Ecomomic Crisis
Daily News and Updates
Sunday - November 30, 2008:
- Holiday sales get off to slow start
- Holiday Shopping in a Downturn Deals or Nothing at All
- OPEC ends Cairo meeting without new output cuts
- Poverty spreading in suburbs study
- Russian Central Bank allows ruble to weaken, raises key rate
Saturday - November 29, 2008:
- Asian economies stumble and U.S. faces retail test
- Coming up A huge pension bailout
- Europe Inflation Rate Drops Most in Almost 20 Years
- Japan’s Recession Deepens as Factory Output Slumps
- Shoppers seek deals, buy less on Black Friday
- 'The Engine of Democracy' Coalition to Send Workers From 50 States to Washington to Support Auto Bridge Loans
- Trillions down and still bailing
- U.K. November Retail Sales Index Matches 25-Year Low, CBI Says
Friday - November 28, 2008:
- CHINA Chinese leaders in panic over crisis and unemployment
- China downturn deepens, European rate cut sought
- Credit card rates, fees marching up
- Mexico wants to shrink size of coins, due to record metal prices
- Monroe auto supplier ceases operation
- Oil falls more than $1-bbl ahead of OPEC meeting
- New U.S. mortgage crisis looms
- Sales gridlock puts manufacturers in a state of panic
- Thousands of Woolworths staff face sack in Christmas week
- Two weeks to cut rates, card issuers told
Thursday - November 27, 2008:
- A Break for Consumers: Prices of Food Staples Cut 15-25 Percent
- Iceland Riots Precursor To U.S. Civil Unrest
- Rogers Says Dollar to Be `Devalued,’ Buys Commodities
- Americans' Food Stamp Use Nears All-Time High
- Europe announces 200bn euro plan
- Big Three fine-tune aid pitch
- China slashes rates, EU plots stimulus
- America Is
Too Big To Fail Broke
- Pelosi: Economic News Makes Clear President Must Drop Opposition to House-Passed Recovery Package
- Consumers cut spending
- Russian Professor Says U.S. Will Break Up After Economic Crisis
- Stocks on win streak amid more bad economic news
- Toyota Suffers First Credit Rating Cut in 10 Years Amid Slump
- Workers riot at Chinese toy factory
Wednesday - November 26, 2008:
- ASIA: The way out of the crisis is neither Left nor Right
- CHINA World Bank Chinese growth will fall to 1990 levels
- Cisco shares fall on 5-day U.S., Canada shutdown
- E-Commerce Shrinks for First Time, Research Firm Says
- FDIC adds 54 more banks to its 'problem list'
- For Retailers, 'Tis the Season to Be Nervous
- U_S_ launches support plan as contraction takes hold
- US economy shrinks at fastest pace in 7 years
Tuesday - November 25, 2008:
- ArcelorMittal may lay off 2,400 in Indiana
- Bank of Israel lowers interest rates to record low of 2.5%
- Chinese warn on social stability during economic crisis
- Citigroup gets massive government bailout
- The coming hedge fund meltdown
- Why gift cards are such a bad idea
- Mounting U_S_ financial rescue cost not a worry now
- A near-riot and parliament besieged Iceland boiling mad at credit crunch
- Colossal Financial Collapse The Truth behind the Citigroup Bank “Nationalization”
- All US Financials Will be Nationalized in a Year Manager
Monday - November 24, 2008:
