The US economy continued to contract in the first quarter of this year as business investment collapsed in the face of eroding global demand.
Preliminary commerce department figures showed on Wednesday that US gross domestic product declined by 6.1 per cent in the first quarter, after declining by 6.3 per cent during the fourth […]
Royal Dutch Shell followed rival energy group BP in reporting a sharp fall in profits for the first quarter but exceeding analysts’ expectations.
Net profit after tax, adjusted to remove the effect of changes in the value of inventories, fell to $3.3bn (£4.85bn) from $4.79bn in the equivalent period of 2008
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Tuesday, April 28, 2009
By Porter Stansberry in the S&A Digest
I’m not going to get into what’s fair. That’s for individual bondholders to decide,” explained new GM CEO (and former CFO) Fritz Henderson. Fair? There’s nothing fair about doing business with the government or the unions…
Few people, especially in government and big business, seem to remember […]
The United Auto Workers’ union will own 55% of Chrysler and Italy’s Fiat will eventually own 35% of the carmaker after a balance sheet restructuring, with remaining stock split between Chrysler’s secured lenders and the US federal government, according to a UAW document sent to members on Tuesday.
This came amid some signs that […]
Apr 28 2009 01:41
Governments from Asia to Europe on Monday stepped up their response to the outbreak of deadly swine flu in the Americas as the WHO brought forward an emergency meeting and travel stocks were hit Read more »
US to take majority GM stake
Apr 28 2009 00:08
The US government is to take majority control of General […]
The ideal interest rate for the US economy in current conditions would be minus 5 per cent, according to internal analysis prepared for the Federal Reserve’s last policy meeting.
The analysis was based on a so-called Taylor-rule approach that estimates an appropriate interest rate based on unemployment and inflation. Read more »
UBS, the troubled Swiss bank, announced the departure of Jerker Johansonn, the global head of its investment bank, in a latest attempt to recover from financial losses and blows to its reputation Read more »
Kirin, the Japanese brewer, will pay A$3.3bn ($2.4bn) to buy the 53.9 per cent of Lion Nathan it does not already own in a deal valuing Australia’s second largest brewing group at A$6.5bn Read more »
In Categories: M&A, Capital markets, Private equity
Posted at 05:03 by Gwen Robinson
International Lease Finance Corp has drawn closer to separating from AIG, its troubled parent, with three groups submitting bids to acquire the aircraft lessor for less than $5bn. The groups include a consortium led by Thomas H. Lee Partners and Carlyle Group, and […]
Apr 26 2009 23:53
Governments and health authorities worldwide went on the alert for a possible influenza pandemic as the death toll from a new strain of swine flu in Mexico reached 81 Read more »
IMF says west’s deficits to stay sky-high
Apr 26 2009 23:26
Budget deficits across the industrialised world will remain sky-high next year even […]