STRESS: CITI scrambles to raise capital...
As Long As We're Talking About Socialism
By Mark Harris
Ask yourself how democratic it is for the richest 1 percent of Americans to own 43 percent of all stock? Or for this same 1 percent to account for 33 percent of total household wealth, according to the Federal Reserve Bulletin? Is it far-fetched to suggest that class inequality and economic insecurity are permanent hallmarks of life under capitalism? Continue
Japan facing worst economic outlook on record: Japan's economy is expected to shrink 3.3 per cent over the coming year, marking its biggest decline in more than five decades, according to government predictions.
Two-thirds facing a pay cut or freeze: More than two-thirds of British companies plan to cut or freeze their workers' salaries this year, the British Chambers of Commerce said yesterday, as it warned that private sector employers face a desperate battle to survive the recession.
Meltdown losses of '$4 trillion': The International Monetary Fund (IMF) has warned credit crunch losses could reach $4 trillion (£2.75tn), damaging the financial system for years to come.
'Deeper' recession ahead says IMF: The IMF says this represents "by far the deepest post-World War II recession" with an actual decline in output in countries making up 75% of the world economy.
Row with emerging nations threatens IMF's cash call: Russians warn that the IMF must deliver on its power-sharing commitments
GM to slash 21,000 more jobs: General Motors, the US car giant, is to cut 21,000 factory jobs next year, close plants and drop its Pontiac brand as it struggles to remain afloat.
Citi And BoA Must Raise Billions In Extra Capital
Unions Could Own 55% Of Chrysler
US Govt May Take Control Of GM
BofA - Who Pays For Its Collapse?
Some Sacramento Homes Less Than $25,000
20% Of Asia Hedge Funds Closed Since 1-08
Russian Warns IMF That It Must Deliver
IMF Chief - Darling's Figures Over Optimistic
IMF - National Deficits To Stay Sky High
Japan Faces Worst Economic Outlook Ever
Japan's Economy To Shrink 3.3%
Stockmarkets Slide On Swine Flu Fears
Dying GM To Cut 21,000 Jobs - Pontiac Is History
Hollywood Film Production At Standstill
Seven UK Retailers Perish Each Day
Two-Thirds Facing Pay Cut Or Freeze
Abandoned Pets Pay Price Of Recession
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