As the sovereign debt crisis is hits Europe and the idea of a double dip recession is starting to spread all over the world, G20 labor ministers gathered in Paris on Tuesday said job creation, particularly by small enterprises, was crucial in overcoming the financial crisis and warned that austerity measures needed to be balanced with the creation of jobs.
Amid all the turmoil in Europe, Germany is often viewed as something of a "good student," but it still has its challenges, the nation's Labor Minister Ursula Van Der Leyen said.
Even the Gulf countries were not spared by the European and U.S. debt crisis. With unemployment figures estimated as high as 12 percent, the United Arab Emirates has lots of gaps to fill, Saqr Ghobash, the minister of labor for the UAE, told CNBC.com Tuesday.
Registration for the new .xxx Internet domain name kicked off on Wednesday, starting with a 50-day period during which businesses both inside and outside the adult entertainment industry can register for a .xxx domain or exclude their name from it to protect their reputation.
Pimco's manager in charge of the world's largest bond fund, Bill Gross, may have made a mistake when betting against US bond prices earlier this year, but the economy has deteriorated faster than anyone had appreciated, analysts told CNBC Tuesday.
French President Nicolas Sarkozy is due to meet with Prime Minister Francois Fillon, Finance Minister Francois Baroin and Budget Minister Valerie Pecresse on Wednesday morning to decide where to slash the national budget.
After the Dow Jones fell by 500 points on Thursday, European indices also faced a sell-off at Friday's open.