- 22 US banks collapsed this year
- Ahmadinejad says Iran's economy will survive falling oil prices
- Obama may delay tax-cut rollback for wealthy
- UK forests & rivers may be sold
- Plan to Prop Up Citigroup Said to Be Near Approval
- Predicted: Economic Crisis in Israel to Worsen in 2009
Sunday - November 23, 2008:
- Community Bank of Loganville, Georgia, Is Shuttered
- Dell plans to shift more work to Asia
- Eagle Bancorp Receives Preliminary Approval Under Treasury Capital Purchase Program
- Ford says it may sell its corporate jet fleet
- General Motors board weighs bankruptcy option report
- GM board hasn't ruled out bankruptcy as an option
- Investor fear remains deep despite 1-day rally
- Morpace Reports Consumers Are Half as Likely to Buy from Big Three if Bankrupt
- Obama 'Millions of jobs' in danger next year
- Poizner Approves $115 Million Insurance Rate Hike for 2.5 Million California Homeowners
- U.S. Bank Acquires Downey Savings & Loan and PFF Bank & Trust Through an FDIC Facilitated Transaction
- Worst of financial crisis yet to come: IMF chief economist
Saturday - November 22, 2008:
- Get Ready For The Obama “Green Brigades”
- What Uncle Sam Has to Tell His Creditors
- Argentine Stocks Fall as Biggest Shareholders Seized
- Dark days see warnings of worse to come
- Ecuador Audit Recommends Default on Debt]
- Fed's Bullard U.S. deflation an issue Fed must face
- Geithner rallies stocks but Citi still ailing
- Illinois Employment Report Employee Confidence Index Declines Sharply Due to Concerns About Economy, Job Availability
- Obama Transition Said to Consider a ‘Prepack’ Auto Bankruptcy
- PA Governor Rendell Says Mounting Job Losses Mean Tougher Times Ahead
- Russia's Medvedev calls on APEC to assume greater global role
- Strengthening equal partnership in the Asia-Pacific region
- Toyota Will Cut 3,000 Jobs in Japan as Car Sales Fall
- UK govt may force banks to lend to firms
Friday - November 21, 2008:
- 8 endangered US industries
- Paulson Was Behind Bailout Martial Law Threat
- Analysis: Does this mean it's too late
- Citi eyes selling businesses, other options source
- Citigroup's Move Below $5 Could Trigger Major Selling
- Fear stalks the world’s economies
- Jobs data miserable, regional factories slump
- Mystery seller crashes TASE
- No relief seen in global economic crisis
- Putin announces measures to fight crisis in Russia
- Russia banks to be barred from state rescue package for loan abuse
- Russia's international reserves down $21.9 bln to $453.5 bln in week
- Dow off 445; S&P hits 11-year low
Thursday - November 20, 2008:
- Bar-On presents economic boost plan
- Bloodbath on the high street Woolworths shares hit £1
- Citigroup stock drops to 13-year low, fear grows
- Fed signals ready to cut rates amid glum outlook
- Dow falls 427 as stocks hit 5-year lows
- Romney recommends tough love for Big 3
- Target to slash prices as sales slide
- What if GM goes broke
- White House backs GOP auto plan
- Why aren’t groceries getting cheaper
Wednesday - November 19, 2008:
- 59 Groups Representing Millions of Taxpayers Tell Congress No State Bailouts!
