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- Toyota Suspends Production For 11 Days
- Toyota Motor Corporation said on Tuesday that it would suspend production at all of its domestic plants for 11 days between February and March in response to a slump in sales.The move underscores the rapidly deteriorating fortunes of Japan's auto giants, which have racked up bumper profits in recent...
- News items 2009-01-07
- OPEC Wants Non-members to Cut Oil Output
- OPEC would like to see non-members slash their oil production by between 500,000 and 600,000 barrels a day, cartel secretary general Abdalla Salem El-Badri said on Tuesday."I would like not less than 500,00-600,000 barrels a day" from non-members, Badri told reporters ahead of a meeting Wednesday of OPEC ministers,...
- News items 2008-12-17
- Oil Prices Fall Despite OPEC Cut Plans
- Oil prices fell again even as the OPEC cartel prepared to announce output cuts to shore up prices at a time when the world is reeling from a sharp economic slowdown.The price fall also came as the Federal Reserve lowered its key interest rate to virtually zero, a landmark...
- News items 2008-12-17
- Oil Prices Dip at End of Volatile Year
- Oil prices eased on Wednesday but managed to remain above 40 US dollars in London at the end of a tumultuous 2008 which saw crude hit record peaks before plunging to multi-year lows.Brent North Sea crude for delivery in February dipped six cents to 40.09 dollars a barrel in...
- News items 2009-01-01
- World Jobless May Hit 25 Million: OECD
- The global economic crisis will push up unemployment by up to 25 million by 2010, the OECD chief has forecast, saying there has been a "truly scandalous failure" of regulatory supervision."We're heading for a loss of between eight and 10 million jobs in the OECD area ... and 20...
- News items 2008-12-23
- Cash Crisis 'may Shrink Online Economy'
- The internet economy could shrink in 2009 because of the worldwide downturn, the OECD warned Monday in a report that forecast contraction of the semiconductor industry and cutbacks by corporate customers.The Paris-based Organisation for Economic Co-operation and Development said that "with the outlook for the global economy worsening and...
- News items 2008-12-23
- IMF Chief Warns Crisis to Worsen in '09
- International Monetary Fund chief Dominique Strauss-Kahn warned on Thursday that the financial crisis would worsen in 2009 and affect the whole world, during a visit to Costa Rica."I want to tell you that 2008 was a difficult year in the world economy but in no way can we expect...
- News items 2008-12-12
- Job Cuts, China Troubles Tip Recession
- Job cuts, bankruptcy fears and faltering Chinese exports provided fresh evidence of a deep and painful recession on Wednesday as dismal economic news mounted around the globe.In Beijing, official data showed that exports from China fell for the first time in seven years in November as the spreading global...
- News items 2008-12-11
- China's Money Supply Up 14.8%
- China's money supply rose 14.8 per cent year-on-year at the end of November according to its broad measure, the central bank said on Monday.The latest figures for the broad M2 measure, which includes cash in circulation and all deposits, compare to a growth of 15.02 per cent at the...
- News items 2008-12-16
- OPEC Set to Slash Oil Output
- OPEC, the cartel pumping 40 per cent of world oil, is this week set to announce plans to slash output in the hope of lifting crude prices weighed down by a recession-fuelled slide in energy demand.The Organisation of Petroleum Exporting Countries on Wednesday convenes in the Mediterranean port city...
- News items 2008-12-14
- Finance Leaders Remain Pessimistic
- International finance leaders delivered a grim forecast for 2009 on Sunday, warning next year could be even worse than this one despite a slew of government stimulus plans.International Monetary Fund chief Dominique Strauss-Kahn predicted a "very dark" 2009 which could be worse than expected if states failed to take...
- News items 2008-12-22
- Japan Drafts Record Y88 Trillion Budget
- Japan drafted a record Y88.55 trillion ($A1.45 trillion) budget for fiscal year 2009 in a bid to revive Asia's biggest economy, which is slipping deeper into recession, officials said.The finance ministry late on Saturday proposed the general account budget for the fiscal year starting April, at an all-time high...
- News items 2008-12-22
- World Bank Forecasts Grim 2009
- The World Bank has painted a grim picture of the global economy in 2009, with growth weakening to a crawl and trade volume falling for the first time in 26 years.In its "Global Economic Prospects" report, the multilateral institution forecast the global economy would expand a mere 0.9 per...
- News items 2008-12-10
- IMF Boss Sees Late '09 Economic Recovery
- The International Monetary Fund chief warned on Monday of a global recession but said the world economy could begin to recover in late 2009 or early 2010 after "a very difficult year.""The global outlook will continue to deteriorate," IMF managing director Dominique Strauss-Kahn said. "The possibility of global recession...
- News items 2008-12-16
- Electrolux Cuts 3,000 Jobs Worldwide
- Electrolux, the world's leading electric appliance maker, it plans to cut 3,000 jobs worldwide and warned it would not meet its 2008 operating profit target due to declining demand."As a result of weakening demand for appliances in the two last weeks of November and in December, Electrolux will not...
- News items 2008-12-16
- Oil Market 'needs Big Output Cut'
- The OPEC secretary general said on Monday that an over-supplied oil market needed a hefty output cut and the OPEC president said there was unanimous support in the organisation for a cutback.These remarks underpinned speculation that cartel ministers would take action to boost prices at meeting on Wednesday.OPEC Secretary...
- News items 2008-12-16
- Madoff Scandal Could Cost Banks Millions
- Top banks in Europe and Asia revealed on Monday they could lose billions of dollars in a massive alleged pyramid investment fraud scam run by Wall Street figurehead Bernard Madoff.British, Japanese, South Korean, French and Spanish banks were among the worst affected, with Royal Bank of Scotland saying it...
- News items 2008-12-16
- Key Index Shows No Sign of US Recovery
- A key forward-looking economic index suggests no quick recovery for the recession-hit US economy, a business research group said.The Conference Board reported that its composite index of leading economic indicators declined 0.4 per cent in November, following a 0.9 per cent drop in October, and no change in September.The...
- News items 2008-12-19
Additional Resources
- Letter: Mailbag - Hamper happiness
- Byline: MRS A LEUSHING A BIG thank you to the children of Form AFP and their teachers at Colne Valley High School, for the wonderful Christmas hamper delivered to my door and other residents' on the Pennine gardens estate. They are much appreciated and will be enjoyed. Thank...
- Articles 2008-12-19
- War veteran fights for payout
- Britain in brief Major Richard Perkins, 91, of Lastingham, North Yorkshire, who claims he is owed thousands of pounds in state compensation for the mental breakdown he suffered in Malaya during the Second World War, took his campaign to Parliament yesterday AFP...
- Articles 2008-12-18
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