UK: Jobless rate soars to 13-year high : A job is now being lost every 30 seconds : McDonald's receiving 2,200 applications a day: Directors and CEOs claiming the dole up 200%
British Airways asks 40,000 staff to work for nothing: The astonishing plea comes as BA faces what Mr Walsh says is a 'fight for survival'.
China sells US bonds to 'show concern' : A decision by China to reduce its US Treasury holdings suggests concern about the US attitude towards its economic woes, Chinese economists were quoted as saying in state media Wednesday.
Russia's Medvedev: Supranational currency will be created: "We are likely to witness the creation of a supranational reserve currency ... which will be used for international settlements," Medvedev told a new conference. "Although volumes will be limited.
Medvedev calls for new reserve currencies: Medvedev has made the proposal before. It reflects both the Kremlin's push for greater international clout and a concern shared by other countries that soaring U.S. budget deficits could spur inflation and weaken the dollar.
Obama Proposes More Powerful Fed: President Obama today proposed broad new powers for the Federal Reserve and the creation of new national regulator to ensure against another financial crisis, the Wall Street Journal reports.
IMF warns on recovery as jobs disappear: Dampening hopes for an early exit from the recession still gripping the global economy, the managing director of the International Monetary Fund, Dominique Strauss-Kahn, warned yesterday that "the large part of the worst is not yet behind us".
Projection: It'll be years before jobs return to much of U.S.: Most of the country — 286 of 325 metro areas covered in the IHS analysis_ aren't likely to regain their pre-recession employment levels until at least 2012.
Mortgage applications fall again: The Mortgage Bankers Association says mortgage applications, which include new and refinanced loans, declined nearly 16 percent in the week ended June 12.
FedEx posts bigger loss with a gloomy outlook: FedEx, the nation's second largest package shipper, lost more money in the last quarter, as consumers and businesses downsized shipments and the company took over $1 billion in one-time charges.
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