(CNN) – A total of 197 million people were without jobs in 2012, with youth being particularly hard hit, and those unemployment figures will increase again this year, according to an International Labor Organization report released Monday.
The bulk of the 4 million newly unemployed in 2012 came from developing economies in East Asia, South Asia and Sub-Saharan Africa, according to the Global Employment Trends 2013 report.
The International Labor Organization, which is a United Nations agency responsible for overseeing international labor standards, made bleak projections of another increase in unemployment worldwide by 5.1 million in 2013 - which would push the total to 202 million.
Editor's note: CNN is at the World Economic Forum in Davos. Follow CNN's coverage here.
Davos (CNN ) - "The future's bright ... the future's Orange" was the tag line for mobile phone company Orange's UK advertising campaign in the 90s. It was annoying but it caught on, and was regularly co-opted in conversation whenever someone was looking on the dark side of life. FULL POST
London (CNN) - Remember Bowie Bonds?
I barely remembered that David Bowie was one of, if not the first, celebrity to securitize his intellectual property to raise cash, through bonds.
In Bowie’s case, he and Prudential Insurance raised funds (Wikipedia says $55 million) in 1997, giving investors interest based on revenue from his catalogue from the 1960s through 2000.
Did it work? It’s hard to say given the story seemed to fizzle out, though it’s fair to say other names have used bonds in a similar manner since then. FULL POST
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