Ecomomic Crisis
Daily News and Updates


  1. Was this economic crisis planned? (Independent Commentary)

Saturday - January 31, 2009:

  1. Brown warns countries against protectionism
  2. Cuomo eyes return of $4 billion in early Merrill bonuses report
  3. Economic Signs Turn From Grim To Worse
  4. Hitachi warns of $7.8 billion loss, to restructure
  5. NEC to cut 20,000 jobs as losses widen
  6. Recession hits 50 states
  7. Roubini Sees Global Gloom After Davos Vindication
  8. Russian government gives gloomy no-growth forecast for 2009
  9. Treasury Weighs Hard Choices To Save Banks
  10. Why the bank bailouts are doomed
  11. World facing lowest growth since WWII, says IMF report

Frday - January 30, 2009:

  1. Airlines report ‘shocking’ plunge in traffic
  2. AstraZeneca: 15,000 Layoffs Through 2013; Company the “Worst” in Its Class
  3. Bank of England to use £50bn of taxpayers' money to ease credit crunch
  4. Black & Decker to lay off 1,200 after profits fall
  5. Bon-Ton to cut 1,150 jobs
  6. Democrats' stimulus = continued economic decline
  7. Final ruling Schwarzenegger can order two furlough days a month
  8. Stocks sink as unemployment claims reach new high
  9. The Financial Crisis Is Driving Hordes of Americans to Suicide
  10. U.S. to unveil menu of bank fixes next week
  11. US tech sector job cuts hit five-year high

Thursday - January 29, 2009:

  1. AOL axing 700 jobs in cost-cutting move
  2. Bailout is evaporating, not trickling down
  3. Bleeding banks prompt talk of new big U.S. bailout
  4. Boehner to GOP Vote against stimulus - Patrick O'Connor and Jonathan Martin
  5. Boeing to Chop 10,000 Jobs
  6. Britain's economy faces worst year since 1930s, warns IMF
  7. Chairman PPG could cut 4,500 jobs
  8. Fed says prepared to buy debt to aid economy
  9. First quarter layoffs
  10. Ford reports record yearly loss
  11. French strike nationwide over economic crisis
  12. Greek farmers block borders, pressuring the government
  13. Jobless claims hit record peak, orders plummet
  14. Klein says without state help, DOE could lay off 15,000 educators
  15. Labor Department: Freightliner production shifts from Gaston to Mexico
  16. London Underground to axe 1,000 jobs
  17. New bank bailout could cost up to $2 trillion report
  18. New York City fears return to 1970s
  19. Only 5 percent of $819b plan would go toward infrastructure
  20. Policymakers sound alarm over protectionism
  21. Postmaster seeks cut in delivery days
  22. Obama seeks GOP help for recovery bill
  23. Shell swings to $2.81 billion loss in 4Q
  24. Putin, Wen urge new financial order
  25. Russia's largest truck maker suspends production over crisis
  26. Senator Warns White House Will 'Create Crisis' and 'Panic' to Push Stimulus
  27. Starbucks to cut 6,700 jobs, close 300 stores
  28. TCS may call back 20% onsite staff in US
  29. SEC charges adviser with fraud linked to bailout
  30. The Misery Index - MSN Money
  31. UPDATE: Fed Readies Plan To Help Consumers Get More Credit-Card Debt

Wednesday - January 28, 2009:

  1. Fiat boss fears 60,000 job losses
  2. California prepares to stop paying bills
  3. Corning slashes up to 4,900 jobs to cut costs
  4. Fannie to Tap U.S. for as Much as $16 Billion in Aid
  5. Gold pushes above $900 in buying spree
  6. Honda shares rise after news of U.S., Japan output cuts
  7. Michigan city grapples with power shutoffs
  8. Regional and State Employment and Unemployment Summary
  9. Stimulus plan - borrowing from Peter to pay Paul
  10. White House Aims to Defuse Furor Over China's Yuan Policy

Tuesday - January 27, 2009:

