Unemployment in Spain is a record high

The unemployment rate in Spain has shot up to 26.02 per cent, with nearly six million people out of work. The National Statistics Institute said on Thursday the rate rose by one per cent in the last quarter of 2012 from the third quarter. It said 691,700 more people lost their jobs in 2012. The … [Read the full story]

Rangers players accept 75% wage cut

Rangers players have accepted a 75 per cent cut in wages to prevent the squad being decimated by up to 15 redundancies. At one stage the club’s administrators  threatened to axe the club’s top five earners, plus 10 others, as they tried to reduce monthly outgoings by $2 million. It would have left manager Ally … [Read the full story]

Riots in Spain over new government mandate

Spain’s new conservative government approved sweeping Labour market reforms as part of a drive to revive a sick economy and solve Europe’s worst unemployment nightmare…a jobless rate of nearly 23 per cent. The plan is to encourage companies to hire more people by cutting government mandated severence packages and offering tax breaks for taking on … [Read the full story]