Ecomomic Crisis
Daily News and Updates

Saturday - February 28, 2009:

  1. California unemployment rate reaches 10.1%
  2. Economy Shrinks at Faster-Than-Expected 6.2% Pace
  3. Financial crisis sparks unrest in Europe
  4. GE slashes quarterly dividend to save $9 billion a year
  5. Japan sinks deeper into recession
  6. Lloyds Unit Posts Huge Loss
  7. Ohio’s jobless rate hits 8.8% in January
  8. Pilgrim's Pride To Idle 3 U.S. Plants, Affecting 3K Employees
  9. Treasury stake in Citi to rise to up to 36%
  10. U.S. economy plummets
  11. U.S. GDP revised to decline of 6.2% in fourth quarter

Friday - February 27, 2009:

  1. Author: President's numbers don't add up
  2. New jobless claims jump unexpectedly to 667,000
  3. GM posts deep loss, auditors may question viability
  4. JP Morgan: WaMu buyout will lead to 12,000 layoffs
  5. New-Home Sales in U.S. Plunge to Record-Low 309,000
  6. Obama budget Mammoth deficits but headed lower
  7. Obama U.S. to survive economic 'day of reckoning'
  8. Rocky Mountain News to close, publish final edition Friday
  9. Royal Bank of Scotland Posts Largest Annual Corporate Loss in British History
  10. Survey finds Wall Street bonuses opposed
  11. US banks could post first quarterly loss since '90
  12. U.S. workers on jobless benefits at record high
  13. Obama sees soaring deficits, pushes big goals

Thursday - February 26, 2009:

  1. The next big financial meltdown

Wednesday - February 25, 2009:

  1. AIG in talks with U.S. government, sees $60 billion loss source
  2. Consumers fret as U.S. home prices fall at record pace
  3. Health spending takes rising share of U.S. economy
  4. Thousands demand dissolution of Thai parliament
  5. U.S. Clears Path to Bank Takeovers
  6. U.S. home prices, German morale wilt
  7. Spending bill stuffed with earmarks

Tuesday - February 24, 2009:

  1. AmEx Offers Some Holders $300 To Pay And Leave
  2. A.I.G. to Seek More Government Aid
  3. Asia Agrees on $120 Billion Currency Pool Amid Crisis
  4. Bank of Israel cuts interest rate to all-time low of 0.75 percent
  5. Taxpayer may get £500bn liability - UK
  6. Commission consults unions, business amid fears of unrest
  7. Dow, S&P 500 tumble to 1997 levels
  8. Factory Protest in the North Threatens to Escalate
  9. GM to temporarily shut down 3 plants in Mexico
  10. Heads of 8 European Countries Pledge Global Finance Changes
  11. Is the American mall dying
  12. Pension warning over Royal Mail privatisation bid - UK
  13. Unemployment Could Hit 9% This Year: NABE
  14. Union: Top Philadelphia papers file for bankruptcy
  15. World's economies tumbling like dominoes

Monday - February 23, 2009:

  1. 20% in Los Angeles County receive public aid
  2. EU heads back financial clampdown
  3. Clinton: US, China leadership key to aid economy
  4. Financial fix? Abolish the Fed, says congressman
  5. Latvia's government collapses
  6. Police warn that Britain faces summer of rage due to recession
  7. Report: Bailed-out bank gives bonus loans
  8. Soros sees no bottom for world financial collapse
  9. U.S. bank stress tests to show capital needs source

Sunday - February 22, 2009:

  1. Huge protest over Irish economy
  2. Bear Market's Bite Could Go Deeper
  3. Congressman Dennis Kucinich
  4. Economic woes trump rights as Clinton visits China
  5. FDIC, regulators shut down Oregon's Silver Falls Bank
  6. Harvard short on cash
  7. Kazakhs demand resignations at rare crisis protest
  8. Morgan Stanley offers $3 billion broker bonuses, Wells none

Saturday - February 21, 2009:

  1. ArcelorMittal Cleveland furnaces could remain down for six months or more
  2. Latvian government resigns as economic recession deepens
  3. Dodd Says Short-Term Bank Takeovers May Be Necessary
  4. German Cabinet Approves Bank Nationalization Plans
  5. GM's Saab says to file for creditor protection
  6. GM's Saab wins creditor protection, seeks savior
  7. How much will you pay for Wall Street bailout
  8. Jumbo Loan Defaults Rise at Fast Pace as Rich Suffer
  9. Nationalization fears pummel BofA, Citi
  10. Hershey Co. closing Peppermint Patty plant in Pa
  11. Roubini Nowhere near end of crisis
  12. Asia, Europe Find Their Supply Chains Yanked. Beware the Backlash.
  13. Swiss bank shares tumble as UBS tax probe widens
  14. Treasury ordered to turn over bailout records
  15. U.S.-China Trade Ties Erode Amid Accusations

