Flu continues to weigh on markets
April 28, 2009 by samsonites · Leave a Comment
Asian shares have fallen in Tuesday trading, following earlier falls on Wall Street, as the swine flu outbreak continues to weigh on global markets.
Japan’s main Nikkei index was down 151 points, or 1.7%, while Hong Kong’s Hang Seng was 162 points, or 1%, lower.
GM to cut total of 21,000 US jobs
April 28, 2009 by samsonites · Leave a Comment
General Motors (GM) is to cut a further 21,000 US jobs this year and phase out its Pontiac brand, as it aims to meet a 1 June deadline to revamp its business.
GM has to complete its restructuring by that date to gain the extra multi-billion dollar government loans it needs to avoid bankruptcy protection.
Innovative means
April 28, 2009 by samsonites · Leave a Comment
BBC correspondent Matthew Price has been travelling across America looking at the effects of the recession on the country. In the last of his reports he talks to businesses in Seattle to find out whether the city might be able to help the US innovate its way out of its economic difficulties.
Do you know how many miles per gallon you get out of your home
Daimler to give up Chrysler stake
April 28, 2009 by samsonites · Leave a Comment
German carmaker Daimler has reached a deal to give up its 19.9% stake in Chrysler, the company has said.
The deal, which will also see Daimler forgive Chrysler’s outstanding loans, marks a definitive separation of the German and US firms, Daimler said.
Treasury is ‘grossly optimistic’
April 28, 2009 by samsonites · Leave a Comment
Some of the Treasury‘s assumptions about the recovery in the financial sector are "grossly optimistic", a financial expert has said.
Martin Weale, director of the National Institute of Economic and Social Research, also voiced concerns about the UK economy’s long-term prospects.
Euro nations told ‘cut deficits’
April 28, 2009 by samsonites · Leave a Comment
The European Union has ordered France, Spain, Ireland and Greece to reduce their budget deficits - the difference between their spending and tax take.
Countries that use the euro are supposed to restrict deficits to 3% of their gross domestic product (GDP).
Pension surprise for high earners
April 28, 2009 by samsonites · Leave a Comment
By Ian Pollock
Personal finance reporter, BBC News
People earning more than £150,000 a year could pay as much as 30% tax on all their employers’ pension contributions, the Treasury says.
The figure has been confirmed for the first time since the plan was mentioned briefly in last week’s Budget.
Fever fears
April 28, 2009 by samsonites · Leave a Comment
By Simon Atkinson
Business reporter, BBC News
Many offices, factories and shops across Mexico opened on Monday morning - but it is going to be far from business as usual.
Workers said they had received few instructions from employers to stay at home.
Malaysia woos foreign investors
April 28, 2009 by samsonites · Leave a Comment
The Malaysian government has eased restrictions on foreign investors wanting to buy into the country’s financial sector.
Limits on stakes foreign owners could take in Malaysian insurance and investment banks have been relaxed.
JJB Sports is thrown a lifeline
April 28, 2009 by samsonites · Leave a Comment
Troubled retailer JJB Sports has secured a vital deal that could save it from administration.
JJB’s landlords and creditors have voted for a company voluntary agreement (CVA) that could secure the company’s future, along with almost 12,000 jobs.
