Obama forecasts $1,750bn deficit: The budget would see George W. Bush’s tax cuts for the wealthiest expire by 2011 and introduce new tax increases on families earning $250,000 or more to pay for healthcare expansion.
Grim US data show deepening downturn: New US jobless claims unexpectedly spiked last week, reaching the highest level since 1982 as companies continued cutting jobs.
The worst business loss in UK history: Royal Bank of Scotland came a step closer to full-scale nationalisation today as the bank unveiled a record £24.1 billion loss and plans to raise up to £25.5 billion from the taxpayer.
UK: RBS ex-boss urged to cut pension: Chancellor Alistair Darling told the BBC of the government's approach after it emerged that Sir Fred is drawing a pension of £650,000 a year. Although he is only 50, he is entitled to the payment for life, with a pension pot worth £16m.
2 Money Managers Held in New Wall St. Fraud Case: Their supposed investment prowess lured hundreds of millions of dollars from public pension funds and universities and earned the two lavish trappings of success: stately homes, a stake in the New York Islanders and, for Mr. Greenwood, a horse farm that once belonged to Paul Newman.
Housing Price Decline Accelerates: For the fourth consecutive month, prices declined in all twenty cities in the index
California’s Newly Poor Push Social Services to Brink: In California’s Contra Costa County, 40,000 families are applying for just 350 affordable-housing vouchers. Church-operated pantries are running out of food. Crisis calls have more than doubled in the city of Antioch, where the Family Stress Center occupies the site of a former bank.
McDonald's to charge more in poorer suburbs: McDONALD'S is lifting prices in poorer suburbs where it believes consumers are more likely to accept higher charges without complaint.
Posts