- Auto execs ask Congress for $25 billion lifeline
- NYC: MTA's planned cuts include everything from station agents to entire train lines
- Paulson accused of 'bait-and-switch'
- S&P 500 Q3 Earnings Down 22%; Financials Post Fourth Consecutive Quarter of Negative Earnings
- Strapped for cash, some tap retirement funds
- Washington debates bailout
Tuesday - November 18, 2008:
- Citigroup to cut more than 50,000 jobs
- Economy sailing into rougher waters
- Facing Deficits, States Get Out Sharper Knives
- Forecasters U_S_ in 14 month recession
- G-20 Leaders Tighten Grip on Banks
- GM delays payments to dealers to save cash
- Goldman CEO, 6 others forgo 2008 bonuses
- Dow off 224 as economic fear grows
- New York Budget Gaps Threaten Broader Economy
Monday - November 17, 2008:
- Automotive News: The Cost of GM's Death
- California fires destroy 1,000 homes, winds ease
- Housing starts seen lowest in over 60 years
- Humbled US agrees to share world's financial top billing, economic reforms
- Japan's economy shrinks, enters recession
- JP Morgan could axe thousands of jobs report
- Showdown looming in Congress of automaker rescue
- Recession hits Japan, IMF needs more money
- World leaders urge fast action on financial crisis
- Food banks see more need, fewer donations
Sunday - November 16, 2008:
- Downturn drags more Americans into bankruptcy
- Washington Post: “most nations, including the United States, have acknowledged that a new world order has emerged”
- World leaders pledge to revive global economy
Saturday - November 15, 2008:
- G20 To Begin Implementation Of Global Financial Dictatorship
- Aso says Japan prepared to lend IMF $100B
- Eurozone officially in recession
- Chances Dwindle on Bailout Plan for Automakers
- Europe in recession, U.S. in pain as world leaders meet
- Insurers pull cover from suppliers to GM, Ford report
- OPEC to hold emergency meeting in Cairo on November 29
- Retail sales in record fall, but sentiment up
- Sun Microsystems to cut up to 6,000 jobs
- The 'frugal future' has arrived
- Top central bankers say ready for more action
Friday - November 14, 2008:
- Celente Predicts Revolution, Food Riots, Tax Rebellions By 2012
- Germany falls into recession
- Analysts Predict Hyper-Inflation To Push Gold To $2000, Oil to $300 Within Months
- Bad economy puts post office $2.8 billion in red
- Chicago Mayor Daley: Prepare For Mass Layoffs
- Chrysler urges bailout, Washington split
- Deficit and jobless claims jump, but stocks soar
- Europe's Hopes for Washington Summit Risk Being Dashed
- Germany, China, U.S. feel pain of global downturn
- Government readies for economic crisis
- Jobless claims hit 25-year high, imports plunge
- OECD says developed world already in recession
- Soros says deep recession inevitable, depression possible
- TASE dropping sharply on all indexes Jerusalem Post
- Sarkozy Pushes for Abandonment of Dollar as World Reserve Currency
Thursday - November 13, 2008:
- Applied Materials to cut 1,800 jobs; earnings tumble 45%
- Bank of England seeks to prevent deepening recession from pushing UK economy into deflation
- Bank of England: We'll slash interest rates to ZERO to rescue the economy
- Failure of auto industry could set off catastrophe
- Financial system may need over $1 trillion dealmakers
- Washington's $5 Trillion Tab
- Intel's shock warning sounds alarm for tech sector
- Japan Stocks Drop on U.S. Spending Concern; Sony, Mizuho Slump
- Paulson backs off asset plan; crisis deals at risk Financial News
- Democrats urge federal stake in big auto companies
- Russian trading halted after 12% drop
- Stocks plunge for third straight session
- Unemployment expected to hit 9%, Wachovia economists say
- US May Lose Its 'AAA' Rating
- UTMB to lay off 3,800 people
- Wall St falls amid fresh concerns over toxic assets
- White House says G20 meeting timely , British agree
Wednesday - November 12, 2008:
- Fed Hides Destination Of $2 Trillion In Bailout Money
- Fed Defies Transparency Aim in Refusal to Disclose
- Government To Confiscate 401(k)s and IRAs For Mandatory Savings Tax
- Asian economists warn Barack Obama policies could make downturn worse
- Dow to hit 6,000
- Dow off 177 despite mortgage aid plan
