Euro leaders unite to tackle soaring youth unemployment rates

François Hollande makes impassioned plea for jobless ‘post-crisis’ generation that fears it will never workClick here for a graphic depicting youth unemployment in EuropeEuropean leaders warned on Tuesday that youth unemployment – which exceeds 50% in some countries – could lead to a continent-wide catastrophe and widespread social unrest aimed at member state governments.The French, […]
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Tata Steel loses £840m as demand drops

India’s Tata Steel has dropped into the red after wiping £1bn off the value of its European arm, largely due to the writedownIndia’s Tata Steel has plunged into the red with losses of £840m after wiping £1bn off the value of its European arm, which employs 18,500 people in Britain.The overall post-tax figure for the […]
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Derivatives trader: ‘Trading can take over your life – but only if you let it’ | Joris Luyendijk

A migrant derivatives trader working in London talks of how he trades on volatility to buy himself financial security• This monologue is part of a series in which people across the financial sector speak to Joris Luyendijk about their working livesHe describes himself as “a third-world migrant in his early 20s from near the equator”. […]
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Petrol price rigging inquiry contacts oil traders

Glencore and Vitol among those receiving ‘request for information’ as part of cross-border investigationGlencore and other big oil trading companies have been asked to provide information to the cross-border investigation into alleged petrol price rigging. There is no suggestion that these companies are being investigated.European commission officials have asked the trading houses to answer questions […]
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The reason France has gone into double-dip recession | Ann Pettifor

This isn’t a uniquely French problem – EU nations of various political hues are in trouble because of a fixation on austerityToday’s BBC headline fairly trumpets the news: “French economy returns to recession”. Funny how we Brits seem happy if our trans-Manche neighbours are doing a wee bit worse than we are. Especially if you […]
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Petrol price investigation into BP and Shell ‘serious and important’, says Nick Clegg

Deputy prime minister backs European commission in its action against alleged oil market manipulationNick Clegg urged BP and Shell to fully co-operate with the European commission which is investigating them for alleged oil price manipulation, saying the issue was “incredibly serious”.The deputy prime minister highlighted the fact that action was being taken by this particular […]
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