Russians plan global car empire after GM coup:
Sberbank, the Russian state-owned lender that took a quarter share in GM Europe last week, is to become the financing arm of a new Russian and Eastern European car manufacturing empire. It will be controlled by Oleg Deripaska, the Russian tycoon, and Magna International, the Canadian car parts company.
U.K. Banks to Post $215 Billion Losses, Moody’s Says:
U.K. banks are less than half way through posting 240 billion pounds ($398 billion) of losses on loans and securities, a reflection of the country’s economic weakness, according to Moody’s Investors Service Ltd.
Stiglitz Says Banking Problems Are Now Bigger Than Pre-Lehman :
Joseph Stiglitz, the Nobel Prize- winning economist, said the U.S. has failed to fix the underlying problems of its banking system after the credit crunch and the collapse of Lehman Brothers Holdings Inc.
Majority of Canadian employees living paycheque to paycheque, survey shows:
The survey, released Monday, said 59 per cent of Canadians would have trouble making ends meet if they missed a paycheque.
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