IMF predicts world recession will deepen: The International Monetary Fund has slashed growth forecasts for every major country and urged governments to take forceful action to ensure the world economy's recovery from a severe recession. GM eyes factory closures as Chapter 11 looms: General Motors is preparing to shut the majority of its US factories for nine weeks over the summer as its chief financial officer (CFO) admitted a bankruptcy filing is "probable U.S. Said to Seek a Chrysler Plan for Bankruptcy: The Treasury Department is directing Chrysler to prepare a Chapter 11 bankruptcy filing as soon as next week, people with direct knowledge of the talks said Thursday. Microsoft sales fall for first time in 23 years: Microsoft Corp. said Thursday that declining PC sales hurt revenue, as the software giant reported quarterly sales that fell for the first time in its 23-year history as a public company. Bank of America 'forced to conceal' Merrill rescue facts: Pressure from Fed and Treasury chiefs to complete purchase of Merrill Lynch despite 'staggering' losses
Saturday, 25 April 2009
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