The government has announced a second package of measures to encourage banks to lend to individuals and businesses. The long list of policies includes a scheme to offer insurance against banks losing more money from the bad debts that started the credit crunch. Prime Minister Gordon Brown said the...

The EU is facing a “deep and protracted” recession, according to forecasts made in Brussels and released on Monday, Jan. 19. More economic contraction and rising unemployment are on the horizon, Brussels said. The 16 nations which use the euro will see their economies shrink by 1.9 percent, while...

The worldwide economic crisis has significantly shaken Europe’s economies. No country can sit back and wait it out. With a series of economic stimulus packages, nations hope they can weather the storm. At their summit in December, the EU countries’ heads of state agreed to launch economic stimulus packages...

The three parties of Germany’s grand coalition have agreed on a fresh round of stimulus measures worth billions to protect the weakening economy. But some already worry the package will not offer the help that’s needed. In talks held late into the night on Monday, Jan. 12, the governing...

The company demonstrated the technologies, along with another one designed to block malware from getting into corporate networks, to reporters and briefed them on its research and development strategy at an event it dubbed ‘Innovation Showcase’ in California on Wednesday. Virtualisation technology that essentially creates different machines on the...

Under normal circumstances, the election of Barack Obama would have meant a lot for your wallet. As a candidate, Obama promised to shift the burden of taxes toward the affluent, get health coverage to the uninsured and slap tougher regulations on financial products. But these aren’t normal circumstances. Major...

For the British, skiing in the Alps has suddenly become unaffordable and those summer vacations on the Costa Brava are under grave threat. The pound, formerly one of the world’s most expensive currencies, is only worth a bit more than the euro. Brits, however, are still insistent in their...

Euro zone economic sentiment hit an all-time low in December and German exports posted a record drop, pointing to a fast-deepening recession and piling pressure on the European Central Bank to keep cutting interest rates. The European Commission said economic sentiment in the 15 countries using the euro fell...

First Merkel said Germany didn’t need a new economic stimulus package. Then she said there would be no tax cuts. But on Friday, her party presented its proposal for a 50 billion euro plan, complete with lower taxes. And it comes not a moment too soon. Germany’s first economic...

Bleak economic data in Europe and disappointing December retail sales figures in the United States unsettled financial markets on Thursday, strengthening the case for more government stimulus and encouraging rate cuts. The Bank of England, which cut its key interest rate to an historic low of 1.5 percent from...