Sharp Drop in Jobs Adds to Grim Economic Picture
New York Times - WASHINGTON — The worst fears of consumers, investors and Washington officials were confirmed on Friday, as deepening paralysis on Wall Street collided with stark new evidence of falling employment and a likely recession. In a report that was far
Taipei shares open lower on Wall St tumble
Forbes - TAIPEI (XFN-ASIA) - Share prices opened lower after Wall Street fell sharply overnight on worsening credit market problems and a surge in US home foreclosures, dealers said. At 9.04 am, the weighted index was down 82.38 points or 0.95 pct at 8,576.26
Hong Kong shares lower on Wall St fall, China worries; Sun Hung Kai
Forbes - HONG KONG (XFN-ASIA) - Share prices were sharply lower midmorning after Wall Street tumbled overnight amid renewed concerns over credit markets and a spike in US home foreclosures. China stocks were down on worries over possible new credit tightening
Onset of recession adds new fears to White House race
Guardian Unlimited - It prompted a continuation of a sell off on Wall Street. The Dow lost more than 370 points throughout last week. Another measurement of the stock market - Standard and Poor’s 500 stock index - has now got off to its worse begin to a year since 1933.
Hillary sets her sights on three ways to win
Times Online - Karl Rove, former adviser to President George W Bush, observed in The Wall Street Journal: “The interesting intellectual phenomenon is the emergence of the ‘McCainicrats’ – Democrats backing McCain
Whole Foods faces some shareholder dissent at annual meeting
Austin American-Statesman - The annual shareholder meeting of Whole Foods Market Inc., held Monday in Austin, is normally a celebratory affair. But this year the tone could be more somber. The company’s shares, once popular on Wall Street, are trading near their four-year lows
Singapore shares sharply lower at midday as credit woes hit Wall
Forbes - SINGAPORE (Thomson Financial) - Singapore shares were sharply lower at midday on Friday as investors dumped shares after Wall Street’s sharp decline overnight following more bad news from the credit and housing markets. The Dow Jones Industrials slid
Banks face “systemic margin call,” $325 billion hit: JPM
MSN MoneyCentral - NEW YORK (Reuters) - Wall Street banks are facing a “systemic margin call” that may deplete banks of $325 billion of capital due to deteriorating subprime U.S. mortgages, JPMorgan Chase & Co , stated in a report late on Friday. JPMorgan, which sent a
Lat Am nations end crisis with a handshake
Gulf Times - Friday’s outcome confirmed predictions from the Pentagon to Wall Street that the dispute wouldn’t escalate into the first military conflict between countries in the region since Peru and Ecuador fought briefly over their border more than a decade
Carlyle Capital Aims to Halt a Meltdown
Wall Street Journal - Conditions at Carlyle Capital Corp. had become so dire Thursday that Carlyle Group co-founder David Rubenstein raced back to Washington, D.C., that night from a Wall Street confab at the swank Deer Valley, Utah, ski resort. Stepping off his
Profile: Vikram Pandit
Guardian Unlimited - But over the past week, Wall Street has succumbed to seemingly irredeemable pessimism over the prospects of the large firm and the 51-year-old executive’s commitment to making the changes it needs to survive.
Giving Murdoch a run for his money
The Independent - Last summer, when the Bancroft family decided to sell The Wall Street Journal, there were many at the Financial Times who prayed they would not do a deal with Rupert Murdoch. Pairing the prestigious 118-year-old WSJ with News Corporation’s global
Fat-cat failures blame the press
Times On the internet - Fat-cat failures blame the press Wall Street REMEMBER when people used to blame the parents? Or “society”? These days it’s the media what’s to blame.
Mortgage woes, economic worry sink Wall Street
Reuters - NEW YORK (Reuters) - Stocks tumbled on Thursday after a series of fresh jolts to credit markets and lackluster retail sales compounded worries the economy is near recession, driving the benchmark Standard & Poor’s 500 down 2.2 percent to its lowest
Conflict is costing trillions – ‘they can explain the benefits’
The Independent - A review in the Financial Times by Tunku Varadarajan of The Wall Street Journal accuses Stiglitz of having “entered into territory where it is fraudulent to offer up the omniscient exactitude of three trillion”
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