Tag Archives: bankruptcy

Ireland Economy in free-fall, GNP falls 5%, is collapse looming?

While the global economy is enduring some of the greatest uncertainty in almost a century, the economy of the Republic of Ireland has been among the worst affected. The Irish Government today announced that the economy contracted by 5% up … 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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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

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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

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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

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Warren Buffett to take major stake in Goldman Sachs?

Reports this morning suggest that Warren Buffett is to take a $5billion stake in Goldman Sachs Group Inc. The world’s most famous investor will invest $5bn in a major boost for the Wall street bank. This is seen as

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USA prohibits free-market

In the latest move towards soviet style economics, US financial watchdogs today acted to

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