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Saturday, November 22nd, 2008

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Related Debt News for our Deepwater NJ visitors



Philips says to cut 1,600 healthcare jobs (Reuters)
Reuters - Dutch Philips Electronics will lay-off 5 percent of its workforce at its Healthcare division as part of an accelerated cost-savings push sparked by the global economic slowdown.
 
Report: Soros says more needed for US bailout (AP)
AP - American investor George Soros said he would like to see Washington put $300 to $600 billion more into the $700 billion U.S. economic bailout package, the German magazine Der Spiegel reported in an advance of Monday's edition.
 
Bush: Crisis recovery 'is going to take time' (AFP)

US President George W. Bush has assured Asia-Pacific leaders coping with the global economic crisis that recovering from the meltdown AFP - US President George W. Bush on Saturday assured Asia-Pacific leaders coping with the global economic crisis that recovering from the meltdown "is going to take time, but we'll recvover."


 
Obama says drafting bold economic stimulus (Reuters)

President-elect Barack Obama smiles as he goes to pay his bill at Manny's Coffee Shop and Deli in Chicago, Illinois November 21, 2008. (Frank Polich/Reuters)Reuters - President-elect Barack Obama said on Saturday that he was crafting an aggressive two-year stimulus plan to revive the troubled economy, warning that swift action was needed to prevent a deep slump and a spiral of falling prices.


 
Daimler eyes cuts as car industry struggles (Reuters)
Reuters - Daimler (DAIGn.DE) is eyeing further cost cuts, the maker of Mercedes cars confirmed on Saturday as a global economic slump squeezes sales.
 
Obama says long haul ahead (Reuters)

President-elect Barack Obama waves as he leaves his first press conference following his election victory in Chicago, in this file photo from November 7, 2008. (Carlos Barria/Reuters)Reuters - President-elect Barack Obama said on Saturday he was crafting a two-year plan to fight an economic crisis of "historic proportions" and Chinese leader Hu Jintao said his country was ready to play a big role in the global effort.


 
Obama economic plan aims for 2.5M new jobs by 2011 (AP)

President-elect Barack Obama and his adviser Valerie Jarrett decide on lunch during a stop at Manny's Coffee Shop and Deli in Chicago, Friday, Nov. 21, 2008. (AP Photo/Charles Dharapak)AP - President-elect Barack Obama promoted an economic plan Saturday he said would create 2.5 million jobs by rebuilding roads and bridges and modernizing schools while developing alternative energy sources and more efficient cars.


 
Hu signals ambitious China role in fighting crisis (Reuters)

South Korea's President Lee Myung-bak (C) and his wife Kim Yoon-ok arrive at the airport in Lima November 20, 2008. Myung-bak was in Peru to attend the Asia-Pacific Economic Cooperation (APEC) summit. (Enrique Castro Mendivil/Reuters)Reuters - Chinese President Hu Jintao spelled out Friday a potentially ambitious role for his country in staving off a deep global recession as he and U.S. President George W. Bush prepared for a weekend summit of leaders from Asia and the Americas.


 
Obama orders plan to create 2.5 million new jobs by 2011 (AFP)

File photo of New York central banker Timothy Geithner in 2006 who is tipped to be treasury secretary in the new Barack Obama administration.(AFP/File/Mike Clarke)AFP - US president-elect Barack Obama announced Saturday that he had ordered his economic advisers to produce an economic recovery plan to create 2.5 million new jobs over the next two years.


 
IMF economist says worst of crisis to come: paper (Reuters)
Reuters - The financial crisis that has engulfed many top banks is spiraling into a broader economic crisis that has yet to peak, International Monetary Fund's top economist Olivier Blanchard told a Swiss newspaper on Saturday.
 
Soros says U.S. needs billions more in aid measures (Reuters)
Reuters - The U.S. economy needs additional support measures of between $300 billion and $600 billion to help it withstand the financial crisis, U.S. billionaire investor George Soros was quoted as saying by a German weekly.
 
China, Russia bid Bush farewell at trade summit (AFP)

Protesters demonstrate against the arrival of US President George W. Bush in Lima. Leaders from Pacific rim nations are set to meet to chart ways to boost trade despite turmoil in the global economy, as aspiring powers China and Russia bid farewell to Bush.(AFP/Sengo Perez)AFP - Leaders of the Pacific rim are set to meet to chart ways to boost trade despite turmoil in the global economy, as aspiring powers China and Russia bid farewell to US President George W. Bush.


 
Mexican growth slows to 1.6 pct, lowest since 2003 (AP)
AP - Mexico says its yearly growth rate dropped to 1.6 percent in the third quarter, its slowest rate since 2003, as the U.S. economy stalls.
 
Obama moves quickly to fill Cabinet positions (AP)

Barack Obama (R) and Hillary Clinton address supporters during a rally in Orlando, Florida in October 2008. Intense speculation flared Friday over reports that president-elect Barack Obama is weighing whether to name former Democratic primary rival Hillary Clinton as a heavy-hitting secretary of state.(AFP/File/Emmanuel Dunand)AP - President-elect Barack Obama has moved with unusual speed to select officials for his administration, and senior Democratic officials say he intends to name Timothy Geithner as his treasury secretary as soon as Monday.


 
Obama readies economic team as global recession fears rise (AFP)

An everything-must-go sign in Coral Gables, Florida. The economic team of US president-elect Barack Obama came into view as fears mounted on the global financial crisis and more mass job cuts loomed worldwide(AFP/Getty Images/Joe Raedle)AFP - The economic team of US president-elect Barack Obama came into view as fears mounted on the global financial crisis and more mass job cuts loomed worldwide.


 
Citigroup talking to govt about options: source (Reuters)
Reuters - Citigroup Inc has been talking in recent days to the U.S. Treasury Department and the Federal Reserve about its options as its share price sinks, a person familiar with the matter said.
 
'Nostalgic' Bush meets with China's Hu (AFP)

A view of the Asia-Pacific Economic Cooperation (APEC) ministerial meeting in Lima. Chinese President Hu Jintao thanked US President George W. Bush on Friday for improving Sino-US ties and said he hoped Barack Obama will follow suit upon taking office January 20, a Chinese official said.(AFP/Rodrigo Arangua)AFP - US President George W. Bush and Chinese President Hu Jintao on Friday discussed the global economic crisis and efforts to speed the process of ending North Korea's nuclear programs, the White House said.


 
Two Broadway shows join growing list of casualties (Reuters)
Reuters - Two more Broadway shows fell by the wayside this week but the head of an industry trade association said it was part of natural selection in a tough business rather than the result of the economic crisis.
 
Variety shows could return some spice to TV life (Reuters)

In this April 24, 2008 file photo, Rosie O'Donnell arrives at the premiere of the documentary film 'I Am Because We Are' in New York. (AP Photo/Peter Kramer, file)Reuters - Three top U.S. comedians next week will bring variety shows to television and one, Rosie O'Donnell, believes the format could stage a comeback amid the slumping economy if families start gathering around TVs for cheap entertainment.


 
Obama may consider Summers as Fed chief: Democrat (Reuters)

Former Treasury Secretary Lawrence Summers (L) and Timothy Geithner, president of the Federal Reserve Bank of New York, in a composite image. (Files/Reuters)Reuters - U.S. President-elect Barack Obama may consider Lawrence Summers as a successor to Federal Reserve Chairman Ben Bernanke, whose term expires in January 2010, a Democratic source told Reuters on Friday.


 

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