UK economy suffers worst annual dip: Britain's economy has suffered its biggest annual decline on record. New US weekly jobless claims jump: The Labor Department said first-time claims for unemployment insurance benefits rose to a seasonally adjusted 554,000 in the week ended July 18 Bankrupt US parts maker Delphi dumps pension obligations: About $6.2 billion in pension liabilities of bankrupt auto parts maker Delphi will be assumed by the Pension Benefit Guaranty Corporation (PBGC), an independent US government agency tasked with protecting private pension plans. Delphi is the largest parts supplier for General Motors, which emerged from bankruptcy on June 20. Morgan Stanley sets aside 72% of revenue to pay bonuses: The US bank's latest results show it is allocating $3.9bn (£2.36bn) for paying out to staff, 72% of its net revenues. How California Could Turn Its IOUs into Dollars: California has over $17 billion on deposit in banks that have refused to honor its IOUs, forcing legislators to accept crippling budget cuts. These austerity measures are unnecessary. If the state were to deposit its money in its own state-owned bank, it could have enough credit to solve its budget crisis with funds to spare.
Sunday, 26 July 2009
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