Friday, May 01, 2009

More economic issues

World Stock Rally Strongest Since 1991...
Stress-Test Results Are Delayed by Fed as Examiners, Banks Debate Findings...

.S. Commerce Department: U.S. economy worst in 50 years: It's official. The United States is mired in its worst economic downturn in half a century, the U.S. Commerce Department reported Wednesday. Data released by the department show that the U.S. economy shrank by 6.1 percent during the first three months of the year – a full percentage point worse than what analysts polled by Thomson Reuters had been predicting.

Chrysler to File for Bankruptcy: U.S. officials had offered Chrysler's secured lenders $2.25 billion in cash if they would agree to writedown the $6.9 billion in secured debt that the company owed. But a small group of hedge funds refused the 11th-hour deal, forcing an imminent bankruptcy.

U.S. March Consumer Spending Fell More Than Forecast: Purchases decreased 0.2 percent after a 0.4 percent gain in February that was larger than previously estimated, the Commerce Department said today in Washington. Incomes fell for the fifth time in the last six months.

Germany Shrinks 6% - E-Zone Bank Deposits Dive

Europe's Age Crisis Begins To Bite

Bank Of Japan Slashes Forecasts

New Zealand Cuts Rates To 2.5%

Brazil Cuts Rates By 1%

Gold Falls Under Very Large Sell Orders

UK Recession Could Spark Riots, Civil Disorder

London Bankers Due For £7B In Bonuses

UK Wages Fall Fastest In 60 Years

UK House Price /Gold Ratio - Bricks Vs Bars

Charities Forced To Chop 1,000s Of Jobs

Congress Approves $3.4 Trillion Budget

Google World's First $100 Billion Brand

Bank Of America Boss Ousted

US Still In Deep Recession

Chrysler Talks Break Down - Bankruptcy Looms

Swine Flu Deflation

Germany's Woes Spark Talk Of Weimar

Citigroup Scrambles To Try To Raise Capital

Bank Of England Tells Lenders To Stay Cautious

Shell Profits Dive 58% In 1Q

Citi And BoA Must Raise Billions In Extra Capital

Unions Could Own 55% Of Chrysler

US Govt May Take Control Of GM

BP Profits Slump 62%

BofA - Who Pays For Its Collapse?

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