Friday - February 20, 2009:

  1. US lawmakers attack bank secrecy
  2. Dow Hits 6-Year Low as Banks Tank
  3. EU mulls action as Ukraine crumble triggers contagion fears for Europe
  4. Food makers try to hold prices as retailers push back
  5. Madoff Loss Spawned in ‘Bargain With Devil’ at Cerberus Bank
  6. New jobless claims hit 627,000, continuing benefits figure sets new record near 5 million
  7. Obama housing plan will have impact in March Bair
  8. Obama throws $75 billion lifeline to homeowners
  9. Roubini warns of 'sovereign' bank failure
  10. Sheriff Man killed wife, son, then himself

Thursday - February 19, 2009:

  1. Fed Downgrades Economic Forecast for This Year
  2. Beleaguered British Banking Giant to Sharply Cut Staff Bonuses
  3. Eastern Europe showing new vulnerability
  4. Germany, France May Face Bailout of Euro Nations
  5. GM, Chrysler Seek Billions More in Aid
  6. GM, Chrysler seek nearly $22 billion more U.S. loans
  7. Media General Announces Employee Furlough Program
  8. Swift, Steep Downturn Crosses Globe
  9. Taiwanese economy slumps into recession
  10. Industrial production, housing starts plunge
  11. U.S. Doubles Fannie, Freddie Aid to $400 Billion
  12. Economy may need more shot in the arm Fed's Evans
  13. Recession will be worst since 1930s -Greenspan
  14. Wave of Bank Nationalizations Could Be Looming
  15. White House Launches to Track Stimulus Spending

Wednesday - February 18, 2009:

  1. GM and Chrysler to shed 50,000 jobs
  2. Dow slips nearly 300 points
  3. Fischer Sinks the Shekel, Pumps up the Dollar
  4. Iceland at the brink of failure
  5. Inflation to fall to lowest in nearly 50 years
  6. Smithfield Foods Says Fiscal 2010 Should Be a ‘Better’ Year
  7. Stocks Tumble as Recession Appears to Worsen
  8. Tech Layoffs Surge to 300,000
  9. Texas Financial Firm Accused of Fraud
  10. Trump Entertainment files for bankruptcy
  11. US Stocks In Broad Decline As DJIA Remains Near November Lows
  12. With no budget, California to cut 20,000 state jobs

Tuesday - February 17, 2009:

  1. Dairy cows head for slaughter as milk prices sour
  2. Government Pension Agency Threatened by Recession
  3. Irish government faces growing fears of debt default
  4. Japan's economy slumps as global gloom spreads
  5. Russia's super-rich down to last few billions as fortunes slip away
  6. White House dampens stimulus expectations

Monday - February 16, 2009:

  1. California lawmakers vote on $41 billion budget plan
  2. Crude oil is getting cheaper so why isn't gas
  3. G7 Leaders Call for Exceptional Measures to Solve Global Crisis
  4. GM, UAW talks resume as deadline looms
  5. Obama to sign stimulus bill Tuesday
  6. Price index drops to 3.3% annual rate
  7. World's richest countries pledge to fix economy

Sunday - February 15, 2009:

  1. Ariz. Federal Credit Union closing 4 branches
  2. Congress OKs $787 billion stimulus bill
  3. Federal obligations exceed world GDP
  4. Four U.S. Banks Seized, Bringing Total for Year to 13
  5. G7 strives to pair crisis response and free trade
  6. British investor in Madoff scheme kills himself
  7. GM considering Chapter 11 filing, new company report
  8. Inflation in Russia may hit 14% in 2009 - finance minister
  9. GOP lawmakers tout projects in the stimulus bill they opposed
  10. Sirius XM Preparing Worst-Case Scenario
  11. Specter: Republicans Support Stimulus, Don't Want 'Fingerprints' On It
  12. Stimulus Plan Sets New Limits on Executive Pay
  13. This week 32,000 jobs hit the chopping block
  14. Trillions? Get ready for quadrillion
  15. PNC pays bonuses to execs after getting TARP money

Saturday - February 14, 2009:

  1. Eurozone economies slow sharply
  2. British Prime Minister Says Bank Bonuses Should Be Reclaimable
  3. Economic Free Fall Accelerates, Data Show
  5. G7 ministers meet on crisis, fret over protectionism
  6. Congress to governors Use it or lose it
  7. Investigation looks into political pressure in bailout distribution
  8. J_P_ Morgan Chase, Citigroup and Bank of America Agree to Foreclosure Freeze
  9. No one home: 1 in 9 housing units vacant
  10. S&P heads to first quarterly earnings loss ever
  11. Toyota Plans Worker Buyouts, North America Pay Freeze
  12. Toyota Takes Further Measures To Reduce North American Production
  13. U.S. Michigan Consumer Sentiment Index Fell to 56.2
  14. Vacant homes delay housing recovery

