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Dodd paints bleak picture for auto bailout

Washington :: DC :: USA | about 8 hours ago | Business News

Source: The Hill

Coming up with a congressional solution is a very “tall order to try to get done in three days, four days before next week.” But he added that he had a “working situation” right now and the makings of putting...

31 news stories / 24 blog posts / 30 images / 30 videos / 0 voices

Can Obama save the auto industry?

Olympia :: WA :: USA | about 4 hours ago | Business News

Posted by vishnughimire

Senate and House hearings that began Thursday could make or break the American auto industry and pose a major test of whether the White House and the incoming Obama administration can work together to save the companies from collapse. The...

31 news stories / 5 blog posts / 1 image / 5 videos / 1 voice

New York Federal Reserve Opens 'Pawn Shop' to Up ABS Junk

New York City :: NY :: USA | about 5 hours ago | Business News

Posted by paisano1

New York Federal Reserve Opens 'Pawn Shop' to Up ABS Junk By Anthony M. Freed On Wednesday, December 3, 2008 The New York Federal Reserve website reported that they will begin to purchase Asset Backed Securities (ABS) from failed mortgage...

17 news stories / 9 blog posts / 1 image / 10 videos / 2 voices

Nokia downgrades market forecast for 2nd time

Helsinki :: Finland | about 14 hours ago | Business News

Source: Miami Herald

World-leading mobile phone maker Nokia Corp. downgraded its fourth-quarter market outlook Thursday for the second time, saying the slowdown in the industry was bigger than expected. Nokia said it expected industrywide handset volumes to drop below its previous estimate of...

20 news stories / 9 blog posts / 26 images / 10 videos / 0 voices

Microsoft Recruits Former Yahoo Wiz

Washington :: DC :: USA | about 12 hours ago | Business News

Source: Fox News

The recruitment of Lu, which was announced late Thursday, comes months after Microsoft abandoned marathon efforts aimed at acquiring Yahoo. “I am tremendously excited to welcome Qi to Microsoft,” Ballmer said in a press release. “Dr. Lu’s deep technical expertise,...

11 news stories / 13 blog posts / 26 images / 4 videos / 0 voices

Oil and gold prices fall

London :: United Kingdom | about 12 hours ago | Business News

Source: Sydney Morning Herald

Oil prices fell more than $US3 on Thursday to the lowest levels for almost four years due to growing concern about demand in the world's biggest energy consuming nation, the United States...Later, on London's InterContinental Exchange (ICE), Brent recovered slightly...

11 news stories / 23 blog posts / 30 images / 22 videos / 0 voices

DuPont Projects Loss, Cuts Jobs

Wilmington :: NC :: USA | about 13 hours ago | Business News

Source: Asian Wall Street Journal

DuPont Co. said Thursday it is cutting thousands of jobs and slashed its 2008 earnings forecast as the global economic downturn shrinks orders for its products. The chemical manufacturer said it experienced "a sharp downturn in demand" in the fourth...

12 news stories / 8 blog posts / 5 images / 0 videos / 0 voices

The Insanity of the Big 3

Washington :: DC :: USA | about 3 hours ago | Business News

Posted by crabbypatty

By now we are all up to our ears in auto industry bailout junk. Instead of regurgitating the obvious, I'm just going to give my dos centavos. Why is it that these CEOs and other executive mucky-mucks are made out...

7 news stories / 0 blog posts / 2 images / 0 videos / 3 voices

Bank of England cuts interest rates further

Halifax :: United Kingdom | about 14 hours ago | Business News

Source: Moneynews

According to the bank, business indicators show that the economic downturn has gathered pace around the world necessitating an extra one per cent cut in the base rate on top of last month's 1.5 per cent reduction. The base rate...

11 news stories / 7 blog posts / 30 images / 14 videos / 0 voices

New jobless claims drop unexpectedly

Auburn :: WA :: USA | about 11 hours ago | Business News

Posted by apriljieh11

By CHRISTOPHER S. RUGABER, AP Economics Writer WASHINGTON – New claims for jobless benefits fell unexpectedly last week but the number of people continuing to receive government aid reached a 26-year high and large companies announced more job cuts Thursday....

18 news stories / 1 blog post / 20 images / 0 videos / 1 voice