Obama proposes debt ceiling to be increased by $1.2 trillion

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Source: CNN Money

President Obama is going to call Congress to enlarge the debt cap by $1.2 trillion. According to Treasury official, Obama claimed the additional debt would help the country to survive most of the 2012. This request would enlarge US debt limit from $15.2 trillion to $16.4 trillion. Obama still must submit the new proposal to Congress. It can be rejected if both Senate and House vote against it.

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Wed, 28 Dec 2011 09:10:59 GMT

UK's unemployment to rise next year

UK's unemployment is expected to rise next year to 2.85m and reach a record in 2013, according to CIPD. The private businesses will not be able to provide enough jobs to offset 120,000 unemployed from the public sector next year. However, the labour market started to show signs of stability as government's reforms have had a positive impact. The number of jobless claims was falling

Wed, 28 Dec 2011 08:36:37 GMT

Japan's leading party offers to increase sales tax

Japan's leading party suggested to increase twofold the sales tax by 2015. Democratic Party of Japan proposes to increase the sales tax from 5% to 8% in October 2013 and further to 10% in April 2015, said lawmakers Motoyuki Odachi and Takeshi Miyazaki. After party's meeting 9 members quit. Japan is struggling to recover from March earthquake while suffering from drop in exports. Proposed increase

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