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Russia Rocked by Financial Crisis 2008-12-07 03:58:48 Russia Rocked by FinancialCrisis
As companies slash jobs and the ruble looks ready for a crash, Russians are trying to keep cheer by holding “anti-crisis” parties at fancy bars.
By Jason Bush
The streets and shops are being spruced up with pine trees and tinsel. But for many Russian families, there will be precious little to celebrate [...] Read more:Russia
Global Crisis Hits Shipping Industry Hard 2008-12-07 03:56:13 Global Crisis
Hits Shipping
Industry Hard
Shipping benefits from globalization more than almost any other sector. But this has also made it more vulnerable to the global economic crisis. Freight and charter rates have plunged, jobs at shipping companies are being cut and many ships are being parked for months at a time.
By Thomas Schulz
The anxiety [...] Read more:Global
Deutsche Boerse Considering NYSE Offer After Worst Annual Drop 2008-12-07 03:48:25 Deutsche Boerse Considering NYSE Offer
After Worst Annual
Drop
Deutsche Boerse AG, faced with the worst annual decline in its stock since it went public seven years ago, is exploring a merger offer for NYSE Euronext, operator of the world’s largest stock market.
By Nandini Sukumar
Europe’s biggest exchange commissioned an internal study on the feasibility [...] Read more:Deutsche
U.S. Job Losses Signal Recession Will Be Long, Deep 2008-12-07 03:46:12 U.S. Job Losses
Signal Recession
Will Be Long, Deep
The U.S. economy may be headed for its deepest and longest recession since World War II as mounting job losses take their toll on consumer confidence and spending.
By Rich Miller and Bob Willis
Employers cut payrolls last month at the fastest pace in 34 years as [...]
Argentina tries gov’t car loan plan 2008-12-07 03:38:53 Argentina tries
gov’t car loan plan
Consumers to get low interest car loans as carmakers agree to produce low-cost models.
Argentina’s auto industry will get a 3.1 billion peso ($900 million) boost with cut-rate loans for first-time new car buyers, the government said Saturday.
Production Minister Deborah Giorgi’s announcement detailed a key part of a broader economic stimulus [. Read more:Argentina
Accord on U.S. help for automakers 2008-12-07 03:36:48 Accord on U.S. help for automakers
GM and Chrysler are close to getting billions in stopgap aid to stay out of bankruptcy. Pelosi changes mind on key sticking point.
By Chris Isidore, CNNMoney.com senior writer
Congressional Democrats and the Bush White House have reached an agreement in principle on providing stopgap support for the U.S. auto industry, according [...]
Stocks: More pain, more gains? 2008-12-07 03:34:30 Stocks: More pain, more gains
?
Stocks rallied toward the end of last week despite abysmal news on the economy. This week brings readings on housing, consumer spending and the trade gap.
The worst monthly jobs report in 34 years failed to send stocks lower late last week, begging the question of whether the market has finally found [...] Read more:Stocks
Obama reveals job-creation plan 2008-12-07 03:32:05 Obama reveals job-creation plan
Proposal centers on repairing infrastructure and boosting technology.
President-elect Barack Obama on Saturday revealed five parts of his plan to save or create 2.5 million jobs by 2011, and said he will push for immediate action by Congress when he takes office in January.
Obama wants to make public buildings more energy-efficient; repair roads [...] Read more:Obama
ECB’s Trichet Says Euro-Region Economy Will Contract 2008-12-04 13:02:55 ECB’s Trichet Says Euro-Region Economy Will Contract
European Central Bank President Jean- Claude Trichet said the euro region’s economy will shrink next year for the first time since 1993 after the bank delivered the biggest interest rate cut in its 10-year history.
“Global and euro-area demand are likely to be dampened for a protracted period of [...]
Italian Stocks: Banco Popolare, Enel, Mediaset, Pininfarina 2008-12-04 12:58:09 Italian Stocks
: Banco Popolare, Enel, Mediaset, Pininfarina
Italy’s benchmark S&P/MIB Index fell for the first time in three days, dropping 218, or 1.1 percent, to 18,911. Futures expiring in June fell 356, or 1.9 percent, to 18,855.
The following stocks were among the most active on the Italian market today. Share symbols are in parentheses.
Ansaldo STS [...] Read more:Italian
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