The Indian government is blocking purchases of telecoms equipment from Chinese vendors on national security grounds, ratcheting up trade tensions between Asia's fastest-growing large economies.The practice has prompted complaints from Beijing and is causing havoc for mobile operators in India, which need enormous amounts of equipment to sustain an industry that is adding 20m new users a month.
Unemployment in Spain has reached 20.05 percent, meaning 4.6 million people are out of work, the Spanish government announced Friday.The figure, from the first quarter, is up from 19 percent and 4.3 million people in the previous quarter. It represents the highest unemployment rate in the European Union.
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With unemployment still at a severe high, a majority of states have drained their jobless benefit funds, forcing them to borrow billions from the federal government to help out-of-work Americans.A total of 33 states and the Virgin Islands have depleted their funds and borrowed more than $38.7 billion to provide a safety net, according to a report released Thursday by the National Employment Law Pr
The economy seems to be recovering but is "far from being out of the woods," Federal Reserve chief Ben Bernanke said in a speech Wednesday.Bernanke, speaking before the Dallas Regional Chamber business group, said unemployment remains one of the "toughest problems" for policymakers, and one that he expects to ease only gradually.