Official figures released on Friday showed that non-farm payrolls in the United States dropped by 651,000 last month, while the unemployment rate - 4.4 per cent before the credit crisis – jumped to 8.1 per cent, its highest level since 1983. According to the US labour department, 12.5m Americans are now unemployed.
The figures were slightly […]
Top Goldman Sachs executive Jon Winkelried will be barred from selling most of his shares in the bank when he steps down as one of its presidents at the end of this month because of a provision in the 2008 deal to sell a stake to Warren Buffett Read more »
China Mobile in research offer
Mar 05 2009 […]
Top Goldman Sachs executive Jon Winkelried will be barred from selling most of his shares in the bank when he steps down as one of its presidents at the end of this month because of a provision in the 2008 deal to sell a stake to Warren Buffett Read more »
China Mobile in research offer
Mar 05 2009 […]
The Bank of England’s Monetary Policy Committee cut its key rate by half a percentage point, as was widely expected, and unveiled plans to combat slumping demand through “quantitative easing”.
Thursday’s cut to 0.50 per cent from one per cent came despite pleas from banks that lower rates are hurting profit margins and discouraging […]
Mar 04 2009 14:53
The Indian carmaker signals its ambitions for the European market by launching the low-cost Nano, an electric car and a luxury saloon at the Geneva motor show Read more »
Barclays questioned on funds
Mar 05 2009 00:00
Lehman Brothers’ US liquidators have asked Barclays to explain what happened to an estimated $3.3bn earmarked for bonuses […]
Mar 05 2009 02:09
Premier Wen Jiabao assured that China will achieve 8% growth this year despite a deepening financial crisis, setting out export support and spending programmes to shore up the economy Read more »
Barclays questioned on funds
Mar 05 2009 00:00
Lehman Brothers’ US liquidators have asked Barclays to explain what happened to an estimated $3.3bn earmarked […]
Lehman Brothers’ US liquidators have asked Barclays to explain what happened to an estimated $3.3bn (€2.6bn) earmarked for bonuses and other liabilities that the UK bank received when it acquired part of the bankrupt Wall Street firm last year Read more »
Mar 04 2009 01:34
MGM Mirage, the gaming operator that owns some of the world’s best-known casinos warns that it is at risk of defaulting on its debt, underscoring the steep downturn in the global gaming sector Read more »
GM urges EU states to come to its aid
Mar 03 2009 14:56
The struggling US carmaker said that its European […]
Mar 04 2009 02:35
Australia’s economy unexpectedly shrank for the first time in eight years in the fourth quarter, reviving pressure for more monetary and fiscal stimulus. The news pushed down share markets and undermined the Australian dollar Read more »
Toyota seeks $2bn crisis loan
Mar 03 2009 18:30
The financial services unit of the Japanese carmaker has applied for […]
By John Reed in Geneva
Published: March 3 2009 14:56 | Last updated: March 3 2009 14:56
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