Coming up in the global economy this week are readings on inflation in the U.K. and growth in the euro region, the third Communist Party plenary session in China and retail sales in Brazil. In the U.S., Janet Yellen’s confirmation hearing in her bid to become the next chairman of the Federal Reserve will take center stage.
Prime Minister David Cameron’s High Speed 2 rail plan for the U.K. drew further unease over costs from the opposition Labour Party, as a minister pledged the bill for the infrastructure project won’t increase.
Six months ago, when 1,127 Bangladeshi workers were killed in the collapse of a high-rise warren of garment factories, international outcry led to pledges by western retailers and the government to set up a large-scale inspection regime and a new wage system.
Italian Prime Minister Enrico Letta won confidence votes in parliament today after Silvio Berlusconi backtracked on a pledge to bring down the five-month-old government as his party showed signs of deserting him.
Italy’s government is on the verge of collapse and two of its most senior executives have lost the confidence of shareholders. Thanks to Mario Draghi’s promises, bond investors see the turmoil as more of a blip than a crisis.
Vangelis Skourtis is hawking perfume to shoppers on Ermou Street, within sight of the Greek Parliament in central Athens. As Germans prepare to vote this weekend, he’s trying to raise enough money for a boat ticket back to his island of Rhodes.
The official word at the White House is there’s no telling whether President Barack Obama and Iranian President Hassan Rohani might end up chatting in a hallway or meeting room at next week’s United Nations gathering in New York.
Syria turned in an initial inventory of its chemical weapons yesterday, in advance of U.S.- Russian talks in the coming week on United Nations action to compel the Arab nation to surrender its toxic arsenal.