Friday - February 13, 2009:

  1. Pioneer announces 10,000 job cuts
  2. Congress prepares final vote on stimulus
  3. ETA Press Release: Unemployment Insurance Weekly Claims Report
  4. FBI: Bailout fraud to strain U.S. agencies
  5. Financial crisis: Canada may reduce immigration
  6. Foreclosures push U_S_ home prices to 5-year low
  7. Geithner to urge bold G7 recovery moves US official
  8. Latest Version of Stimulus Bill Hits Elderly Hardest
  9. More Employers Fight Unemployment Benefits
  10. Ongoing jobless claims reach fresh record high
  11. Republicans excluded from stimulus decision
  12. Senator predicts swift action on credit cards
  13. The Chinese are coming, to buy bargain US homes
  14. White House may move to buy mortgages

Thursday - February 12, 2009:

  1. China exports continue to plunge
  2. US banks defend bail-out spending
  3. Big cuts loom for education: 574,000 jobs at risk
  4. Deal announced in race for $789B economic stimulus bill
  5. Global Crisis Takes Toll on China As Exports, Imports Plunge
  6. Governor to lay off workers if no budget deal
  7. N.Y. AG: Merrill Lynch Wasted Funds, Investment Bank Secretly Awarded $3_6B In Bonuses Using Taxpayer Bailout Money, Andrew Cuomo Charges
  8. Sirius XM Satellite Radio Short On Cash to Cover Debt Payment
  9. Stimulus bill shuts out divinity schools for funds
  10. The Economy Even Worse Than Obama Admits
  11. Corporate fraud run amok FBI investigating over 500 cases
  12. U.S. to weigh if more needed for bank bailout Geithner
  13. World stocks fall on skepticism over US bank plan

Wednesday - February 11, 2009:

  1. General Motors cutting 10,000 salaried jobs
  2. Fewer job openings, more layoffs
  3. Over 1.7 mln Russians officially unemployed - ministry
  4. Senate passes Obama's economic recovery plan
  5. US dairy farms in crisis as milk prices turn sour
  6. Senate passes $838 billion stimulus bill
  7. Stocks reject Obama's plans
  8. Wal-Mart Lays Off Workers
  9. U.S. offers $2 trillion bank plan but stocks slump
  10. UBS announces $6.9 billion quarterly loss
  11. WTO Panel Warned of Protectionism Threat

Tuesday - February 10, 2009:

  1. China wants IMF to be tougher with rich states
  2. Dozens of California Senate staffers get little-known pay sweetener
  3. G20 to draft new world economy rules by April summit - Kudrin
  4. Nissan to slash 20,000 jobs, sees annual loss
  5. Refinery cuts sending gas prices up
  6. Stimulus Battle May Signal Tough Sell for Bank Rescue
  7. Stimulus opposition rallying GOP
  8. Warner Brothers to outsource jobs to India

Monday - February 9, 2009:

  1. Adviser: Stimulus battle still on
  2. SC Governor: We’re moving close to ‘a savior-based economy’
  3. Economists Agree Time Is of the Essence for Stimulus
  4. IMF may run out of cash to fight crisis in six months, Strauss-Khan warns
  5. Stimulus will lead to 'disaster,' Republican warns
  6. Swiss banks to announce massive losses
  7. Tough week ahead with stimulus, bailout on tap
  8. Unemployment benefits safety net is fraying
  9. 'Doom' rhetoric seen by some as 'not presidential'

Sunday - February 8, 2009:

  1. Charles Krauthammer - The Fierce Urgency of Pork
  2. Chicago Tribune plans job cuts, salary freeze
  3. Commentary: Stimulate the economy, not government
  4. Fed borrowing could reach $4 trillion
  5. Inhofe Statement on Stimulus Compromise
  6. Obama stimulus plan would boost alternative energy
  7. Stimulus bill far from perfect, Obama says
  8. Regulators close failed banks in Ga., Calif.
  9. S.E. Asia Faces Long-Term Trade Shift
  10. Senate to vote Monday on stimulus bill
  11. SHRM Says Expect Hiring to Hit Deep Freeze in February
  12. Dow Jones costs News Corp $2.8 bln in writedown

Saturday - February 7, 2009:

