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- Oil Closes at Six Month Low, Below $100
- Oil prices have closed below $100 a barrel for the first time in six months Monday, tumbling in another dramatic sell-off as the demise of Lehman Brothers and the sale of Merrill Lynch deepened worries about the US economy.Crude prices shed more than $5 a barrel and have now...
- News items 2008-09-16
- Treasury Secretary Warns of Isolationism
- Treasury Secretary Henry Paulson told international leaders on Sunday that isolationism and protectionism could worsen the spreading financial crisis.With a new trading week dawning, US politicians urged quick action by the Bush administration on measures to make direct purchases of bank stock to help unlock lending.Senator Chuck Schumer, chairman...
- News items 2008-10-13
- Asian Economies 'unhurt By World Crisis'
- Asia's financial system is little affected by the US subprime mortgage problems that has triggered a global crisis, and the region overall will enjoy robust growth, the head of the Asian Development Bank has said."The impact on the financial sector in Asia is limited this time," ADB President Haruhiko...
- News items 2008-10-10
- Daimler to Add 1,000 Jobs Next Year
- Carmaker Daimler AG says it plans to add more than 1,000 jobs around the world next year despite the world financial crisis.The company said on Thursday it will create 500 new positions in Stuttgart, Germany, alone in an effort to prepare the next generation of employees.At the same time,...
- News items 2008-10-10
- New AIG Loan Causes Fresh Concern
- Concerns about the health of American International Group Inc were renewed Thursday, a day after the insurance giant said it would receive an additional $US37.8 billion ($A56.99 billion) loan from the Federal Reserve."The bottom line is, they need more liquidity than they thought," said Mark Lane, an analyst for...
- News items 2008-10-10
- Online Firm EBay to Cut 1,600 Jobs
- After a series of changes designed to draw more people to its online marketplace, eBay Inc's latest alteration is aimed at its own employees.The auction site operator said Monday it will cut about 1,600 jobs, 10 per cent of its work force, in its largest round of dismissals ever.About...
- News items 2008-10-07
- Shares in Apple Hit 52-week Low
- Shares of Apple Inc. plunged to a 52-week low Monday and flirted with the $US100 ($A121) line after analysts downgraded the stock because they believe slowing consumer spending will hit its computer business.The downgrades compounded losses in the general market due to the continuing credit drama. The stock fell...
- News items 2008-09-30
- Wrigley Shareholders Tick Sale to Mars
- Shareholders of Wm Wrigley Jr Co have approved the company's $23 billion sale to Mars Inc, a move that will end more than a century of family control as the chewing-gum company becomes part of what will now be the world's largest lolly maker.The deal, expected to be finalised...
- News items 2008-09-26
- World Leaders Fight Financial Crisis
- World leaders have called for international action to combat the global financial crisis, urging cooperation even as the US pressed ahead with unilateral action to stem a credit crunch that has engulfed global markets.The focus on the dismal economic situation in the United States at the annual UN General...
- News items 2008-09-25
- No Management Changes at Aussie Lehman
- No management changes are expected at Lehman Brothers Australia as a result of Nomura Holdings Inc's acquisition of the bankrupt Lehman franchise in the Asia Pacific region."Current senior management will continue in their roles," a spokeswoman for Lehman Brothers Australia told AAP.Nomura announced its acquisition of Lehman's Asia Pacific...
- News items 2008-09-23
- Major US Investment Banks Change Status
- It was the end of an era on Wall Street as the Federal Reserve granted permission for the last two major US investment banks - Goldman Sachs and Morgan Stanley - to become bank holding companies in order to stay in business.The US central bank announced late Sunday evening...
- News items 2008-09-23
- Lehman Europe Wants $US8 Billion Back
- Lehman Brothers in Europe has asked its US counterpart to give back more than $US8 billion ($A9.96 billion) that it says was trapped when Lehman's holding company filed for bankruptcy protection in New York a week ago.Lehman Brothers International in Europe wants the money back before key US operations...
- News items 2008-09-22
- Gold Prices Post Biggest 1-day Gain Ever
- Gold prices exploded on Wednesday - posting the biggest one-day gain ever in dollar terms - as fears of more credit market turmoil unnerved investors and triggered a flood of safe-haven buying.Gold for December delivery rose as much as $US90.40, or 11.6 per cent, to $US870.90 an ounce in...
- News items 2008-09-18
- Energy Fall Pushes Consumer Prices Down
- US consumer prices in August posted the first monthly decline in nearly two years as Americans finally got some relief from surging energy prices. But the cost of food and clothing still rose last month and wages over the past year are down.Consumer prices edged down 0.1 per cent...
- News items 2008-09-17
- IMF Reassures Poor Countries on Aid
- The heads of the World Bank and International Monetary Fund on Sunday assured developing countries their needs would not be forgotten in efforts to tackle the financial crisis.Picking up on complaints that the crisis will put recent hard-won economic gains in the developing world at risk, World Bank head...
- News items 2008-10-13
Additional Resources
- Customer shoots, kills retail employee at mall
- KNOXVILLE, Tenn. AP -- A customer opened fire in a crowded shopping mall Wednesday afternoon, killing a clothing store employee before he was shot and wounded by police officers, authorities said. Witnesses said the gunfire sent people "stampeding" for cover. The employee was shot multiple times around...
- Articles 2008-10-09
- National Debt Clock runs out of digits
- NEW YORK AP -- In a sign of the times, the National Debt Clock in New York City has run out of digits to record the growing figure. As a short-term fix, the digital dollar sign on the billboard- style clock near Times Square has been switched...
- Articles 2008-10-09
- Rescue workers shot at while responding to fire
- INDEPENDENCE, Ky. AP -- Police and firefighters were shot at when they arrived at a burning Kentucky home where they found three family members dead inside and a toddler wandering outside, police said Wednesday. Police and firefighters came under fire around 10 p.m. on Tuesday when they...
- Articles 2008-10-09
- Woman is accused of bullying daughter's ex
- ST. CHARLES, Ill. AP -- A woman is accused of badgering her daughter's teenage ex-boyfriend with hundreds of e-mails and text messages and threatening to post nude images of him on the Internet unless he started seeing the girl again, a prosecutor said Wednesday. According to a...
- Articles 2008-10-09
- Lakers coach's legs starting to improve
- EL SEGUNDO, Calif. AP -- Los Angeles Lakers coach Phil Jackson was at practice Wednesday, a day after missing the team's preseason opener because of soreness and swelling in his lower legs. Team spokesman John Black said Jackson felt better, although he hadn't decided whether he would...
- Articles 2008-10-09
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