- Abu Dhabi Will Aid Debt-Fraught Dubai 'Case by Case'
- Banks With The Biggest Exposure to The UAE
- Dubai's Debt Woes Signal New Era for Creditors
- Next Week: Cash In Now Or Wait For A Santa Rally?
- Dubai Stock Selloff May Bring Buying Opportunity
- Longer Lines, Fuller Carts This Black Friday
- Big US Banks May Be Forced to Raise Capital: Bove
- Bank of America Amends Pay for Senior Executives
- Tiger Woods Out of Hospital After Accident
- U.S. Stocks Fall on Dubai Worries
- Black Friday at Best Buy
- Strategists on Dubai: Avoid 'Rash Moves' Now
- Longer Lines, Fuller Carts This Black Friday
- Dubai Stock Market Fear Has 'Legs': Dennis Gartman
- Obama's Emission Reduction Pledge Paints Future for Autos
- Is Super Bowl Halftime Act Too Old?
- Surprising Options Trades in TiVo Shares
- EA Sports Hopes to Pump Up Sales Through Pop-Up Locations
Text Size 
The recovery of the global economy is often summarized down to a single letter of the alphabet.
But for Paul Donovan, managing director and deputy head of global economics at UBS, the recovery is shaped more like a brand symbol.
“We’re ending up with something a little more akin to the Nike swoosh," said Donovan. "You come down pretty abruptly and we are definitely improving. Absolutely, no question. But it’s going to be a fairly slow recovery. There are a lot of headwinds we’ve got to battle against.”
Appearing on CNBC on Monday, Donovan emphasized that the recovery will be a slow grind, especially in Europe and the U.S.
He said the markets were in for a lower trend environment this year and though there may be some growth next year, it will not be enough to impact the unemployment rate.
Donovan said the unemployment rate for the U.S. at the end of next year will likely be 9.5%, compared to a normal rate of 5.25%.
“Now that’s a lot of unemployment. There’s a lot of spare capacity in the labor market”
- These four sectors will be the next to lead the market.
- Zhu Zhu Pets are this year's must-have toy, fetching $40 or more on eBay.
- From the why-didn’t-I-think-of-that file, we present Jason Sadler, a man whose job is wearing T-shirts.
- It may be the most unusual guide to business you'll read.
- Shopping for a gadget hound? The choices can be baffling. Here are a few that should be a hit.
- "The Who" will be the halftime act for Super Bowl XLIV on Feb. 7 in Miami. Is the NFL behind the times?
Data is a real-time snapshot *Data is delayed at least 15 minutes