Category Archives: Economy

Subway overtakes McDonalds as world’s largest

Subway have today claimed that their Chain is now larger than McDonalds worldwide with 33,749 stores versus 32,737 displaying the famous Golden Arches. However it is still safe to say that McDonalds is much larger in terms of revenue with … Continue reading

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UK offers help to bankrupt Ireland

While the UK is not part of the Euro currency, the Finance Chief in the new UK government has announced that the UK is ready to stand up and help it’s “closest neighbor” “We’re going to do what is in … Continue reading

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Nestle posts $10billion profit in 2009

Swiss food giant Nestlé has posted a profit of 10.43 Billion Swiss Francs (almost $10bn) for Fiscal Year 2009 and will raise its dividend by 14.3% to 1.60 francs. The results are ahead of expectations and analysts are now predicting … Continue reading

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Job Cuts at USA-Today

Media organization Gannett Co. is cutting 26 newsroom positions at its flagship USA Today newspaper and a further 11 jobs at USA Weekend magazine. The cuts were revealed yesterday in company memos. USA Today and other Gannett newspapers have already … Continue reading

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USA foreclosures set record in July…again

Home loan defaults continued at a record pace in July despite ongoing programs by government authorities at both federal and state level to avoid foreclosures. Home seizure activity jumped by 7 percent in July from just a month previously and … Continue reading

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Northern Rock loses $1.2bn in first half of 2009

British Bank, Northern Rock, has reported losses of more than $1.2Billion (UK£724 Million) for the first 6 months of 2009. This signals a worsening of the situation for the bank as it shows an increase of 24% over the loss … Continue reading

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PepsiCo to buy PBG and PAS in $6billion bid

Global food company PepsiCo has made an offer to both its Anchor Bottling groups to buy the shares it doesn’t already own. The consolidation proposal would give the company control of 80%  of its North American soft drink distribution. PepsiCo … Continue reading

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