  1. Caterpillar Moves to Cut 20,000 Jobs
  2. Despite Write-Down, Barclays Won’t Ask for Bailout
  3. Fed May Gain More Financial Oversight
  4. Finance crisis claims government, 85,000 jobs
  5. Global meltdown snares China
  6. GM Announces More Layoffs,Production Cuts Amid Falling Demand
  7. Home Depot to cut 7,000 jobs, exit Expo business
  8. Interest rate cut to lowest in history
  9. John deere trims 700 workers
  10. Pfizer to buy Wyeth for $68B; cut 8,000 jobs
  11. Philips to trim 6,000 jobs, posts first loss since 2003
  12. Sprint to eliminate 8,000 jobs
  13. U.N. crime chief says drug money flowed into banks
  14. U.S. business climate worst in 27 years
  15. U.S. economy predicted to collapse under socialism

Monday - January 26, 2009:

  1. 17,500 Israelis lose jobs in December 2008
  2. BOI: Israel to enter recession in 2009
  3. More layoffs expected at Starbucks
  4. Crisis meeting called on violent protest across Europe
  5. Democrats try to lower economic expectations
  6. Fed expected to keep rates at record lows
  7. Israel Bank chief set to lower interest rates
  8. Israel Bank predicts downward spiral amid global economic crisis
  9. Protests, resignation pressure Iceland's government (banks and market collapsed)
  10. Fight building over judges redoing mortgages
  11. Ukraine drifting towards default

Sunday - January 25, 2009:

  1. 2009 Bank Failure #3: 1st Centennial Bank, Redlands, CA
  2. British minister condemns bankers' greed
  3. California jobless rate soars
  4. College financial aid system 'in crisis'
  5. Congress wants bailout expansion pricetag
  6. Controversial CBO Report On Stimulus Turns Out Not To Exist
  7. Downturn Accelerates As It Circles The Globe
  8. Global finance crisis deeper than thought
  9. Governors Seek Concessions From Public Workers
  10. Obama to Decide Soon Whether to Add to Bailout
  11. Official says Icelandic gov't could fall this wknd
  12. Recession hits Silicon Valley as layoffs pile up
  13. Senator asks Microsoft about job cuts, visas

Saturday - January 24, 2009:

  1. Britain Officially Slips Into Recession
  2. Anheuser-Busch Inbev Pares Stake in China Brewer
  3. Fannie Mae Laying Off Hundreds
  4. GE profit down 44 percent, CEO stands by dividend
  5. Harley’s profit skids, will cut 1,100 jobs
  6. Obama slams companies for squandering bailout funds
  7. OHSU will cut 500-1,000 jobs, benefits by June
  8. Possible Toyota job cuts as auto crisis rolls
  9. Qimonda, Samsung hit by chip market crash
  10. Republicans agree stimulus to pass in February
  11. Spanish unemployment swells to 3.2 million in 2008
  12. Stimulus Plan Meets More GOP Resistance
  13. U.P.(Union Pacific) sheds 3,150 workers, eyes more
  14. U.S. bailout package will spark inflation and shift the burden to foreign investors CIBC World Markets

Friday - January 23, 2009:

  1. Even Congresswoman Gets the Runaround on Bank Help Lines
  2. Global slump hits Asian economies
  3. Barclays may lose control to Gulf investors
  4. California's median home price falls 38 percent
  5. Diving consumer demand hits technology firms
  6. Grim Data, Tech Woes Drag Down Stocks
  7. House to consider stimulus bill next week Pelosi
  8. Huntsman to cut 1,175 jobs, close UK plant
  9. IBM is cutting jobs; maybe some locally (Poughkeepsie)
  10. Japan’s Exports Plummet Record 35%, Signaling More Job Cuts
  11. Jobless claims soar in latest week
  12. Jobless claims surge and housing starts tumble
  13. Merrill paid bonuses early as BofA deal closed
  14. Microsoft misses, China slows and Japan sees deflation
  15. Oil jumps nearly 7 percent on supply cuts, dollar
  16. Sun lays off 195 Broomfield workers
  17. U.S. home construction ends worst year since 1959
  18. Whitney America's banks need to sell crown jewels
  19. Bridgestone stops making some tires at Tenn_ plant

