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Thousands rally against Portugal’s austerity plans

LISBON — Tens of thousands of people rallied in Portugal Saturday against the government’s austerity measures, protest organisers said, amid projections that the economic situation was far worse than expected. Government and private sector workers demonstrated in Lisbon and Porto, following a call by the country’s largest trade union federation…

E.U. to release results of stress tests on banks

The European Union this week publishes results of stress tests on Europe’s embattled banking sector amid a dangerous phase in the eurozone debt crisis that threatens to engulf Italy and Spain. The European Banking Authority, the EU’s London-based regulator for the financial sector, has carried out assessments on 91 banks…

U.S. has ‘long way to go’ after poor jobs report: Obama

President Barack Obama said Friday the US economy has “a long way to go” towards a strong recovery, after the government released weak jobs figures showing unemployment crept up to 9.2 percent. Obama said the poor jobs report “confirms what most Americans already know,” that the recovery from what he…

U.N. study: $40 billion annual investment needed for global carbon reduction

NAIROBI (AFP) – Investing $40 billion annually in the forest sector is needed for the world to transition into a low carbon, resource-efficient green economy, according to a UN report released here Sunday. The additional investment “could halve deforestation rates by 2030, increase rates of tree planting by around 140…

World must invest $40 billion a year to save forests, says United Nations

NAIROBI – Investing $40 billion annually in the forest sector is needed for the world to transition into a low carbon, resource-efficient green economy, according to a UN report released here Sunday. The additional investment “could halve deforestation rates by 2030, increase rates of tree planting by around 140 per…

Judge voids controversial Wisconsin anti-union law

MADISON, Wisconsin (Reuters) – A Wisconsin judge on Thursday voided a controversial Republican-backed law restricting the collective bargaining rights of public sector unions. Dane County Judge Maryann Sumi said Republican lawmakers violated the state’s open meetings law in rushing the legislation through during massive protests at the state Capitol earlier…

Al Qaeda was plotting rail attack for tenth anniversary of 9/11

WASHINGTON (Reuters) – Al Qaeda considered attacking the U.S. rail sector on the 10th anniversary of the September 11 attacks, U.S. government officials said on Thursday in describing intelligence from Osama bin Laden’s hide-out in Pakistan. They said some evidence was found indicating the al Qaeda leader or his associates…

Private sector adds 179,000 jobs in April: ADP

NEW YORK (Reuters) – Private employers added 179,000 jobs in April, coming in shy of economists’ expectations, a report by a payrolls processor showed on Wednesday. Economists surveyed by Reuters had forecast the ADP Employer Services report would show a gain of 198,000 jobs. March private payrolls were revised up to an increase…

US unions vow to fight Republican attacks

DETROIT, Michigan – Embattled US union leaders met here Thursday and cast themselves as the defenders of the middle class, vowing to fight Republican attacks on teachers and government workers. “There’s a new generation of ideologues — I don’t even want to call them Republicans — out there that want…

GOP offers bill cutting pensions for new federal employees

WASHINGTON – New legislation introduced in the Senate would slash pensions for all federal employees hired starting 2013, invoking the argument that benefits for government workers are too generous and are a large contributor to budget deficits. The “Public-Private Employee Retirement Parity Act,” offered Thursday by Sen. Richard Burr (R-NC)…

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