• UN calls for 'Global Green New Deal' to boost world economy

      UN calls for 'Global Green New Deal' to boost world economy

      The world must dramatically rethink its economic model in order to tackle growing environmental stress, inequality and development challenges, the UN said Wednesday, calling for a "Global Green New Deal". In a fresh report, the UN trade, investment and development agency (UNCTAD) called for countries to join forces and enable trillions of dollars in public sector investments to help reboot the global economy and counter climate change.

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    • Argentina returns to currency  controls as debt crisis spirals

      Argentina returns to currency controls as debt crisis spirals

      Restrictions on access to dollars took effect in Argentina on 2 Sept. as the government tries to control a rapid loss of foreign reserves and an accelerating devaluation of the currency. The measure says residents can’t buy more than $10,000 a month without permission from the Central Bank. Institutions need permission for lesser sums. It also says that dollars earned for exports should be brought into the company within five days of the time they are paid. Importers also need permission to make payments. It also bars people from buying dollars to pay domestic debts.

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    • Italy unemployment rate reaches 9.9% in July

      Italy unemployment rate reaches 9.9% in July

      Italy’s unemployment rate reached almost 9.9% in July after an upward revision to the previous month’s data, as some 18,000 jobs were lost, national statistics bureau ISTAT reported on Friday. That compares with the Eurozone average of 7.5% and is much higher than 3.4% in the Netherlands and 5% in Germany.

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    • Libra faces EU antitrust scrutiny

      Libra faces EU antitrust scrutiny

      Facebook's less than two-months-old Libra cryptocurrency project is being probed again, this time by European Union antitrust regulators. According to documents, seen by Bloomberg, the European Commission have begun conducting a preliminary investigation on "the potential anti-competitive behavior," related to the Libra Association.

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    • Eurozone second-quarter growth slows

      Eurozone second-quarter growth slows

      The eurozone’s GDP barely grew in the second quarter of 2019, data showed on Wednesday, as economies across the bloc lost steam and the largest, Germany, contracted thanks to a global slowdown driven by world trade conflicts and uncertainty over Brexit.

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    • UK economy posts worst quarter since 2012

      UK economy posts worst quarter since 2012

      The British economy has shrunk for the first time since late 2012, after official data Friday showed second-quarter gross domestic product (GDP) contracted by 0.2%, dragged down by a slump in manufacturing just as Prime Minister Boris Johnson prepares to leave the European Union with or without a divorce deal.

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