EUROPEAN BANKS INCREASES PROFITS DURING ECONOMIC CRISIS. The European Central Bank (ECB) made 17 billion euros (24.26 billion dollars) thanks to the financial crisis, Dutch daily newspaper Volkskrant reported on Tuesday. Volkskrant calculated the ECB received 19.2 billion euros in interest originating from the nearly 14,000 billion euros in loans it provided since September 2008. Most banks subsequently deposited their loans with the ECB, which paid them 2 billion euros in interest. One 442-billion-euros loan provided to the bigger European ... Read More

EU EXPERIENCING INCREASE IN UNEMPLOYMENT European unemployment rose in July, data released Tuesday showed, despite signs that the recession was starting to loosen its grip on the region's economy. Unemployment in the 16-member eurozone hit a more-than 10-year high in July, Europe's statistics office Eurostat reported. The numbers of the out of work in the broader 27-member European Union (EU) edged up to 9.0 per cent in July, compared with 8.9 per cent in June. EU unemployment came in at 7.0 per ... Read More

AUSTRIA BEATS GLOBAL GLOOM AND DOOM. Australia’s Government handouts and mineral exports to China have kept Australia out of recession, officials in Canberra said Wednesday. The economy grew 0.6 per cent in the June quarter, making it the only advanced economy not to experience contraction this year. Stimulus packages costing 42 billion Australian dollars have taken the budget deeply into deficit and generated fears of not just higher interest rates but ... Read More

Another American Credit Union hit’s the dust. The Kaiser Lakeside Credit Union has been closed. If anyone who reads this has any stock in this company you may want to get out now before its too late if it isn’t’ already. With Kaiser Lakeside there was approximately 3,500 members and $24 million in assets. After the closure DFI( the California Department of Financial Institutions). The liquidation of ... Read More

C&C expecting to expand. Many employees feared job losses at Bulmers manufacturer C&C now feel safe due to company talks of an expansion. C&C is now talking about expanding into Finland and Sweden. They are looking at the United States and waiting for signs that show potential for growth. Mr. Dunsmore the Chief Executive officer revealed the 80pc of on trade outlets, included pubs and hotels have passed on only 7pc of 10pc decrease in the price of its pints. ... Read More

Wage Cuts Look To Be On The Horizon Aer Lingus Chief warns that wage cuts may be coming. After word from Chairman Colm Barrington stated that wage cuts were most assuredly on the way strikes are feared. Those comments came after the airline revealed the €93m loss for the first half of the year. The restructuring plan is expected to be announced within 2 months, and it appears that jobs may be lost as part of the new plan. As ... Read More

TIME TO OPEN OUR WALLETS. It appears 19 roads have been designated across the country as motorways. This issue is though is that 6 have not been built yet. The National Roads Authority(NRA) has run out of money to build new roads the public sector is being looked at for the funding of € 1bn. The roads are on the west and east coasts and this would include an upgrade of the Newlands Cross in Dublin that allows traffic ... Read More

LENIHAN TO DEAL WITH BAD BANK LOANS. Finance Minister Brian Lenihan is looking at a major change to NAMA. This change will prevent banks from handing over their bad loads for cash from the government. Mr. Lenihan is also expected to release more information on the NAMA purchases next month. For right now he is looking at everything everyone including the Green Party had to say ... Read More

IL&P reports lower than expected returns. Irish Live & Permanent (IL&P)has reported a worse than expected earnings in the first half of the year. They have stated ... Read More

American Tourist causes issues. An American tourist struck a deal with the acting manager of Nimmo’s Hostel on upper Dominick Street to work in return for free room. But over the last 6 days he skimmed € 2,029.72 from its revenues. The tourist has been charged with 6 counts of theft. ... Read More