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Economy

Story #3: The Eurozone crisis and the Fiscal Cliff

The European debt crisis and the looming “fiscal cliff” that could plunge the U.S. back into a recession were two of the major doom-and-gloom economic stories that shook the financial world in 2012. 1

Eurozone Crisis and the Fiscal Cliff in 2012

Economy Quiz

Test your knowledge on some of this year's biggest economy stories, from the fiscal cliff to Apple.
Obama welcomes Boehner to White House to discuss 'fiscal cliff'

Administration officials say President Barack Obama and House Speaker John Boehner met Sunday at the White House to discuss the ongoing negotiations over the impeding "fiscal cliff."
Mark Carney named Bank of England governor

Canada’s top banker Mark Carney has been named the Bank of England’s new governor, becoming the first foreigner to lead the institution in its 318-year history. 18
Apple's softer side emerges under CEO Tim Cook

Cook didn't say which computers would be made in the U.S., or where the company might locate facilities. But bringing assembly-line jobs back to the U.S. lights a symbolic beacon of hope for working-class Americans who worry that the global economy has no use for them.
Capitalism, socialism join forces as 'words of the year'

Thanks to the U.S. election, socialism and capitalism are forever wed as Merriam-Webster's most looked-up words of 2012.
Eurozone unemployment hits another record high

Another month, another record unemployment rate for the economy of the 17 European Union countries that use the euro.
National debt to hit $600B tomorrow, taxpayers federation says

The country is about to pass a red ink milestone that the Canadian Taxpayers Federation says is completely unnecessary. 1
Tighter mortgage rules now in effect, but do Canadians know?

Tighter mortgage rules come into effect today, but if the results of a new poll are any indication, almost half of Canadians were not aware the system was changing. 4
Embittered Facebook investors ponder next move

To say that Facebook's debut as a public company was bungled is something like saying Facebook is a website you might have heard of. The response from small-time investors has been equal parts frustration, confusion and bitterness.
How will JPMorgan's loss affect U.S. banking rules?

The $2 billion trading loss at JPMorgan Chase has renewed calls for stricter oversight of Wall Street banks. Two years after Congress passed an overhaul of financial rules, many of those changes have yet to be finalized.
Ottawa approves $15B Chinese takeover of Nexen

The federal government has approved two multi-billion-dollar takeovers of Canadian oil and gas companies by state-owned Asian enterprises, but Prime Minister Stephen Harper has made it clear that such deals will only be allowed under “exceptional circumstances” in the future. 4