Business & Economy

Car Company Gets U.S. Loan, Builds Cars In Finland

With the approval of the Obama administration, an electric car company that received a $529 million federal government loan guarantee is assembling its first line of cars in Finland, saying it could not find a facility in the United States capable...

EU Debt Talks Stalled Over Bailout Fund: Sarkozy

Plans to tackle the euro zone debt crisis have stalled with Paris and Berlin at odds over how to increase the firepower of the region's bailout fund, French President Nicolas Sarkozy said on Wednesday.


A Long, Steep Drop for Americans' Standard of Living

Think life is not as good as it used to be, at least in terms of your wallet? You'd be right about that. The standard of living for Americans has fallen longer and more steeply over the past three years than at any time since the US government beg...

New China Life eyes approvals for $4 bln IPO next week-IFR

Fiona Lau, Soo Ai Peng Reuters 18.10.2011
New China Life eyes approvals for $4 bln IPO next week-IFR

New China Life, the country's third-biggest life insurer, aims to seek regulatory approvals for its potential $4 billion initial public offering in Hong Kong and Shanghai next week, Thomson Reuters publication IFR reported on Tuesday, citing a sou...


Asian economy set to beat US, says report

Justin Harper Telegraph 18.10.2011
Asian economy set to beat US, says report

A fascinating report into how Asia could look in 2020 shows just how important the region is becoming in terms of economies, population and wealth.

Moody's warns France on possible negative outlook

Walter Brandimarte Reuters 18.10.2011
Moody's warns France on possible negative outlook

Moody's warned on Monday it may slap a negative outlook on France's Aaa credit rating in the next three months if the costs for helping to bail out banks and other euro zone members stretch its budget too much.


IMF resources adequate: Lagarde

Breitbart.com 18.10.2011
IMF resources adequate: Lagarde

IMF chief Christine Lagarde said Monday the fund had adequate resources to deal with the debt crisis affecting the world economy.

Berlin tempers summit hopes, banks under pressure

Matthias Inverardi Reuters 18.10.2011
Berlin tempers summit hopes, banks under pressure

Germany said on Monday that a summit of EU leaders next Sunday would not produce a miracle cure for the euro zone's sovereign debt crisis, a warning that pushed down markets after a rise in the past week on expectations of a breakthrough.


South Carolina mine sparks mini-gold rush to the Southeast

A Canadian mining company and a tiny South Carolina town are leading what could be a modern gold rush to the southeastern United States.

US to Play 'Very Major Role' In Helping Europe: Geithner

The U.S. plans on being an active partner as efforts intensify to get Europe get back on its feet financially, Treasury Secretary Timothy Geithner told CNBC Friday.


Detroit Holds Ex-Cons-Only Jobs Fair

Greg Wilson NBC Chicago 16.10.2011
Detroit Holds Ex-Cons-Only Jobs Fair

The city of Detroit has high unemployment, and no one has a tougher time finding work than an ex-con.

Gucci workers 'tortured' during shifts

Jonathan Russell Telegraph 16.10.2011
Gucci workers 'tortured' during shifts

Employees of luxury goods manufacturer Gucci were subject to "torture", being made to stand for 14 hours a day, pay for goods stolen by customers and being forced to ask for toilet breaks.


New book says General Motors wanted to merge with Ford

Angela Wittrock MLive.com 13.10.2011
New book says General Motors wanted to merge with Ford

A new book chronicling the financial collapse of General Motors and Chrysler in 2008 reveals new details about just how desperate the situation was for the giants of the automobile industry.

AOL CEO pitches investors on Yahoo deal: sources

Nadia Damouni and Jennifer Saba Reuters 13.10.2011
AOL CEO pitches investors on Yahoo deal: sources

AOL Inc CEO Tim Armstrong has been meeting with top shareholders in the past couple of weeks to push the idea of a sale to Yahoo Inc that could wring up to $1.5 billion of cost savings, according to sources with knowledge of the discussions.


JP Morgan appoints David Koh to dual roles in China

Jonathan Barlow FinanceAsia 12.10.2011
David Koh joins J.P. Morgan

J.P. Morgan has appointed veteran transaction and corporate banker David Koh as its new head of treasury and securities services (TSS) China and as head of treasury services (TS) Greater China, effective immediately. Beijing-based Koh reports regi...

Slovakia votes down eurozone bailout expansion plans

Slovakia's parliament has voted against measures to bolster the powers of the eurozone bailout fund, seen as vital in combating the bloc's debt crisis.


German push for Greek default risks EMU-wide 'snowball'

Ambrose Evans-Pritchard Telegraph 11.10.2011
German push for Greek default risks EMU-wide 'snowball'

Germany is pushing behind the scenes for a "hard" default in Greece with losses of up to 60pc for banks and pension funds, risking a chain-reaction across southern Europe unless credible defences are established first.

Inmates could staff fire stations in Georgia county

Officials in southeast Georgia are considering a money-saving program that would put inmates in fire stations. The program would put two inmates in each of three existing firehouses in Camden County.


Berlin, Paris vow new crisis plan as global pressure builds

The leaders of Germany and France have promised to unveil new measures to solve the euro zone's debt crisis by the end of the month, as international pressure builds for bold steps from Europe to avert an economic backlash of global proportions.

Italy, Spain Ratings Cut by Fitch; Belgium Is Put Under Review by Moody’s

Lorenzo Totaro and Emma Ross-Thomas Bloomberg.com 08.10.2011
Italy, Spain Ratings Cut by Fitch; Belgium Is Put Under Review by Moody’s

Fitch Ratings downgraded Italy and Spain on concern they will struggle to improve their finances as Europe’s debt crisis intensifies, while Moody’s Investors Service put Belgium on review for a possible cut.



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