Australia Employment Soars; Currency Up Australia’s employment soared 46k in June, ramping up pressure on the central bank to resume policy tightening, and pushing the local currency up. (WSJ)

Banks Often Extend Sour Property Loans Banks are restructuring many unpaid loans on commercial real estate rather than foreclose, a practice creating uncertainties about the health of both the commercial-property market and some banks. (WSJ)

IMF: Risks Slowing Recovery The slow-motion global recovery is losing steam, with growth over the next 18 months widely expected to fall below the pace of the first half of 2010. (WSJ)

IMF: China’s 2010 GDP to grow 10.5% The International Monetary Fund lifted China’s GDP growth forecast for 2010 to 10.5 percent from earlier projection of 10 percent, the IMF said in a latest world economic outlook released on Thursday. IMF raises world growth forecast to 4.5% (CD)

Japan Data Show Fragile Economy Fresh signs that Japan’s economic recovery may be losing momentum emerged Thursday, as gauge of future business investment fell. (WSJ)

Arthur Laffer: Unemployment Benefits Aren’t Stimulus Let’s not reduce the incentive to find work. A federal tax holiday is a better way to cut the high jobless rate. (WSJ)

County Employment Data Show Stronger Late-2009 Job Growth The recovery may be less jobless than first reported. The Labor Department’s county employment and wages report for the fourth quarter — a census of employment at the county level that was released Wednesday — shows that the job environment was stronger in the last three months of the year than the current payroll data indicate, say economists at UBS. (WSJ)

As cuts bite, Greece tested by dissent Fresh strikes Thursday and public hostility are testing the nation’s ability to make it out of its debt crisis (G&M)


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