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AP - Germany's central bank predicted Friday that the country's economy will shrink 0.8 percent next year as the global financial crisis takes its toll, just as parliament gave its final approval to an economic stimulus package that has been criticized as too timid.
AFP - The US economy lost a stunning 533,000 jobs in November and the unemployment rate jumped to a 15-year high of 6.7 percent, the Labor Department said Friday.
Reuters - Employers axed payrolls by a shocking 533,000 in November for the weakest performance in 34 years, government data on Friday showed, as the recession inflicted a mounting toll on the U.S. labor market.
Reuters - China and the United States sparred on Friday over how to handle an economic crisis that has forced central banks around the globe into a series of dramatic interest rate cuts.
AP - Skittish employers slashed 533,000 jobs in November, the most in 34 years, catapulting the unemployment rate to 6.7 percent, dramatic proof the country is careening deeper into recession.
Reuters - With the U.S. economy slogging through a recession, Hollywood expects comedies to rule the box office as moviegoers try to escape their woes.
Reuters - Global sales at BMW, the world's top premium carmaker, plunged by a quarter in November, and Honda backed out of Formula One racing on Friday as the economic downturn exacted a mounting toll on automakers.
AFP - A new wave of job losses and more pain in the unemployed ranks fed anxiety ahead of Friday's monthly jobs report by the US government as Americans faced the fallout of a deepening recession.
AP - The United States and China pledged Friday to work together to tackle global financial turmoil as they wrapped up economic talks but left open whether the high-level dialogue will continue under President-elect Barack Obama.
AFP - China and the United States on Friday ended key economic talks with vows of 20 billion dollars of trade financing to boost commerce amid uncertainty over whether the biannual discussions would continue.
AP - Singapore's economy may shrink for a year and faces slow growth for several more as a global downturn undermines demand for the city-state's exports, Prime Minister Lee Hsien Loong said Friday.
The Christian Science Monitor - Another week, another proposal to shore up plummeting US home values. This time, the US Treasury Department is considering a plan to dramatically push down mortgage rates, which it hopes will stimulate demand for new homes.
Reuters - The United States has made clear progress in steadying its financial system, thanks in part to a $700 billion bailout fund authorized by Congress, but the rehabilitation process still faces many challenges, Treasury Secretary Henry Paulson said on Friday.
Reuters - The United States is not threatened by the fact that China and other countries are big investors in U.S. securities, U.S. Treasury Secretary Henry Paulson said on Friday.
Reuters - Social networking company Facebook is delaying a previously announced plan to let employees sell part of their stocks, due to difficult global economy, the Wall Street Journal said.
AP - Zeinab Chami planned to save money from her part-time job and get a little more from her family. But the 24-year-old graduate student ultimately couldn't round up enough to pay for a trip to Mecca.
Bloomberg - Dec. 5 (Bloomberg) -- Two top U.S. lawmakers warned
Treasury Secretary Henry Paulson that he may not get the second
half of the $700 billion financial rescue fund, joining
Republicans upset with how the program is being managed.
AP - The United States and China will provide $20 billion in loans to finance trade by developing countries amid a global crisis that has battered credit markets, U.S. Treasury Secretary Henry Paulson announced Friday as the two sides wrapped up high-level economic talks.
Reuters - China and the United States pledged on Friday to boost efforts to tackle the turmoil engulfing global markets and to continue high-level cooperation when President-elect Barack Obama takes office.
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Visitors Note:
My Consumer Debt Consolidation Inc. is not licenced to help visitors from NY at this time. As a service to our visitors you can still fill out our form but your request will be handled by American Debt Consolidation Resources.
For more information on their office please click here to visit their site.
Getting home equity bad credit loans are very popular lately. In many cases a person with debt problems may be tempted to...
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