UNEMPLOYMENT

A Spanish flag flutters over the Bank of Spain in Madrid

Fitch and S&P Downgrade Spanish Banks

Ratings agencies Fitch lowered its ratings on four big Spanish banks while Standard & Poor's cut its rating for the industry as a whole on Monday following recent sovereign downgrades and on concerns of funding difficulties and a weak economy.

Greece: European or Not?

Greece
There is another element to this ongoing drama – Greece’s resentment of Western Europe and the feeling that Greeks don’t feel like they are a part of Europe.
Immelt speaks at a news conference after a "Jobs for America Summit" at the U.S. Chamber of Commerce in Washington

Defying Weak Economy, GE To Go on U.S. Hiring, Plant-Building Spree

General Electric Co., the blue-chip U.S. conglomerate widely seen as a bellwether of the state of the American economy, is going on a hiring spree. The company is set to employ 12,000 new workers over the next five years, including 5,000 veterans hired through a special priority-placement program, GE said Monday.
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Greece: A gasoline bomb thrown by protesters explodes over riot-control officers

Protests Rage Across Europe, Middle East [PHOTOS]

Tens of thousands of protesters took to the streets in several nations this weekend demanding political justice, economic opportunity, and a change to the status quo. Demonstrators -- who powered the Arab Spring, the worldwide Occupy protests during the summer, and the anti-austerity marches of the European autumn -- are back on the streets in a winter of discontent.
International Business Times Logo

Bulls Won't Be Tamed by Weak Profits

Despite a mediocre earnings season and signs of an overbought market, Wall Street bulls are likely to remain in control this week.
Kohl's store in Westminster

Kohl's to Award Scholarships for Young Volunteers

Kohl's Department Stores has introduced Kohl's Cares Scholarship Program which will award more than $420,000 in scholarships and prizes, ranging from $50 Kohl's gift cards to $10,000 scholarships, to more than 2,200 young volunteers who have made a positive impact on their communities.
Riot policemen walk in front of the parliament during an anti-austerity rally in Athens February 11, 2012.

Greece Appears Set to OK Bailout as Germany Demands Action

Greek lawmakers looked set to agree to a deeply unpopular bailout deal on Sunday to avert what Prime Minister Lucas Papademos warned would be economic chaos, and Germany demanded Athens dramatically change its ways to stay in the euro.
Demonstrators In Lisbon's Terrero Do Paco Square

Austerity: It's as Unpopular in Portugal as in Greece [PHOTOS]

More than 100,000 people packed Lisbon's vast Palace Square on Saturday in the largest rally against austerity and economic hardships since Portugal resorted to a European Union/International Monetary Fund bailout last May -- and organizers vowed to step up protests and labor action.
Specialist trader Frank Masiello, left, takes an order from trader Jonathon Corpina on the floor of the New York Stock Exchange on Friday. Feb. 10, 2012

Wall Street Week Ahead: Weak Earnings Reports May Not Tame Strong Market Bulls

Despite a mediocre earnings season and signs of an overbought market, Wall Street bulls are likely to remain in control next week. There are a number of catalysts that have helped the market this year, including a slew of improved economic data and the Federal Reserve's vow to keep interest rates low.
Police detain a protester during demonstrations in Athens Friday

Greek Debt Crisis: PM Asks Government to Pass Deal, Warning of 'Recession, Instability, Unemployment and Destitution'

Greece's prime minister struck back at critics in a letter to his Cabinet Friday evening, delivering a rousing plea in which he asked Greek government officials to coalesce behind a new ambitious but achievable program of fiscal austerity; however, the letter acknowledged that would be difficult politically, difficult economically, and socially difficult.
U.S. President Barack Obama

Obama's Proposed Fiscal 2013 Budget Has $901B Deficit

The fiscal 2013 budget President Barack Obama will present to Congress on Monday will include hundreds of billions in infrastructure spending and a projected deficit of $901 billion, or about 5.5 percent of the nation's gross domestic product.
French President Nicolas Sarkozy

French Elections: Sarkozy’s Last Stand?

French President Nicolas Sarkozy is up for re-election this year. He faces stiff competition from both the Socialist Party and the extreme right National Front. With France's economy in shambles, Sarkozy's re-election prospects look slimmer every day.
Nigeria oil subsidy fraud

Nigeria: Oil, Poverty, and an 'Ungodly Mess'

Thanks to expansive oil fields and a reservoir of millions of barrels of crude, Nigeria is the third-richest country in Africa. But due to corruption, poor wealth distribution, and lack of infrastructure, the nation's people suffer from staggering rates of poverty.
Olli Rehn, Evangelos Venizelos

Greece-EU Deadlock Continues; Eurozone Finance Ministers Warn Athens

Greek political leaders said they had clinched a deal on economic reforms and spending cuts needed to secure a second bailout, but eurozone finance ministers demanded more measures and a parliamentary seal of approval. Finance ministers of the 17-nation eurozone meeting in Brussels warned there would be no immediate approval for the rescue package.
John Boehner

Republicans Push for Action on Payroll Tax

Republicans expressed frustration Thursday at the slow pace of negotiations over extending a tax break for workers that expires at the end of the month, accusing President Barack Obama and Senate Democrats of blocking agreement.
Athens demonstrators

Greece Bailout Plan Details Disdained In Brussels, at Home

Hours after Greece's ruling coalition announced it had concluded an 11th-hour agreement on new austerity measures in an effort to satisfy foreign lenders, it seemed that everyone - from creditors abroad to political allies back home - was turning on the Greek leadership.
Greece

Greeks Clinch Austerity Deal, but Lenders Skeptical

Greek political leaders clinched a long-stalled deal on Thursday on harsh austerity measures and reforms required to secure a second international bailout in two years but the country's financial backers reacted skeptically.
Romney Condoms

Romney Condoms Launched; ‘Never Settle’ for the Louis Vuitton Ones [PHOTOS]

Fresh off the Louis Vuitton condoms hype on Twitter and as the birth control debate gains more steam, a new type of condom is making a splash on the Internet: Romney condoms. They are the latest attempt at poking fun at Mitt Romney, the Republican presidential candidate, and were launched on Wednesday.

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