Forbes: Financial Crisis Will Spawn “Next Great Mega-Litigation”
Monday, November 24th, 2008 Posted in Uncategorized | No Comments »The current market turmoil will lead to the “next great mega-litigation,” a Forbes article predicts, “likely to rival the more than 12 billion dollars spent cleaning up the Enron and WorldCom debacles.” “This is certainly a major litigation event,” Samuel Rudman ...
Credit crisis UK: Cash-strapped consumers now start mending their toasters
Monday, November 24th, 2008 Posted in Uncategorized | No Comments »Rather than incur up to £100 call out charges and employing expensive professionals, consumers have started mending their own toasters, ovens and lawnmowers. The online auction site eBay, has also reported a boom in customers looking to buy spare parts for ...
Honda in Swindon (United Kingdom) closing for 50 days
Monday, November 24th, 2008 Posted in Uncategorized | No Comments »Honda has announced plans to cut production at its plant in Swindon, which will close for 50 days next year. Honda said it plans to make 61,000 fewer vehicles in Japan and Europe as it struggles to cope with slowing ...
UK: Economy boost may mean more pain later
Monday, November 24th, 2008 Posted in Uncategorized | No Comments »The government is preparing to confirm that a huge and unplanned rise in government borrowing will have to be paid back in the years to come. "The chancellor has to tell the country how far we've gone into the red," ...
Citigroup Banks plunges on uncertainties
Sunday, November 23rd, 2008 Posted in Uncategorized | No Comments »Shares in Citigroup, one of the biggest US banks, on Friday plunged amid uncertainty about the firm's future. The firm's stock rose in early trading but later tumbled to end the day 20% lower at $3.77 as investors awaited ...
Hard-up GM to sell Suzuki stake
Sunday, November 23rd, 2008 Posted in Uncategorized | 1 Comment »General Motors is selling its 3% stake in the Japanese carmaker Suzuki for $230m (£156m) to raise cash. Suzuki said it would buy back the stake, adding that it understood GM faced a need to secure funding. Suzuki, which specialises in ...
APEC leaders say no to trade barriers
Sunday, November 23rd, 2008 Posted in Uncategorized | No Comments »Leaders from 21 nations accounting for half the world's economy pledged not to implement protectionist measures for the next year -- no matter how punishing the global downturn gets. "We strongly support the Washington Declaration and will refrain within the next ...
Bush scores wins on economy, N. Korea
Sunday, November 23rd, 2008 Posted in Uncategorized | No Comments »President Bush snares international support on the economy and Northern Korea, emerging from his final world gathering with modest wins and growing nostalgia about his turbulent tenure. LIMA, Peru - U.S. President George W. Bush snared fresh international support Saturday on ...
General Motors says board of Directors doesn’t see bankruptcy as option
Sunday, November 23rd, 2008 Posted in Uncategorized | No Comments »GM's board of directors does not consider bankruptcy protection a viable option to solve the company's financial troubles, but it has discussed Chapter 11 because it has a legal duty to do so according to a spokes woman saturday 22 ...
Credit crisis: ‘The worst is over’. Emotions are your enemy!
Sunday, November 23rd, 2008 Posted in Uncategorized | No Comments »Steve Forbes, the publisher of Forbes magazine, is one of the few people remaining optimistic despite gloomy predictions about the global economy. He talked to Matt Frei about how an economic recovery could be underway. See the video