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Category Archives: Danger
Oil below $50 for first time in more than 3 years
Oil prices sank under $50 a barrel in London this afternoon, reaching the lowest levels for three and a half years, as the market reacted to weak energy demand. Brent North Sea crude for delivery in January tumbled to
Posted in Business, Climate Change, Danger, Economy, Politics, Stocks, Travel, United Kingdom, USA
Tagged brent crude oil, brent crude price, brent north sea crude, oil demand, oil price, peak oil, peak oil my ass
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Rolls-Royce to cut 2,000 jobs
Rolls-Royce plans to cut up to 2,000 jobs globally after reviewing the impact of the current economic “uncertainties”, the aerospace giant announced today. Approximately 140 of the job cuts will come in the UK. The firm said it had started … Continue reading
Posted in Business, Danger, Economy, Stocks, United Kingdom
Tagged Rolls, rolls royce, rollsroyce, UK economy, unemployment, unemployment in UK
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McGraw-Hill, Standard & Poor’s and Moody’s to be investigated
In yet another twist in the financial crisis, A U.S. Senate subcommittee is focusing on whether bond-ratings firms, driven by conflicts of interest, boosted mortgage investments which have since collapsed according to an article in this morning’s Wall Street Journal. The … Continue reading
Posted in Business, Danger, Economy, Politics, Stocks, USA
Tagged banking crisis, credit crisis, Credit Crunch, McGraw Hill, Moody's. Moodys, mortgage assets, S&P, Senate's Permanent Subcommittee on Investigation, Standard & Poor's, Standard and Poor's, toxic assets, Wall Street, Wall Street journal, WSJ
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US Inflation down as Consumer prices fall 1% in 1 month
As the US recession bites hard, consumer prices dropped at the fastest rate on record in October and new home construction was at a record low. While the price drop is welcome for consumers in the immediate term, a period of … Continue reading
Posted in Business, Danger, Economy, Politics, USA
Tagged consumer prices, deflation, inflation, US consumer prices, US economy
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Ford to Sell 20% of stake in Mazda
As the cash crisis worsens in Detroit, Ford Motor company announced this morning that they are about to sell a 20% stake in Japan’s Mazda Motor Corp (Mazda). Mazda Chief Executive Hisakazu Imaki, said this morning that it would announce “major-shareholder changes” … Continue reading
Posted in Business, Danger, Economy, Stocks, USA
Tagged automaker cash crisis, automaker crisis, cash crisis, detroit, ford, GM, mazda
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Citigroup-Citibank to announce a 50000 cut in jobs
According to CNBC this morning, Citigroup Inc CEO Vikram Pandit will announce job cuts of up to 50,000 heads. The main points of the announcement
Posted in Business, Danger, Economy, Ireland, Stocks, USA
Tagged Citibank, citibank dublin, Citibank ifsc, Citigroup, citigroup inc, credit crisis, Credit Crunch, financials, IFSC, Pandit, risky assets, toxic assets, unemployment, Vikram Pandit
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US home prices plunge in record fall
Prices of U.S. single-family homes plunged a record 16.6% in August 2008 from a year earlier and plummeted more than 30 percent in Las Vegas and Phoenix according to Standard & Poor’sthis morning. Home prices in 20 major metropolitan areas fell
Posted in Business, Danger, Economy, USA
Tagged home price crash, home prices, house prices, mortgages, property prices, sub prime
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Bank crisis and credit crunch to cost $2.8 trillion according to Bank of England
$2800000000000 that is how much the credit crunch is going to cost the world economy according to the Bankof England. The estimate, contained in a speech by Sir John Gieve, deputy governer of the UK’s sovereign bank is as a result … Continue reading
Credit crisis eases but not going away
TheCEO of Merrill Lynch & Co expects emergency measures by U.S. and international authorities designed to unfreeze lending to succeed, but said more pain awaited the financial sector. Banks will need to
Posted in Business, Danger, Economy, Stocks, USA
Tagged Banks, credit crisis, Credit Crunch, financial markets, Merrill Lynch
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Turmoil on financial markets again
©Reuters – Asian stocks plunged on Friday, with Japan’s Nikkei down more than 10 percent, while the yen and U.S. Treasury debt prices rose, as panic set in after
Posted in Business, Danger, Economy, Politics, Stocks, USA
Tagged armaggedon, Asia, bankruptcy, Banks, Credit Crunch, credit markets, Dow, Dow Jones, Europe, financial crisis, financial markets, Friday's bad news, government, NYSE, stock-markets
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Ireland Government bail out of ALL irish banks.
The Irish banking system effectively collapsed this week following a flood of cash out of the country in the wake of the rejection of the rescue plan for the US banks in Washington on Sunday night only to be resurrected … Continue reading
Posted in Business, Danger, Economy, Ireland, Politics, Stocks
Tagged aib, anglo irish bank, bank of ireland, banking crisis, bankrupt, bankruptcy, Brian Cowen, Brian Lenihan, cash, credit, Credit Crunch, deposits, EBS, EU, Europe, Fianna Fail, Ireland, Irish banks, Irish goverment, money
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Wachovia in rescue talks with citi and wells fargo
Wachovia Corp is in talks with potential buyers, all rivals, to be taken over following a fall of 27% in the U.S. bank’s shares on Friday. The sudden fall was due to concerns about its portfolio of poisonous or toxic mortgage … Continue reading
Posted in Business, Danger, Economy, Stocks, USA
Tagged bailout, banking crisis, bankrupt, bankruptcy, Banks, Citi Bank, citi group, Citibank, Citigroup, corestates, credit, Credit Crunch, Economy, US Banks, US fed, Wachovia, wachovia-citibank, Wells fargo
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USA prohibits free-market
In the latest move towards soviet style economics, US financial watchdogs today acted to
Posted in Business, Danger, Economy, Politics, Stocks, USA
Tagged bankruptcy, Dow Jones, GOP, left wing, left wing GOP, markets, nasdaq, NYSE, prohibition, republicans, S&P, soviet style, stock-markets, US economy, USA, Wall Street
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Is the US fed schizophrenic or hypocritical?
“We won’t save Lehman, but we will save Fannie, Freddie and AIG” ……..that is effectively the official line from the US Federal Reserve. This leaves so many questions:
Posted in Business, Danger, Stocks, USA
Tagged AIG, bankruptcy, Dow Jones, hypocricy, lehman, Lehman Bros, Lehman brothers, Morgan Stanley, NYSE, Wall Street
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Morgan Stanley next to disappear? merger or bust?
As Investment banks all over the world come to terms with the potency of their toxic assets, Morgan Stanley is weighing whether it should remain independent or merge with a retail bank whose assets fall in a more traditional framework. … Continue reading
Posted in Business, Danger, Stocks, USA
Tagged Dow Jones, Investment bank, Morgan Stanley, NYSE, USA, Wall Street
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Stuff going on in the world 