Thursday - January 22, 2009:

  1. Big gov't spending didn't work in 1930s, won't work now
  2. China's economic growth slows
  3. Did the feds foul B of A
  4. Eastern Europe risks further riots as economic crisis bites
  5. Is it China or a tax cheat who will be running our 'bailout' economy
  6. Latvia saved from bankruptcy by international loan - president
  7. Michigan unemployment rate tops 10 percent, expected to keep rising
  8. Moscow development bank posts 75% drop in net profit for 2008
  9. Intel to shut sites, up to 6,000 jobs hit
  10. Russian tycoon buys London paper for one pound
  11. The Falling Pound Raises Fears of Nationalization
  12. US House of Representatives makes key step in stimulus bill

Wednesday - January 21, 2009:

  1. Dow falls 332 as stocks rain on Obama's parade
  2. House Plan for Infrastructure Disappoints Advocates for Major Projects
  3. Intel slashes processor prices as AMD looms
  4. Is B of A headed for a breakup
  5. Poll results suggest tax cuts won't help stimulate economy
  6. Banks crisis haunts markets as Obama steps up
  7. Warner Bros. to cut 800 jobs as Hollywood down
  8. Report: BofA to cut 4,000 from capital markets unit
  9. Rohm & Haas cutting about 900 jobs

Tuesday - January 20, 2009:

  1. German Banks Face Further Big Losses
  2. Almost all U.S. cities to lose jobs in 2009 forecast
  3. Bailout Is a No-Strings Windfall to Bankers, if Not to Borrowers
  4. Banks Foreclose on Builders With Perfect Records
  5. Brown moves to head off new banking crisis
  6. Brown takes one last roll of the dice - and bank shares plunge
  7. Buffett says in NBC interview that US is in 'economic Pearl Harbor'
  8. Cost of Borrowing Zooms Higher for Corporations
  9. Direct investment drops, U_N_ says
  10. EU Slashes 2009 Economic Outlook
  11. Fiat May Take Up to 35% Equity Stake in Chrysler, FT Says
  12. Real recovery won't be anytime soon
  13. S&P strips Spain of its AAA credit rating
  14. Saudis see up to 45 percent drop in oil demand
  15. Sharp drop in bank shares raises nationalisation fears
  16. Up to $20m at risk as American trader vanishes (A new one from Tennessee)

Monday - January 19, 2009:

  1. Almost all U.S. cities to lose jobs in 2009 forecast
  2. Bailout Is a No-Strings Windfall to Bankers, if Not to Borrowers
  3. Brown moves to head off new banking crisis
  4. For Businesses Big and Small, It's Lights Out
  5. Obama, earnings to call stocks' tune

Sunday - January 18, 2009:

  1. Another Great Depression
  2. Charts Predict: Oil Heading towards $17
  3. Crunch 'cost Arabs $2.5 trillion'
  4. First two bank failures of 2009
  5. Obama team weighs government bank to ease crisis
  6. Report Toyota to halve Japan vehicle output
  7. The Growing Foreclosure Crisis

Saturday - January 17, 2009:

  1. Barclays shares in new collapse as bank crisis enters second phase
  2. Circuit City to Begin Liquidation
  3. Fund manager gone and possibly $350 million with him
  4. GE Capital cutting jobs but won't say how many
  5. Calif. tax refunds to be delayed starting Feb. 1
  6. Report Finds Major U_S_ Companies Have Offshore Tax Havens
  7. A big year looms ahead -- good or bad
  8. Bank of America to receive additional $20 billion
  9. BofA gets new aid amid huge bank losses
  10. Citigroup Reports $8.3 Billion Loss, Splits Into Two
  11. Depression Ahead, Prepare for Stock Rout- SocGen
  12. Honda to halt production in April and May as well as February and March because of falling demand
  13. Inflation slows to half-century low in 2008
  14. Ministers call for EU-wide car industry rescue plan
  15. Saudis see up to 45 percent drop in oil demand
  16. US living standards in jeopardy

