Germany's economic surge powered the European Union to a faster-than-expected growth rate of 1 per cent in the second quarter of this year, the EU's statistical office said Friday.

China overtook Japan as the world's second-largest economy in the second quarter, capping three decades of spectacular growth.

The United States on Tuesday began the difficult process of reforming its housing market, the collapse of which helped cause the worst financial crisis in eight decades.

Only a fleeting fear six years ago, worry of an economy-wide slide in prices has returned, slipping into economists' discussions and shading investment decisions.

General Motors chief executive Ed Whitacre in a surprising announcement Thursday said he will step down on September 1, after little more than eight months in the job.

Inflation in Greece rose in July to 5.5 percent, the highest in 13 years, the Greek Statistical Authority said Friday.

Hispanics are now the largest ethnic minority in the United States and during the past decade, U.S. Hispanic purchasing power has rapidly increased. This report takes an in depth look at how today's Hispanic Economy is transitioning into an economic power in the U.S. Click here for the executive summary and table of contents!

The number of Hispanic-owned businesses in the United States is expected to grow 41.8 percent in the next six years to 4.3 million, with total revenues surging 39 percent to more than $539 billion, according to new estimates by HispanTelligence. Spurred by growing entrepreneurial trends and affluence among the nation's largest minority population, the increase is expected to come at a robust rate of 8.5 and 8.7 percent, respectfully, over the next couple years.

Last June General Motors was staring into an abyss. Fast forward 12 months and the company has repaid around $8 billion of debt and just announced its first quarterly profit in almost three years. So yes there's been a recovery. But it's been a rollercoaster ride for GM shareholders and employees, and for scores of the company's Hispanic dealerships, which have experienced all the ups and downs of their corporate parent.

With the tough economic year of 2009 now safely in the rearview mirror, a clearer picture of the damage wrought by the recession is emerging.

Molina Healthcare has surpassed Brightstar as the No. 1 company on the HispanicBusiness 500 list.