China surpasses US as world's largest economy based on key measure — by FT reported citing IMF data.

China has surpassed the US in terms of GDP based on purchasing power parity (PPP), becoming the largest in the world by this measure, International Mo gazine.

On the purchasing power basis, China isovertaking the US right about now and becoming the world’s biggest economy, according to the forecast.

On the purchasing power basis, China is overtaking the US right about now and becoming the world’s biggest economy, according to the forecast. 

Read full report:China surpasses US as world's largest economy based on key measure — RT Business

France: Outlook bleak as Hollande hails 2013 'battle for jobs' - by Ben McPartland

French President François Hollande has hailed 2013 as the year of the "great battle for jobs". But figures released Thursday show a rise in the jobless rate for the nineteenth consecutive month – and the forecast is for worse to come.

France's faltering economy shed a further 30,000 jobs in November, according to new figures released Thursday, pushing the unemployment rate to its highest level in almost 15 years.

The alarming data, although expected, is another blow to the country’s Socialist government and its president, who called earlier in the day for a collective “mobilisation” to deal with the ongoing employment crisis.

With France’s unemployment rate crashing through the symbolic 10% mark this year, the president could offer no seasonal cheer when he made a surprise visit to Europe's largest wholesale market in Rungis, south of Paris.

“During this festive season I have to tell the French that it must be all hands on deck in the battle against unemployment,” said the president, who decided not to take any Christmas holidays following criticism in the French media when he took time off in August . “My goal is that unemployment, which has been rising for nearly two years now, begins to decline,” Hollande said, though admitting this may not happen until the end of 2013.

Read more: Outlook bleak as Hollande hails 2013 'battle for jobs' - FRANCE - FRANCE 24

EU more optimistic than IMF on an Irish market comeback -

The European Commission voiced optimism on Friday that Ireland was on track to return to the borrowing market, offering a brighter assessment than the IMF issued this week.

Irish authorities have made progress in fixing the nation's wrecked finances, successfully completing the recapitalization of the banking sector while the economy is expected to return to growth this year, the commission said.

"Usually we are very prudent in our assessments... In this case we are particularly optimistic," Amadeu Altafaj, spokesman for EU economic affairs commissioner Olli Rehn, told a news briefing.

EU more optimistic than IMF on an Irish market comeback - Economy - Business - Ahram Online