China now world’s third largest economy: China passed another milestone in its stunning rise on Wednesday when new data showed it had leapfrogged Germany in 2007 to become the world’s third-largest economy.
Fear grips banking sector as Barclays cuts 2,100 more jobs: Barclays announced plans to cut a further 2,100 jobs at its retail and commercial banking business, taking its total job cull over the past week to almost 5,000
Foreclosures soar 81 percent in 2008: U.S. foreclosure activity jumped 81 percent in 2008, with one in every 54 households getting at least one filing notice, suggesting various state laws and private programs to slow the process have been ineffective, RealtyTrac reported on Thursday.
Chrysler extends shutdowns at 3 plants: Chrysler LLC said on Thursday it would extend its month-long shutdown of its manufacturing operations at three plants, citing weak U.S. vehicle demand.
Saks to cut 9 pct of workforce, slash spending: Department store chain Saks Inc (SKS.N) said on Thursday it would cut 9 percent of its workforce, lower capital spending and reduce other costs as demand for luxury goods declines in the tough U.S. economy
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