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Job News From: Yahoo! Business

Yahoo! News: Business Sat, 11 Oct 2008 18:01:39 GMT
  • IMF warns of financial meltdown; Europe seeks unity (Reuters)

    A view of the International Monetary and Financial Committee meeting during the annual IMF-World Bank meeting in Washington October 11, 2008. (Yuri Gripas/Reuters)Reuters - The IMF warned on Saturday that the global financial system was on the brink of meltdown, while France and Germany pushed ahead with a pan-European crisis response to try to prevent the worst global downturn in decades.


  • Sarkozy, Merkel prepare European crisis plan (Reuters)

    France's President Nicolas Sarkozy (L) speaks with Germany's Chancellor Angela Merkel as they arrive at the Charles de Gaulle Memorial for its inauguration in Colombey Les Deux Eglises, eastern France, October 11, 2008. (Remy de la Mauviniere/Pool/Reuters)Reuters - French President Nicolas Sarkozy and German Chancellor Angela Merkel paved the way on Saturday for European measures to tackle the global financial crisis but revealed little about their plans.


  • GM, Chrysler in merger talks: source (Reuters)

    General Motors Corp Headquarters is seen along the Detroit River in Detroit, Michigan September 17, 2008. (Rebecca Cook/Reuters)Reuters - General Motors has had talks with smaller rival Chrysler LLC about a merger that would combine the No. 1 and No. 3 American automakers at a time when both are struggling to cut costs and shore up cash, according to a source briefed on the matter.


  • Paulson warns emerging markets not immune to turmoil (Reuters)

    U.S. Treasury Secretary Henry Paulson gestures during his news conference after the G7 Ministerial meeting in Washington October 10, 2008. (Yuri Gripas/Reuters)Reuters - Treasury Secretary Henry Paulson said on Saturday that emerging market countries are not immune to the most serious global economic risks in recent memory and must be careful in their policy choices.


  • Ford plans to sell Mazda shares: source (Reuters) Reuters - Ford Motor Co is considering selling its stake in Japan's Mazda Motor Co (7261.T), a source familiar with the matter said on Saturday, as debt-laden U.S. automakers struggle with weakening auto sales and the global credit crunch.
  • G7 pledges urgent, decisive action as markets reel (Reuters)

    G7 finance ministers Christine Lagarde of France (L-R), Peer Steinbrueck of Germany, U.S. Treasury Secretary Henry Paulson and Italy's Economy Minister Giulio Tremonti pose for a group photo after their meeting at the Treasury Department in Washington October 10, 2008. (Yuri Gripas/Reuters)Reuters - Finance chiefs of the world's major economies pledged on Friday to take decisive action and work together to stem the escalating financial crisis after another day of gut-wrenching drops on world markets.


  • Money-market funds flock to guarantee program (AP) AP - Nearly all the $3.4 trillion in money-market mutual funds is expected to be federally guaranteed for at least the next three months, now that all the major fund providers signed up to participate by a deadline that passed Wednesday.
  • Apparel chains report dismal September sales (AP)

    In this Aug. 12, 2008 file photo, shoppers walk in front of a Abercrombie & Fitch store in San Jose, Calif. Teen apparel retailer Abercrombie & Fitch Co. said Thursday, Oct. 9, 2008, that its September same-store sales dropped 14 percent, more than quadruple the drop Wall Street expected. (AP Photo/Paul Sakuma, file)AP - Dismal September sales results from mall-based apparel chains, released Thursday, offered more fresh evidence that American consumers, spooked by the financial meltdown, shut their wallets tight last month.



Job News From: NPR

NPR Topics: Business Sat, 11 Oct 2008 17:56:00 -0400
  • Sales Of Home Safes Climb Amid Financial TurmoilAbout the same time Lehman Brothers filed for bankruptcy and the stock market began plummeting, one of the nation's leading sellers of safes started to see a sales boost. The company's CEO says he thinks the increase is due to people losing faith in banks.
  • G-7 Leaders: We'll Tackle Crisis TogetherFinance ministers from around the world tried to show they are working in a coordinated way to tackle a global financial crisis that has proved to be far more serious than anyone anticipated.
  • World Powers Meet To Combat Credit CrisisPresident Bush was short of specifics in his brief statement after Saturday morning's meeting. Will the meeting itself be enough to calm the worldwide markets after the weekend, or will the finance ministers have to offer a concrete plan to stabilize the world's financial systems?
  • Will The Week's Events Stop The Market Slide?How can G-7 leaders or the five-point plan solve the financial crisis? Scott Simon discusses this week's economic news with NPR's John Ydstie.
  • Fear Drives Wild Trading Ahead Of G-7 MeetingFor the first time ever, the Dow Jones industrial index traded in a 1,000-point range on Friday. The Dow ended its day of wild swings down 128 points, to close at 8,451.19.
  • Fears Grow That Tight Credit Could Crush GM, FordStandard & Poor's downgraded the credit of General Motors and Ford Motor Co. and their financing arms this week. Many fear the automakers lack enough cash to sustain their business during this downturn, and that if they falter, it could have widespread repercussions on the U.S. economy.
  • Paulson OKs Bank Stock Purchase PlanTreasury Secretary Henry Paulson has said the government will go ahead with a plan to buy stocks in financial institutions. Meanwhile, The Group of Seven industrialized nations agreed to work together to fix the global economy.
  • Markets Fall Amid Credit WoesMarkets have fallen despite President Bush saying the U.S. is using a "wide range of tools" to address the chaos in the financial markets. Many finance-watchers blame tight credit markets for the trouble. Banks are not lending to on another.
  • Bush Tries To Reassure Nation On EconomyPresident Bush has said the U.S. is using a "wide range of tools" to address the chaos in the financial markets. The stock market, however, has continued its downward slide. Many finance-watchers say the credit markets are to blame. Banks are simply not lending money to one another.
  • G-7 Ministers Meet To Plan Financial RecoveryCentral bankers and finance ministers from the Group of Seven industrialized nations are meeting with President Bush Friday and Saturday. They are looking at ways to restore order to financial markets and avert a lengthy recession.
  • Amid Turmoil, Credit Markets Remain TightThe measure of the markets that makes policymakers most nervous is the availability of credit. Will Aston-Reese, vice president for money-market sales at Tradition Asiel Securities, says watching the credit markets over the past few weeks has been akin to watching paint dry.
  • On Wild Day, Dow Rallies In Final MinutesThe markets have had a wild ride, with the Dow Jones industrial average falling more than 700 points at one stage before closing down 128 points. More than once, the Dow fell below 8,000 points. Roben Farzad, senior writer for BusinessWeek, says fear has gotten the best of everyone.
  • Amid Financial Woes, Business Schools AdaptTeachers and professors across the nation are using the financial crisis as a lesson for their students. A class on global economics in the MBA program at Thunderbird School of Global Management in Phoenix examines the downturn.
  • Portland, Ore., High School Eyes Money CrisisAt Lake Oswego High School outside of Portland, Ore., Gerrit Koepping brings current events into the classroom every day. High school students at Koeppings' U.S. government classes are learning from the current economic crisis.
  • As Economy Reels, Automakers Feel The PainThe stock prices for Ford and General Motors have taken a beating this week and there are new concerns that the companies might not survive the economic downturn. The companies have spent three years undergoing massive restructuring and cost cuts.