admits.
US factory orders show weak rise
US factory orders grew by just 0.6% in May, the weakest growth for three months, the Commerce Department says.
McCain urges Colombia trade deal
White House hopeful John McCain urges approval of a US free trade deal with Colombia as he tours the country.
Hauliers protest over fuel prices
Hundreds of lorry drivers travel to London for another protest against the damage they say rising fuel prices are causing.
Inward investment success for UK
Foreign firms continue to see the UK as an attractive place to do business, official figures on new investments show.
Fall in UK equity withdrawal
The amount borrowed by people cashing in on the increased value of their homes has fallen.
Merger forms transatlantic union
Britain's biggest union, Unite, is merging with the US-based United Steelworkers union to create a new "global" body.
India truckers strike over fuel
Nearly four million trucks go off India's roads after their owners begin an indefinite strike to protest against rising fuel bills.
EU trade chief lambasts Sarkozy
EU Trade Commissioner Peter Mandelson accuses French President Nicolas Sarkozy of undermining him.
Credit crunch makes it into the dictionary
New entries in the latest edition of the Concise Oxford English Dictionary include credit crunch, and non-dom.
Russian risk
Has the TNK-BP row spooked foreign investors?
Oil compromise
Iraq's challenge of reviving its oil industry
Ocean robbery
Illegal fishing is a blight on nature and the poor
Safety net
A US state aims to ensure health insurance for all
Gloom deepens
A week is a long time in the UK economy
Free-for-all
Kenyans suffer as foreign trawlers grab their fish
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