Friday - January 16, 2009:

  1. Asian stocks dive on economic woes
  2. Bank Losses Complicate U.S. Rescue
  3. Bank of America nears govt aid, Citigroup shares drop
  4. Chávez reopens oil bids to West as prices plunge
  5. Congress Moves on Stimulus Bill and Bailout Money
  6. Gannett Plans to Furlough Employees for a Week
  7. House to seek $825 billion in economic stimulus
  8. JPMorgan chief says 2009 will be bleak
  9. Kissinger affirms call for 'new world order'
  10. Microsoft mulls job cuts report
  11. Motorola to lay off another 4,000 workers, warns of loss
  12. New jobless claims rise, economy keeps shrinking
  13. Obama's economic plan boosts gov't, slows economy
  14. Senate OKs use of second half of bailout funds
  15. UN predicts zero world growth in 2009
  16. U.S. moves to speed recovery funds, fears slam banks

Thursday - January 15, 2009:

  1. IMF: Global Meltdown Worse Than Expected
  2. Morgan Stanley Pays $2.7 Billion to Citi in Venture
  3. Nortel files for bankruptcy, shares plunge
  4. Oil falls to near $36 on weak US crude demand
  5. Report: Chrysler in talks with Nissan-Renault, Magna
  6. Retail sales dive as holiday spending slumps
  7. Weak Retail Sales Report Sends Markets Plummeting

Wednesday - January 14, 2009:

  1. Sony shares slide on loss reports
  2. China woos U.S. ahead of Obama inauguration
  3. China's exports, imports fall sharply
  4. Forrester sees 2009 tech spending fall
  5. Frank says no planes for TARP recipients
  6. German stimulus plan a mix of investment, tax relief
  7. Goody's lays off most of corporate associates, to file for Chapter 7 Tuesday
  8. Why Latin America is better prepared to ride out slump
  9. NSBA Releases 2008 Year-End Economic Report - Outlook Not Good
  10. Obama vows tighter control over bailout funds
  11. Squabble looms over second half of bailout billions
  12. States facing $80B in budget deficits
  13. Tech firms brace for painful '09
  14. The Conference Board Leading Economic Index (LEI) for the U.K. and Related Composite Indexes for November 2008
  15. US car workers protest at wage cuts

Tuesday - January 13, 2009:

  1. Bank earnings may be frightful
  2. Bush to seek last TARP funds
  3. Citi nears Morgan Stanley brokerage deal
  4. "Motorola laying off throngs"
  5. New Wave of Deals in Banking Industry
  6. Obama seeks remaining $350 billion bailout money
  7. Obama team offers stimulus changes
  8. Oil tumbles below $38 on eve of US earnings season
  9. Pelosi-Backed Loophole for Venture Capitalists Will Damage Middle Class Economy
  10. Radical cheap $1,000 homes
  11. Ring in the new year The party's over for automakers
  12. S. Korea, Japan respond to economic mess
  13. The big China recession
  14. The Chips Are Down: Hotel Casinos to Decline 2.9 Percent
  15. World stocks retreat on US corporate concerns

Monday - January 12, 2009:

  1. The Fed’s Bubble Trouble
  2. Bad Economy May Fuel Hate Groups, Experts Warn
  3. China, America's economic codependent, has hiccups
  4. Obama Says Recession Requires Scaling Back Promises
  5. States ponder early release for prisoners

Sunday - January 11, 2009:

  1. Circuit City Given Go Ahead to Sell Assets
  2. Citi may get at least $2 billion for Smith Barney deal
  3. Economists see longest recession since World War Two
  4. Housing crash creates tax black hole Politics
  5. Mexico's Cemex closes U.S. plant, lays off workers
  6. No crisis for the US dollar -- yet

