Economics

Australia loses one battle of the ashes HOW the dead are disposed of varies widely by country. Custom and religion limit the use of cremation in many places. It is forbidden in Islam and frowned upon by many Jews, but generally practised in Buddhism and Hinduism. Since the Catholic church lifted a ban on cremations [...]

The world’s rich are suffering too THE wealth of the world’s richest people fell by almost a fifth last year to $33 trillion, according to the World Wealth Report from Merrill Lynch and Capgemini. A rich person is defined as having at least $1m of assets besides his main home, its contents and collectable items. [...]

The unemployment rate in America reaches 9.5%, the highest in 26 years JUST when hopes were rising that the gloom may soon lift from the American economy, the government announced jobs figures on Thursday July 2nd that were much worse than expected. Employers cut 467,000 jobs in June, 100,000 more than the average of forecasters’ [...]

Iraq’s civilians are a little bit safer AMERICAN troops are pulling out of Iraq’s town and cities but will continue to provide support to Iraq’a army and security forces from military bases close by. Keeping Iraq’s civilians safe will remain a difficult task, particularly if insurgents, emboldened by the lower profile of American soldiers, attempt [...]

Health-care spending in rich countries AMERICA’S health-care system is the costliest in the world, gobbling up about 16% of the country’s economic output. Comparisons with other rich countries and within the United States show that its system is not only growing at an unsustainable pace, but also provides questionable value for money and dubious medical [...]

Banks with the biggest profits and losses last year THE balance sheets of many banks took a pounding last year. Royal Bank of Scotland, which received a government bail-out of $3 billion, posted the largest loss of $59.3 billion, according to an annual review of the world’s leading banks by The Banker magazine. Citigroup and [...]

How much people contribute to their own retirement income PENSIONS are another casualty of the recent global economic turmoil. Public-pension schemes are under pressure as output falls and unemployment rises. Private funds in OECD countries, meanwhile, lost $5.4 trillion last year, or 23% of their value. Countries differ in the importance of private pensions for [...]

How food prices have changed in different countries CHANGES in global food prices are affecting some countries much more than others. Despite a big fall from peaks in 2008, food-price inflation remains high in places such as Kenya and Russia. In China, however, falling international commodity prices have been passed on to consumers faster. The [...]

Drink-driving limits around the world LAWS against drink-driving have been getting tougher recently in many countries and more places are making use of them. Over 170 countries now impose drink-driving limits, according to a new report by the World Health Organisation, although the amount of alcohol allowed varies considerably. Only 88 countries have a legal [...]

How indebted rich countries will be in 2014 THE government debt of the ten richest countries attending the G20 summits will hit 114% of GDP by 2014, up from 78% in 2007, according to a new IMF study. To measure how much fiscal pain would be required to bring gross debt ratios to a sustainable [...]