Category Archives: Stocks

AIG to be bailed out by US Fed again

American International Group Inc (AIG) will receive almost $30bn in additional federal assistance in the fourth chapter in the government rescue of the company. The new cash injection is intended to save the struggling insurers – once the world’s largest … Continue reading

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UK to reduce VAT (Sales tax) to 15%

UK Chancellor of the Exchequer (Treasury Secretary) Alistair Darling is expected to reduce British sales tax or VAT from 17.5% to 15% in a move aimed at stimulating the faltering Uk economy. UK Prime Minister Gordon Brown will try to kickstart … Continue reading

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Google take on Digg

Google have today launched a rating system similar to Digg. when logged into a google account you can now customize your search results so that your favorite results on frequently serached topics can be forced to the top of the serach rankings. … Continue reading

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Citigroup (citibank) to go bust next?

Citigroup Inc lost more than 25% of its market value on Thursday amid growingfears over whether it has enough cash to withstand the billions of dollars of expected losses. The second-largest U.S. bank by assets is looking at its options … Continue reading

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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

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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

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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

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