  1. Chrysler Idling 3 Plants Monday
  2. Congressional pay raise 'ludicrous' during recession
  3. Ex-PM Kasyanov predicts mass Russian protests in summer
  4. Furloughs begin for Calif. state workers
  5. Gordon Brown suggests world heading for a 'depression'
  6. Nations Rush to Establish New Barriers to Trade
  7. Payrolls plunge by 598,000, the most in 34 years
  8. Senators Reach Deal on Stimulus Bill
  9. Sharp Q3 in red, sees first ever annual loss
  10. Stimulus could supply illegals with 300,000 jobs
  11. Toyota losses mount
  12. Treasury hires bankruptcy firms to advise on auto plans
  13. U.S. consumers missing more debt payments
  14. U.S. job losses accelerate
  15. U.S. Senate votes to ban executive bonuses

Friday - February 6, 2009:

  1. Arab unemployment 'highest in world'
  2. Bank of America tumbles on nationalization worries
  3. Bank of England Cuts Main Rate a Half Point to 1%
  4. Bankers under fire in countries besides U.S.
  5. Barack Obama - The Action Americans Need
  6. Deluge Is Holding Up Benefits to Unemployed
  7. Democrats push vote of huge U.S. stimulus plan
  8. Estee Lauder 2Q profit falls, will cut jobs
  9. Factory Orders Fall For Fifth Consecutive Month In December
  10. France's Sarkozy seeks to ease fears on crisis
  11. General Motors Mexico plant to lay off 600 workers
  12. Greek socialists renew call for elections
  13. Job market could be bleak for years
  14. Moody’s: Israeli economy can withstand shock
  15. New jobless claims surge to 26-year high
  16. New Jobless Claims Surge to 626,000
  17. Pier 1 may cut up to 850 jobs
  18. Report: Ohio Lost 262,383 Jobs Since 2000
  19. The City fears Russia's default
  20. Report finds TARP at risk of fraud
  21. Sen. Reid: We’ve got votes on stimulus
  22. Treasury overpaid $78 bn for toxic assets
  23. U.S. Housing Slump Has ‘Just Begun,’ Says Forecaster Talbott
  24. U.S. Treasury in plans for record debt sale
  25. Worker Anger Sees Brown Facing Winter of Discontent

Thursday - February 5, 2009:

  1. U.S. January Job Cuts Triple From Year Earlier, Challenger Says
  2. Asset Guarantees Gain Momentum in U.S. Bank Talks
  3. First quarter layoffs
  4. Support for Stimulus Package Falls to 37%
  5. US credit card delinquencies at record highs

Wednesday - February 4, 2009:

  1. Auto sales hit 27-year low
  2. Buy American plan could cost U.S. jobs study
  3. Chrysler sales plunge 55 pct; GM, Toyota also down
  4. Despite Federal Aid, Many Banks Fail to Revive Lending
  5. Hapoalim expects NIS 250m loss in Q4
  6. Love that economic pain!
  7. Panasonic warns of $4_2 billion loss, to cut 15,000 jobs
  8. Layoffs spike as recession rips through U.S.
  9. Recession rescue intensifies as job losses pile up
  10. Record 19 Million U.S. Homes Stood Vacant in 2008
  11. Utah cuts state workweek

Tuesday - February 3, 2009:

  1. Is It Time to Bail Out of America
  2. More Economists Say Crisis Is Worse Than Great Depression
  3. Bailed Out Bank of America Sponsors Super Bowl Fun Fest
  4. China official says 20 million migrants lost jobs
  5. Fed's Fisher says protectionism equals economic death
  6. Florida, Maryland, Utah Banks Shut as Financial Crisis Deepens
  7. Humana confident in 2009 outlook
  8. Obama Seeks Quick Senate Action on Stimulus Bill
  9. California holds back payments amid budget crisis
  10. The Conference Board Reports Online Job Demand Plunges 506,000 in January
  11. Time for a new world order: PM
  12. Zimbabwe knocks 12 zeroes off inflation-hit dollar

Monday - February 2, 2009:

  1. Bill Gates predicts long downturn
  2. L.A. Times to lay off 300 and Cuts Local News Section
  3. GlaxoSmithKline to slash 6,000 jobs
  4. GOP Stimulus used for permanent changes
  5. Out of Gaps In Treaties, First Salvos Of Trade War
  6. Stiglitz Criticizes Bad Bank Plan as Swapping ‘Cash for Trash’
  7. Violent clashes in Russia as angry protesters call for Putin to resign over economy
  8. Violent unrest rocks China as crisis hits

Sunday - February 1, 2009:

  1. Worst January ever for Dow, S&P 500
  2. Germany Suggests Creation Of UN Economic Council
  3. Governments across Europe tremble as effects of global recession prompt angry people to take to the streets
  4. Japan unveils $17B Asian aid package

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