Econ 101: August 24, 2012

Welcome to ThinkProgress Economy’s morning link roundup. This is what we’re reading. Have you seen any interesting news? Let us know in the comments section. You can also follow ThinkProgress Economy on Twitter.

  • European manufacturing continues to contract, pushing the Euro Zone nearer another recession. [CNN Money]
  • New home sales rose 3.6 percent in July, matching a two-year high. [Los Angeles Times]
  • After their first attempt failed, regulators are looking at new plans to rein in the mutual fund market. [New York Times]
  • Nasdaq’s proposed $62 million compensation plan over fallout from its handling of the Facebook IPO is “inadequate to address [its] unprecedented failures,” one firm says. [Reuters]
  • The United Kingdom’s recession isn’t as bad as previously thought, according to government data released this week. [Wall Street Journal]
  • Foxconn, a major Chinese Apple supplier, has raised salaries and instituted other reforms in an effort to improve its labor practices. [Bloomberg]
  • German Prime Minister Angela Merkel will meet with Greek leader Antonio Samaras today to discuss Greece’s financial reforms and the potential for further aid. [Bloomberg]