A jump in unemployment sent stocks plunging today as investors feared Americans will not deviate from their tightened budgets.

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The US unemployment rate spiked to 7.2% in December, adding to the economic gloom that faces incoming President Barack Obama.

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Demands for Government to slash a fifth of public sector jobs were rubbished by unions which tonight claimed the move would plunge the economy in to a deeper recession.

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Aircraft maintenance firm SR Technics has confirmed that it has lost one of its largest customers.

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Northern Rock’s chief financial officer Ann Godbehere today announced her decision to step down as the bank approached its year anniversary under public ownership.

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The ISEQ index of Irish shares was up 18 points to 2,660.68 by 11am.

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Manufacturing’s torment deepened in the UK after official figures showed output in the sector slumped 2.9% in November 08.

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Troubled South Korean car maker Ssangyong Motor said today it had applied for court receivership.

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Masked youths clashed with police in central Athens Friday in the first major test of the Greek government’s vow to crack down on violent protesters after a month of nationwide riots.

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One of the heaviest snowfalls in decades closed Madrid airport and brought traffic in the Spanish capital to a standstill on Friday.

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