It was only a few weeks ago that most right-thinking economists and left-leaning bloggers were jumping on Treasury Secretary Hank Paulson for his plan to jump-start the markets in asset-backed securities by having the government buy them up at auction. Much better, they argued, to use the $700 billion to “recapitalize” the banking system, just [...]
WASHINGTON (Reuters) –
The U.S. economy suffered its sharpest contraction in seven years in the third quarter as consumers cut spending and businesses reduced investment at the onset of what may be a severe and long-lasting recession.
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Related PostsWall Street sells off as consumers snap wallets shut
(Reuters)NEW YORK (Reuters) –
U.S. [...]
A few months ago I was in a desperate financial situation and I found myself searching the internet for quick ways to earn money. The problem is that every article I found either required an initial investment or took months to see a return. I didn’t have any money to invest, nor did I have [...]
THE battle against major oil companies spread today when service stations slashed the cost of unleaded petrol by a staggering 40c a litre.
The biggest winners were Sydney motorists, who enjoyed a “happy hour” where unleaded petrol was sold at less than $1 a litre between 8am and 9am.
Inspired by Blacktown’s crusading petrol warrior Marie El-Khoury, 10 [...]
A survey finds employees have cut down on surfing the Web and chatting on the phone at work.
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Related PostsHispanics Hit Hard As Workers Lose Hours
With the economy in the grip of a slowdown, American workers are increasingly losing full-time work…Important Considerations For Hospital UniformsPutting together the perfect hospital uniform is really quite simple if [...]
Meet the HENRYs
These “high earners, not rich yet” families make $250,000-plus and will be paying for the bailout. more
Bankruptcies rise
Three years after a bill was passed aimed at reducing personal bankruptcies, filings are on the rise. more
Life after kids
The upside to an empty nest: much fuller pockets. Make [...]
3:17pm UK, Tuesday October 28, 2008
China and oil-rich Gulf states should boost the IMF’s fund to bail-out countries hit by the global economic crisis, according to Gordon Brown.
PM says it is in every country’s interest to contain financial problems
Mr Brown said a substantial increase in the IMF’s £160bn fund was required to lessen the risk of [...]
Britain’s banks may need to raise capital above and beyond the £50 billion of
taxpayer-underwritten money already earmarked for them.
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Related PostsTreasury may sell shares to City to cut taxpayers’ bank bailout bill
The Treasury is considering dangling the lure of lucrative shares in the banks
to pension funds a…Banks Told To Stash The CashMr Sants said [...]
DUBAI, United Arab Emirates — Fahad al-Deweesh, a vice president at a Persian Gulf investment firm, is getting e-mails from old finance classmates at the University of Southern California he hasn’t heard from in years, asking what the job market here looks like for Americans.
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Related PostsFord to retool U.S. plants for European cars: report [...]
CHICAGO (Reuters) –
The U.S. Federal Reserve is expected to cut lending rates at a two-day policy meeting this week in response to unprecedented turmoil in financial markets and the threat of a global recession.
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Related PostsBanks slash interest rates - on depositsSTRESSED homeowners have been slugged again, with the banks moving swiftly to slash the [...]
October 31, 2008 