Iberia cancels 118 flights due to pilot strike

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Source: Marketwatch

Iberia announced it cancelled 118 flights scheduled today due to pilot strike. Pilots are protesting to launch of new low cost unit as setting up such unit contradicts to Iberia collective agreement. The company rejects the claim while pilots say they will continue strike until the consensus is reached with Iberia management.

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Thu, 29 Dec 2011 15:06:40 GMT

South Korean industrial output sinks on dismal domestic demand

South Korean factory output decreased last month on the weaker demand in the country. The output declined by 0.4% in November on a monthly basis, beating the expectations of analysts. Spending on construction and equipment eyed the biggest decrease. Experts claim the global downturn and high debts of the households severely impacted many businesses. The Bank of Korea's manufacturer's outlook index decreased from 83 this

Thu, 29 Dec 2011 15:04:49 GMT

German inflation slows down amid debt crisis

Germany's inflation rate decreased in December as European region's sovereign debt turmoil is hurting economic expansion. The inflation rate fell from 2.8% in November to 2.4% in current month. The reading matches economists' expectations. Euro area countries are facing severe spending cuts to reduce debt which hampers growth and as a result, the inflation, said Marina Luetje, Dekabank's economist.

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