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And the ratings agency Standard&Poor's is warning the odds1 of the United States slipping back into recession are on the rise. It says there is a 25 per cent chance of another recession in the United States. In February, it said the odds of a double-dip recession were around 20 per cent.
Standard&Poor's says the European debt crisis has added greater uncertainty2 to America's economic prospects3 next year. The US economy grew by an annual rate of 1.5 (one and a half) per cent in the second quarter. Now, that's a sharp slowdown from last year.
Unions are demanding more details from Telstra about its plan to shed hundreds of jobs across Australia and send some to the Philippines. The company is axing 650 jobs to streamline4 its customer service operations.
Jobs will be cut in call centres in regional New South Wales and Queensland. Hundreds of full-time5 and agency jobs will also go from Melbourne and Sydney.
Well, let's take a look at the markets.
And the Dow has closed down 68 points. The Nasdaq dropped 9. The S&P 500 fell 5. While in London, the FTSE rose 33 points.
Checking commodity prices.
West Texas Crude is trading at 96 US dollars and 53 cents a barrel. Tapis Crude is trading at 119 US dollars and 53 cents a barrel. While gold is at 1637 US dollars an ounce.
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1 odds | |
n.让步,机率,可能性,比率;胜败优劣之别 | |
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2 uncertainty | |
n.易变,靠不住,不确知,不确定的事物 | |
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3 prospects | |
n.希望,前途(恒为复数) | |
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4 streamline | |
vt.使成流线型;使简化;使现代化 | |
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5 full-time | |
adj.满工作日的或工作周的,全时间的 | |
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6 sterling | |
adj.英币的(纯粹的,货真价实的);n.英国货币(英镑) | |
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