- GM announces 1,900 more layoffs at plants
- New envoy urges US to bail out Pakistan
- Oil Futures Settle Below $60 a Barrel
- Obama urges action as Asian, European data gloomy
- Ruble Devaluation Concern Triggers Stock Plunge, Rate Increase
- Sweden seizes Carnegie in first bank bail-out
- US Banks Will Lose $450 Billion More in 2 Years - Analyst
Tuesday - November 11, 2008:
- Wall Street Could Slash 70,000 Jobs
- AIG Gets Expanded Bailout, Posts $24.5 Billion Loss
- Brown Seeks G-20 `Consensus' on Taxes, Spending
- Growing credit crisis claims more US victims
- Spending cuts, layoffs in 'crisis' New York mayor
- UK's Brown: Now is the time to build global society
Monday - November 10, 2008:
- A quiet windfall for U.S. banks
- China moves to boost economy, G20 sees more action
- Japan, emerging markets and banks in crisis firing line
- Circuit City files for bankruptcy protection
- Deutsche Post to cut 9,500 jobs from DHL unit in US
Sunday - November 9, 2008:
- Fed's Lockhart Sees Slump Lasting Through June 2009
- Bankers battle to stop £12bn HBOS takeover
- Economic powers agree on need to boost growth
- G-20 Discusses More Interest-Rate Cuts, Flaherty Says
- Obama Will Need 18 Months to Turn Economy Around, Stiglitz Says
Saturday - November 8, 2008:
- Chrysler cash drains away as crisis deepens sources
- Food pantries mobilize as ranks of hungry grow
- Jobless ranks hit 10 million, most in 25 years
- Obama seeks stimulus as jobs die, carmakers bleed
- Russia president tells police to crush crisis unrest
- What bailed-out banks spend on lobbying
- The bankrupting of the nation for political gain
Friday - November 7, 2008:
- 3 'superbanks' now dominate industry
- Asian Markets Fall as Investors Refocus on Economy
- Europe cuts rates as Obama to address global crisis
- Holiday outlook grimmer after dismal Oct.
- IMF approves $16.5 billion Ukraine loan
- Las Vegas Sands Plunges on Default, Bankruptcy Risk
- Russia's international reserves down $71.5 bln in October
- Schwarzenegger $4.4B in tax hikes to end deficit
- Stocks tumble, lose 10 percent in 2-day rout
- Weak Sales, Jobless Report Punish Stocks
Thursday - November 6, 2008:
- A credit crater too big to fill
- An Argentinean voice from the economic wilderness
- Go Get Your Dollars Out Now! FAST!!!
- European Stocks, U.S. Index Futures Fall; Time Warner Declines
- Obama victory met with job losses, market mayhem
- NYC mayor Can't afford $400 property tax rebates
- Stocks plunge anew as recession worries resurface
- U.S. stocks, oil fall on global slowdown fears
- Bloomberg NYC Income Tax Could Rise 15 Percent
- Zimbabwe gold mining companies owed $30M, may collapse
Wednesday - November 5, 2008:
- Dell asks workers to take unpaid vacation
- It's No Joke Fed Hires Failed Bank Executive
- NYC deficit rises to $4 bln as Wall Street slides
Tuesday - November 4, 2008:
- Auto sales 'unsustainably weak'; GM's fall 45 %
- Circuit City to close 155 U.S. stores
- Factory output weakest in 26 years, ISM survey says
- Global financial crisis drives EU toward recession
- Manufacturing crash adds to global gloom
- Recession rears ugly head, global auto sales shrink
Monday - November 3, 2008:
- Brown confident of Middle East cash for bail-out fund
- Cash in on the Grinch economy
- Mideast business leaders see U.S. influence declining in region
- US markets appear headed toward a strong open
Sunday - November 2, 2008:
- Brown seeks IMF boost; China feels crisis
- China, India feeling impact of global crisis
- Did N.Y. Dems create economic diversion for Obama
- Japan's new economic package ineffective
Saturday - November 1, 2008:
- A Dismal Earnings Outlook on Wall Street
- China And Russia Hint At Dropping US Dollar
- Banking panel chairman says use of bailout funds for executive bonuses violates the law
- Consumers slash spending, world markets stabilize
- Federal Regulators Shut Down Freedom Bank
- October auto sales may have hit two-decade low
- Vince Cable says Royal Bank of Scotland is 'making monkeys' out of government as it prepares to pay millions in bonuses
- What's scary about this recession
Archives --
October 2008
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