#1 Fresh Live Leads : EST 2006
Reuters - Japan became the latest major economy to fall into recession on Monday with France close behind, and the IMF said it needed at least $100 billion to fight an economic crisis enveloping the world.
Reuters - Lowe’s Companies , the second-largest home improvement retailer, posted a lower quarterly profit on Monday and cut its full-year forecast as the deepening economic crisis led homeowners to put off big-ticket purchases.
Reuters - Leaders of the world’s biggest economies sought on Saturday to settle their remaining differences over an emergency plan to blunt the bite of the worst financial crisis in decades.
Reuters - Treasury Secretary Henry Paulson said on Friday recapitalizing banks is the most effective use of a $700 billion financial bailout war chest, but acknowledged the U.S. reputation is tarnished as a result of the financial crisis that has spread around the world.
Reuters - Sun Microsystems Inc . said on Friday it will cut 5,000 to 6,000 jobs, as the economic crisis compounds the company’s struggles with depressed demand for its high-end business computers.
Reuters - As world leaders headed to Washington for a weekend summit on the global financial crisis, the United States made a pitch for modest reforms instead of the stiffer regulation that some European countries favor.
Reuters - A bid by global leaders to push forward plans this weekend to erect a firewall against future financial crises like the one now threatening the world economy will quickly run into tough political realities that will limit progress.
ATLANTA, GA–(Marketwire - November 13, 2008) - The credit crisis that is dramatically
affecting the commercial real estate industry is the impetus for a new
practice group at Morris, Manning &
Martin, LLP. The Atlanta-based law firm is launching a new Commercial
Real Estate Debt Management Practice, offering legal support and practical
business advice to real estate owners.
“Refinancing simply [...]
Reuters - The United States may need to insure wholesale deposits to ease the credit crisis and restore confidence because the collapse of Lehman Brothers has damaged trust among institutional investors, Barclays said on Thursday.
Reuters - Asian shares fell on Thursday to their lowest this month on uncertainty about the U.S. Treasury’s banking rescue plan and signs the global financial crisis biting deeper in Asia.
Reuters - Best Buy Co Inc , the No. 1 U.S. electronics chain, slashed its profit forecast on Wednesday, the latest sign that the deepening economic crisis may bring a bleak holiday season, sending the company’s shares down 7 percent.
AP - Russia may have to tap into rainy-day reserves of billions of dollars to help state finances weather the economic crisis and declining oil profits, the finance minister said Wednesday.
Reuters - Macy’s Inc reported a quarterly loss on Wednesday as shoppers curbed trips to the mall and avoided all but the most crucial of purchases as the economic crisis deepens, but the department store operator beat Wall Street estimates, sending its shares up 3 percent.
The Department of the Treasury, the Federal Deposit Insurance
Corporation, and the Federal Reserve issued a joint
statement highlighting recent measures taken to bolster the
financial system, making recommendations for financial institutions on
how to navigate the crisis.
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Reuters - A number of deals designed to cure the global financial crisis were in danger of unraveling on Wednesday, with losses mounting at banks and economies showing further signs of serious deterioration.
Reuters - Oil prices tumbled 5 percent to $59 a barrel on Tuesday as the deepening global economic crisis dragged down markets and raised expectations energy demand will slow further.
Reuters - Weak economic readings from China, Japan and Britain and a grim corporate outlook worldwide reinforced fears on Tuesday of a prolonged recession, prompting investors to look to a world leaders’ summit for solutions.
Reuters - Worldwide losses from the credit crisis will total $1.4 trillion, of which only $800 billion have been realized so far, Goldman Sachs U.S. chief economist Jan Hatzis said on Monday.
Federal Reserve Governor Kevin Warsh said the U.S.
financial sector has to be rebuilt, and banks have to
adapt to new credit models for a recovery from the ongoing economic
crisis to take place.
He said in the wake of the crisis, markets have been re-
assessing “virtually every asset.” On a positive note, he said, there are
visible signs of [...]
Reuters - Deutsche Post will spend more than planned and cut an additional 9,500 jobs to turn around its U.S. express business, which has been hit by the global economic crisis and hurt third-quarter earnings.
Reuters - China approved a massive stimulus plan on Sunday worth nearly $600 billion through 2010 to boost domestic demand as part of a global push for measures to soften an expected recession in many countries.
Reuters - Investors get a first glimpse of the likely shape of the new global financial system this week as finance chiefs prepare for a summit of world leaders fighting the worst world financial crisis in 80 years.
Reuters - Hong Kong-based consumer goods exporter Li & Fung Ltd (0494.HK) has imposed a hiring freeze, will lay off some employees and reduce travel and other expenditure due to the global financial crisis.
Some people blame a fair-lending law for the mortgage and global financial crisis. Evidence shows otherwise.
Reuters - Brazil’s president called on Saturday for an overhaul of the global finance system that “collapsed like a house of cards” in the credit crisis and demanded a greater say for emerging economies.
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