California prepares to stop paying bills: Come Feb. 1, tax refunds, welfare checks replaced with IOUs
Consumer confidence hits another low: A new year and a new president failed to boost consumer confidence this month, as the outlook dropped to its lowest level in more than 40 years, according to a report released Tuesday.
Bloody Monday: Over 71,400 jobs lost: More than 200,000 job cuts have been announced so far this year, according to company reports. Nearly 2.6 million jobs were lost over 2008, the highest yearly job-loss total since 1945.
US firms announce heavy job cuts: US construction equipment giant Caterpillar earlier said it was to cut about 20,000 jobs, after its profits slumped by 32 per cent.
Fannie, Freddie may tap U.S. Treasury for $51 bln: The storm of rising delinquencies and falling securities values that led to the government's seizure of the companies in September accelerated in the last quarter, requiring Fannie Mae and Freddie Mac to seek more of the stop-gap measures organized by the U.S. Treasury and their regulator. Analysts predicted more capital needs from Treasury through 2009.
Forecasters see historic drop in retail sales: Half-percent downturn in ’09 would be the first one in at least 30 years
Road To Ruin: Twenty-five people at the heart of the meltdown: The worst economic turmoil since the Great Depression is not a natural phenomenon but a man-made disaster in which we all played a part. Julia Finch picks out the individuals who have led us into the current crisis
NY financier arrested in purported $400 million scam: Authorities on Monday arrested the chief executive of a private New York financing firm on suspicion of running a purported Ponzi scheme that attracted $400 million in investments, U.S. law enforcement officials said.
Posts
