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Fitch: U.S. Credit Card Late Payments Hit Record Highs, Chargeoffs Spike

added: 05-02-2009

Late payments on U.S. credit cards topped record levels and defaults rose sharply to just below all time highs last month as consumers struggled further amid the deteriorating economic environment, according to the latest Credit Card Index results from Fitch Ratings.

US Metropolitan Area Employment and Unemployment in December 2008

added: 05-02-2009

Unemployment rates were higher in December than a year earlier in 363 of the 369 metropolitan areas, lower in 5 areas, and unchanged in 1 area, the Bureau of Labor Statistics of the U.S. Department of Labor reported. Forty areas recorded jobless rates of at least 10.0 percent, while two areas registered rates below 3.0 percent. The national unemployment rate in December was 7.1 percent, not seasonally adjusted, up from 4.8 percent a year earlier.

EP Adopts Legislation to Crackdown on Employers of Illegal Immigrants

added: 05-02-2009

MEPs voted a package of amendments to the directive against the employment of illegal immigrants, but postponed formalising its position until the next plenary session in Brussels. The sanctions directive sets out that employers of illegal immigrants would be penalised while the immigrants themselves would be granted legal conditions of employment. MEPs are calling for criminal law sanctions in the most serious cases and want to make companies responsible for the actions of their subcontractors.

Trans-European Transport Networks: Towards a New Policy for Meeting Future Challenges

added: 05-02-2009

The European Commission adopted a Green Paper setting out the future challenges of its policy for a trans-European transport network (TEN-T). TEN-T policy needs to be realigned to contribute more effectively to objectives aimed at combating climate change and to support Europe's increasing international role through better infrastructure connections with its neighbours and the wider world.

EC Welcomes EP Recommendations on Future EU Climate Policy

added: 05-02-2009

The European Commission welcomes the report adopted by the European Parliament setting out recommendations for future EU policy on climate change. The approval of the final report from the Temporary Committee on Climate Change shows the Parliament's strong support for ambitious EU action to address the climate challenge. Its recommendations are in line with the Commission's thinking set out in last week's Communication on a new global climate agreement.

At 1.5% in December 2008, Annual Inflation in OECD Area Continues to Slow

added: 05-02-2009

Consumer prices in the OECD area rose by 1.5% in the year to December 2008, compared with 2.2% in the year to November. Month-on-month, prices fell 0.5% in December, after declining 0.9% in November.

PRC Must Balance Transport Growth with Environmental Sustainability, Says ADB

added: 05-02-2009

The rapid rollout of transport infrastructure in the People’s Republic of China (PRC) has been at the heart of its economic success but it now needs to place more emphasis on environmentally sustainable transport systems that can help cut the country’s heavy reliance on oil, says a new publication from the Asian Development Bank (ADB).

Manufacturing Take Home Pay Growth Falls to its Lowest Level in 4 Years

added: 05-02-2009

The VocaLink take home pay index shows that wage growth in the manufacturing sector has plummeted to its lowest level since September 2004. As a result, overall take home pay has fallen to 2.7% in January, its weakest growth since November 2006. This decline continues the clear downward trend in take home pay since the recent peak of 4.5% in July 2008.

Fitch: Non-Japan Asia Structured Finance Rating Outlook Largely Stable in 2009

added: 05-02-2009

Fitch Ratings has said in a just published special report, "2009 Non-Japan Asia Structured Finance Outlook", that the more severe economic environment faced by non-Japan Asian countries may ultimately affect the performance of all asset classes within structured finance.

Cohesion Policy in 2008: €38 Billion Paid to Member States is helping to Sustain the Economy

added: 04-02-2009

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