Business, Economics and Jobs

Macro chatter: Spain's bird and Germany's white flag


Protesters with paper hats that read "enough" shout slogan at Sol Square camp on May 20, 2011 in Madrid, Spain.


David Ramos

Need to know:
Spanish bond yields flipped off the world
and spiked to new record Tuesday.

Yields have been hovering above 7 percent despite a $125 billion plan to rescue the nation’s banks and there doesn’t seem to be any relief in sight. 

Want to know:
Chinese home prices are still falling
as developers are increasingly offering deals to lure buyers.

Home prices in China have been sliding for eight consecutive months and fell in a record 54 of 70 cities tracked by the government in May. 

Happening today:
The US Labor Department will release one of its most interesting data sets: a look at job openings across the country.

The report includes an update on the number of job seekers vying for each open position.  

Dull but important:
The G20 may be in relaxing Los Cabos but its stressing over Europe.

The G20 is scurrying to create a single bank regulator to police its financial institution and guarantee bank deposits.

Reuters said the approach aims to break the cycle of indebted governments bailout out broke financial institutions only to go further into debt themselves. The news agency said even Germany — which hasn’t wanted to chip in for bank rescues outside its border — seems to be warming to the plan. 

Just because:
You may not be making any more money, but the high-flying executive on the other side of town still is.

Corporate CEOs are continuing to get richer despite shareholder uprisings against lavish pay packages, The New York Times reported. Median pay for the 200 highest-earning American CEOs stood at $14.5 million in 2011 as CEO salaries grew by 5 percent.

It’s a smaller raise than they got last year, but it’s still probably a bigger bump than you got.

Strange but true:
Lying doesn’t pay, at least not when it comes to speeding tickets.

Confessing is actually a better approach if you’d like to walk away with a warning instead of a hefty fine, USA TODAY reported.