Hard Times Again Push Irish Youth Abroad

Even healthier countries now feeling pinch

(NEWSER) - Financial crises in Greece, Ireland, and Portugal have stoked fears for Italy, Belgium, and the more robust Germany as Europe struggles to find a solution, the New York Times reports. Worry that Germany may have to pay the brunt of bailout costs have prompted the sale of its debt; investor concerns are marked by a euro rapidly sinking against the dollar. More»

Voters don't reward economic competence after crisis: Krugman

(NEWSER) - The Bush administration has taken much of the blame for the American recession, but a "huge housing bubble and a financial crisis" were always on the cards, as Paul Krugman writes for the New York Times. Writing from London, where voters gave Gordon Brown a pummeling in Thursday's elections, Krugman observes that Britain shows what might have happened if the 2000 presidential election had gone the other way. More»

(NEWSER) - The new class of temporary workers created by European labor reform is suffering most in the current wave of job cuts, the Wall Street Journal reports, testing the new policies amid the threat of backlash. Short-term employees—easier and cheaper to fire than permanent ones—also get fewer unemployment benefits, widening the gap between the haves and the mostly young and immigrant have-nots. More»

Home-improvement giant having rough time in slow housing market

(AP) - Home Depot says it's cutting 7,000 jobs and closing its smaller Expo chain as the recession continues to batter the nation's housing market. The nation's largest home-improvement retailer says the cuts announced this morning will affect about 2% of its workforce. Its core Home Depot stores won't be affected. More»

Global downturn? They're lovin' it

(NEWSER) - A rare beneficiary of the financial crisis, McDonald’s says it will build 240 new European locations and create 12,000 jobs, the Financial Times reports. The firm’s biggest expansion in 5 years will extend mainly to Spain, France, Italy, Russia, and Poland. “We’re certainly not slowing down,” said the president of McDonald’s Europe. More»