Ireland’s unemployment rate hits 13-year high of 11.8 percent; welfare claims at record highDUBLIN — Ireland’s unemployment rate hit a 13-year high of 11.8 percent in May as a deepening recession pushed the welfare lines to record lengths, the Central Statistics Office reported Friday. Yale accused of turning blind eye when acquiring famous Van Gogh painting ‘The Night Cafe’NEW HAVEN, Conn. — Yale University’s acquisition of a Vincent Van Gogh painting that Russia once claimed as its own amounted to acceptance of stolen property and “art laundering,” a descendant of an earlier owner alleges. Venezuela’s Chavez tells private banks to work with government or face sanctionsCARACAS, Venezuela — President Hugo Chavez on Tuesday threatened to sanction private banks that fail to collaborate with his government’s regulations as it moves toward a socialist economy. US has nationalized companies before, mostly temporarily; Amtrak a surviving exampleWASHINGTON — The U.S. assumption of a controlling interest in General Motors Corp. isn’t the first time the government has nationalized a company or an industry. It has taken shares in banks, railways, steel mills, coal mines and foreclosed homes. Obama puts US in driver’s seat as GM enters bankruptcy, planning huge job and dealer cutsWASHINGTON — In a defining moment for American capitalism, President Barack Obama ushered General Motors Corp. into bankruptcy protection Monday and put the government behind the wheel of the company that once symbolized the nation’s economic muscle. Anglo Irish Bank loses euro3.8 billion in 6 months because of defaults on its loans to developersDUBLIN — Anglo Irish Bank Corp. reported a massive net loss Friday of euro3.8 billion ($5.3 billion) in just six months, citing widespread defaults in its loans to property developers. |
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