Crisis

The leaders of some of the UK’s largest companies have started a revolt against the third runway at Heathrow, citing “responsible citizenship,” media reports said. An open letter, signed by 13 business leaders, is expected to question the benefits to business of the runway and to call for more exploration into possible alternatives, the...
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America has begun the initial steps to final outsourcing of it’s last dominant industry. As before, a recession is the key to making the move. Even as we speak, the oil/gas and oil/gas services industries, always a US dominated industry, has begun mass layoffs. From Schlumberger to Baker to Halliburton and dozens of smaller...
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U.S. stocks slid to 12-year lows on Monday as a record $61.7 billion loss for AIG and another government bailout for the insurer heightened concerns about the extent of damage to the financial system. * The stocks of companies that have found themselves on the wrong side of President Barack Obama’s proposed budget fell...
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Japan’s No. 3 automaker is set to post a net loss of almost $3 billion in this financial year and needs to trim costs. To survive the current global economic crisis, Nissan Motor needed to shed some excess weight. About 8.5% of its entire work force, 20,000 jobs, will be cut worldwide after the...
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Toyota Motor Corp. said Friday it expects to post an even greater net loss for fiscal 2009 — its first full-year loss since 1950. Blaming world-market conditions, Toyota said Friday it expects to lose 450 billion yen or $5 billion in the current fiscal year — ending in March. Revenue for the third quarter...
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The nation lost 598,000 jobs in January, according to the Bureau of Labor Statistics, and the unemployment rate jumped to 7.6 percent. About 3.6 million jobs have disappeared since the recession began in December 2007 – half of those in the past three months, according to BLS.
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DAVOS, Switzerland — Prime Minister Recep Tayyip Erdogan of Turkey walked off the stage after an angry exchange with the Israeli president, Shimon Peres, during a panel discussion on Gaza at the World Economic Forum on Thursday, and vowed never to return to the annual gathering. Mr. Erdogan apparently became incensed after he was...
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