LONDON: Britain, which emerged from recession in the final quarter of 2009, faces a “high” risk of relapse and below-average growth in the next two years, the British Chamber of Commerce warned on Sunday. “The UK economic outlook will remain highly uncertain for a considerable time,” the BCC said in the group’s latest economic forecast. [...]

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BRUSSELS: The European Union, shaken by Greece’s fiscal crisis and struggling to get its new institutions into gear, hopes to relaunch itself this week as leaders mull improved, coordinated economic governance. Europe’s post-recession economic woes, highlighted by the swelling deficits of Greece and others, will be the focus of a European Union summit on Thursday. [...]

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There is a “serious risk” the global economy could slip back into recession if worldwide government stimulus measures are taken away, George Soros, chairman of Soros Fund Management, told CNBC Wednesday. “The global economy has been stabilized; the artificial life support has worked. But we are not out of the woods because if we withdraw [...]

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Eurozone data showed that unemployment hit 10 per cent in November – matching the jobless rate in the US. It was the first time that eurozone unemployment reached double digits since the introduction of the single currency a decade ago. The US has now lost 7.2m jobs since the start of the recession, while the [...]

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WASHINGTON: Federal Reserve members expressed concern at a policy meeting last month that unemployment would “remain elevated for quite some time,” and limit economic growth, minutes released on Wednesday showed. The minutes from the December 15-16 Federal Open Market Committee showed a range of economic views from central bank policymakers and staff but persistent worries [...]

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The U.S. economy will slip back into recession in the second and third quarter of 2010 as the boost from fiscal stimulus measures and inventory rebuilding wears off, James Shugg, senior economist at Westpac Bank, told CNBC Wednesday. “In the second half of this year, starting in the second quarter, a bit of a mismatch [...]

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CAPE CORAL, Fla. — After an improbable rise from the Bronx projects to a job selling Gulf Coast homes, Isabel Bermudez lost it all to an epic housing bust — the six-figure income, the house with the pool and the investment property. Now, as she papers the county with résumés and girds herself for rejection, [...]

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OPTIMISTICALLY CAUTIOUS By ERROL OH, The Star Online, 2 Jan 2010 JUST about everybody is glad to finally see the back of 2009. We always greet the new year with a sense of hope, but this time, the optimism seems stronger than usual, perhaps tinged with the relief of closing an economically insipid year and [...]

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