Economy/Labor

LONDON (AP) — British Prime Minister David Cameron recalled Parliament from its summer recess Tuesday and nearly tripled the number of police on the streets after three days of rioting in London blossomed into a full-blown political crisis. Cameron described the scenes of burning buildings and smashed windows in London and several other British cities…

A trader at the New York Stock Exchange last week. Europe and the US are hopelessly over-indebted. The crisis that started in the US real estate sector in 2007 has devastated state finances on both sides of the Atlantic and is threatening to wreck the euro and trigger a second global downturn. The world lacks…

Greece can’t solve a problem of too much debt by taking on even more. We will note, however, that by some measures, the United States is even more deeply in hock than Greece. Greece’s debt-to-GDP ratio is 143%. America’s is officially 97%. But the $14.3 trillion national debt, stacked up against a $14.7 trillion economy,…

With no solution to the US debt crisis in sight, the rest of the world is starting to get nervous. German commentators urge congressional leaders to get their act together. A US default would have catastrophic consequences, they warn. Both Moody’s and Standard & Poor’s are threatening to downgrade the country’s debt amid fears of…

Hundreds of thousands of British public sector workers went on strike Thursday to defend their pensions, causing widespread disruption to schools and state-run services. A third of English schools were closed and another third were affected, officials said, as up to 350,000 teachers, lecturers and education staff took action against plans to make them work…

ATHENS (Reuters) – Thousands of demonstrators began gathering in front of the Greek parliament Tuesday at the start of a two-day strike to protest against painful cuts demanded by international lenders as the price for more financial aid. With Greece teetering on the edge of bankruptcy, parliament is due to vote this week on a…