TROUBLE: ASSOCIATED PRESS to cut 10% jobs...
WEATHER CHANNEL lays off staff...
NYTIMES cuts dividend, 'reevaluates' assets...
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More on developments as the crisis continues
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TELEGRAPH 22.11.08
Brown and Darling's turn in the dock
THE UK's bank rescue package may have been a policy success hammered
out between the Treasury, Bank of England and the banks, but the
Government's next crisis response will not go down so well. What
shall we call the pre-Budget report? Black Monday? That seems a bit
churlish, given it's a pre-Christmas present (of our own money)
designed to cheer us up even if it does contain a thinly disguised
political bribe. Perhaps Manic Monday, given the whirlwind of
measures aimed at perking us up. Magic Monday? Come on, you picked up
The Daily Telegraph, not the Guardian. I think Make-Believe Monday,
or perhaps Mirage Monday are nearer the mark. Anyone who believes
Labour's fiscal time bomb will deliver anything other than yet more
problems are delusional fantasists. Gordon Brown and Alistair Darling
have helped destroy value on an epic scale. They are not the only
culprits but Monday's their turn in the dock.
The FTSE 100 closed on polling day 1997 at 4445.01. It was 3780.96
last night. That's one way of measuring New Labour's legacy.
For the record that's a fall 15% in a period when inflation has
roughly accounted for 24% rise in prices so that Labour under Brown
has depreciated the value of British companies by 40% or thereabouts!
==========================
OTHER TELEGRAPH STORIES
TELEGRAPH 22.11.08
Brown and Darling's turn in the dock
THE UK's bank rescue package may have been a policy success hammered
out between the Treasury, Bank of England and the banks, but the
Government's next crisis response will not go down so well. What
shall we call the pre-Budget report? Black Monday? That seems a bit
churlish, given it's a pre-Christmas present (of our own money)
designed to cheer us up even if it does contain a thinly disguised
political bribe. Perhaps Manic Monday, given the whirlwind of
measures aimed at perking us up. Magic Monday? Come on, you picked up
The Daily Telegraph, not the Guardian. I think Make-Believe Monday,
or perhaps Mirage Monday are nearer the mark. Anyone who believes
Labour's fiscal time bomb will deliver anything other than yet more
problems are delusional fantasists. Gordon Brown and Alistair Darling
have helped destroy value on an epic scale. They are not the only
culprits but Monday's their turn in the dock.
The FTSE 100 closed on polling day 1997 at 4445.01. It was 3780.96
last night. That's one way of measuring New Labour's legacy.
For the record that's a fall 15% in a period when inflation has
roughly accounted for 24% rise in prices so that Labour under Brown
has depreciated the value of British companies by 40% or thereabouts!
==========================
OTHER TELEGRAPH STORIES
Citi to shrink UK presence
The threat hanging over Citigroup will mainly affect its army of
investment bankers in Canary Wharf.
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The threat hanging over Citigroup will mainly affect its army of
investment bankers in Canary Wharf.
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AND NOT ON WEBSITE
Weak Pound prompts Sony to raise its prices
Sony is to raise prices of its electrical goods by up to a third to
offset the falling value of sterling , it said, --- after the pound
fell to its lowest ever level against the euro, reducing its income
from British sales
==
Sony is to raise prices of its electrical goods by up to a third to
offset the falling value of sterling , it said, --- after the pound
fell to its lowest ever level against the euro, reducing its income
from British sales
==
Europe facing deflation danger
Pressure mounted on the European Central Bank to cut interest rates
yesterday, amid signs that the continent's recession is deepening and
deflation could be on its way
Pressure mounted on the European Central Bank to cut interest rates
yesterday, amid signs that the continent's recession is deepening and
deflation could be on its way
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