GM and Ford suspend Russian plants: General Motors and Ford, the US car manufacturers, have suspended operations on their production lines in Russia. Citi raises rates on millions of credit cards: report: Citigroup Inc has increased interest rates on up to 15 million U.S. credit card accounts just months before curbs on such rises come into effect, the Financial Times reported citing people close to the situation. California budget crisis deepens: John Chiang, state controller, could now issue “IOU”-style notes by Thursday to the state's vendors, local agencies overseeing health programmes and recipients of state aid - including the elderly, the disabled and college students. Hotel Loan Defaults Double as Recession Cuts Travel: As many as one in five U.S. hotel loans may default through 2010 as the recession means companies are spending less on travel and perks, according to University of California economist Kenneth Rosen. Gannett Laying Off 1,000 as Ad Sales Slide: Gannett, which owns top-selling newspaper USA Today, is laying off more than 1,000 staff to try and combat persistent declines in revenue, the Wall Street Journal reported on Tuesday. Goldman Sachs The Fourth Branch of the U.S. Government: Best Financial Markets Analysis ArticleQuietly and almost unnoticed by most Americans, the US Federal Government introduced a fourth branch to its political structure in 2006.
Thursday, 2 July 2009
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