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Recession fears hit stock markets

London :: United Kingdom | 12 minutes ago | Business News

Posted by thapaprajwal

World shares have fallen amid concerns that the world economy will enter a protracted downturn. The US Dow Jones index Industrial Average fell 2.3% in early trade while the wider S&P 500 Index shed 3%. London's FTSE 100, the Paris-based...

15 news stories / 6 blog posts / 1 image / 11 videos / 0 voices

Crude oil breaks bottom line of $50/barrel.

Ahmedabad :: India | 21 minutes ago | Business News

Posted by aarana

The latest fall means oil is the cheapest it has been for over three years, and defies predictions earlier this year from some leading producers who said it could peak at $200 a barrel. Oil prices fell below $50 a...

16 news stories / 8 blog posts / 17 images / 25 videos / 0 voices

Ford Might Be the Winner if the Auto Bailout Fails

Arizona City :: AZ :: USA | about 8 hours ago | Business News

Posted by arjun

Ford CEO Alan Mulally could be forgiven if he thought, The heck with this — don't give us any money, as he and fellow auto bosses Rick Wagoner and Robert Nardelli took a beating from unfriendly Senators at a hearing...

29 news stories / 5 blog posts / 20 images / 12 videos / 0 voices

Stage Stores expects 4Q decline amid downturn

Shanghai :: China | about 4 hours ago | Business News

Source: International Business Times

The company said it expects profit between 64 cents and 70 cents per share for the quarter. In last year's fourth quarter, the company reported profit of 78 cents per share. Analysts polled by Thomson Reuters expect profit of 66...

9 news stories / 6 blog posts / 23 images / 3 videos / 0 voices

'Russia will not face another collapse'

Moscow :: Russia | about 14 hours ago | Business News

Source: Press TV

In an address to a convention of his United Russia party, Russian Prime Minister Vladimir Putin said Russia has built up significant financial reserves which give the country 'a wide margin of maneuver'. They allow us to preserve macroecomic stability...

15 news stories / 10 blog posts / 30 images / 30 videos / 0 voices

IMF approves $A3.3b loan for Iceland

Reykjavík :: Iceland | about 16 hours ago | Business News

Source: Sydney Morning Herald

The two-year loan, accompanied by quarterly reviews, was designed "to support the country's program to restore confidence and stabilise the economy," the IMF said in a statement. It was the first time a country in Western Europe had secured a...

16 news stories / 8 blog posts / 20 images / 14 videos / 0 voices

Saudi prince to boost stake in Citigroup

Riyadh :: Saudi Arabia | about 3 hours ago | Business News

Source: CNN

Citigroup's largest individual shareholder, Saudi Prince Alwaleed Bin Talal, said Thursday he planned to increase his stake in Citigroup back to 5%, even as shares of the firm have plummeted in recent weeks. The move by Alwaleed, a long-time investor...

6 news stories / 6 blog posts / 20 images / 13 videos / 0 voices

GMAC seeks federal bailout funds

New York City :: NY :: USA | about 4 hours ago | Business News

Source: International Herald Tribune

Thursday it has filed to become a bank holding company, joining the growing list of lenders making such a move in a bid to secure U.S...Troubled Asset Relief Program is conditional on its becoming a bank. The company, which had previously...

6 news stories / 10 blog posts / 12 images / 2 videos / 0 voices

Rolls-Royce plans 2,000 job cuts

Derby :: United Kingdom | about 9 hours ago | Business News

Source: BBC

The firm also said it was in talks about a planned cut of 140 jobs at its Assembly and Test facility in Derby. The company currently employs about 39,000 people worldwide, of whom about 60% work in the UK. Rolls-Royce...

10 news stories / 4 blog posts / 26 images / 19 videos / 0 voices

RBS boss apologises over losses

London :: United Kingdom | 17 minutes ago | Business News

Posted by thapaprajwal

Royal Bank of Scotland (RBS) chairman, Sir Tom McKillop, has said he is "profoundly sorry" for the bank's financial difficulties. Shareholders are voting shortly to accept a £20bn ($29.9bn) government bail-out for RBS. Sir Tom said he was "sorry" about...

9 news stories / 1 blog post / 6 images / 3 videos / 0 voices