Saturday - January 10, 2009:

  1. Bank industry slams lawmaker-Citi mortgage deal
  2. Bush, Obama work on bailout funds release
  3. Citigroup supports measure giving courts big say on mortgage reductions
  4. Geithner Preparing Overhaul Of Bailout
  5. Obama stimulus catching Democratic flak
  6. Panel criticizes Treasury use of TARP funds
  7. Job losses hit 2.6 million as layoff pain deepens
  8. Sarkozy, Merkel, Blair call for new capitalism
  9. Retail fallout claims Goody's chain
  10. South Korea automaker files for bankruptcy
  11. U.S. Stocks Drop, Capping Worst Week Since November, on Jobs
  12. UBS closing U.S. clients' offshore accounts
  13. UK interest rates cut to lowest since 1694
  14. World stocks drop as US jobless rate hits 7.2 pct

Friday - January 9, 2009:

  1. Buyers rejoice Manhattan home prices finally fall
  2. Californians battle swamped state phone lines to get jobless benefits
  3. Citigroup sees synchronized global recession in 2009
  4. Citigroup, U_S_ senators in mortgage legislation talks report
  5. Dismal December sales add to retailer woes
  6. European pessimism grows; U.S. jobs, retail slump
  7. Satyam may axe 10,000 employees next month
  8. Walgreen will cut 1,000 management jobs in 2009
  9. U.S. debt is losing its appeal in China
  10. UK Retail Downturn Only Just Begun
  11. Wal-Mart and other U.S. retailers warn after dismal holiday
  12. Without Large-Scale Recovery Package, Economy Could Shut Down, Economists Tell Lawmakers

Thursday - January 8, 2009:

  1. China pushes to ease grim graduate unemployment WORLD
  2. Financial Guru Foresees Tougher Times Ahead
  3. How bad is it? Arizona applies for bank loan...
  4. Republicans urged to abandon socialism, return to 'fiscal responsibility'
  5. Stocks tumble as companies warn of weak results
  6. Texas kills 50-year road building plan after outcry
  7. Dow slumps 245 as economic woes batter stocks
  8. Intel drops sales forecast yet again

Wednesday - January 7, 2009:

  1. Alcoa to Cut 15% of Work Force, Unload Assets
  2. Billionaire Adolf Merckle left 'broken' by credit crunch kills himself
  3. Citgo suspends U.S. heating oil donations
  4. Despite actions, Fed sees downturn lasting
  5. Hard-Hit Families Finally Start Saving, Aggravating Nation's
  6. IBM May Cut Thousands of Jobs, Employee Group Says
  7. NY’s toll-free unemployment hotline crashed
  8. Obama U.S. facing trillion-dollar deficit
  9. Ohio Unemployment Claim Systems Overwhelmed
  10. Real-Estate Executive Found Dead in Apparent Suicide
  11. Saudis set price hike for oil to U.S. and Asia
  12. Tax opponents sue over Calif. budget
  13. The economic 'stimulus'
  14. European data grim, Toyota to halt output in Japan
  15. U.S., European data grim
  16. Utility cutoffs fuel carbon monoxide poisonings
  17. Wealth of U.S. millionaires down 30 percent survey
  18. Why Russia's woes should worry you
  19. Willem Buiter warns of massive dollar collapse - Telegraph

Tuesday - January 6, 2009:

  1. Chrysler sales plummet 53 percent
  2. Fears of food price hike as thousands of Indian truckers strike
  3. Fed, ECB prepare to tackle deflation head-on
  4. Ford's US sales drop 32 percent in December
  5. Investors dump $89B in U.S. securities in historic fire sale
  6. Stocks turn cautious after last week's rally
  7. Toyota's US sales down 37 percent in Dec, 16 percent in 2008
  8. Your tax dollars are going for _ _ _ what?

Monday - January 5, 2009:

    No real news this morning yet.

Sunday - January 4, 2009:

  1. The Economist U.S. In Depression, Not Recession
  2. Treasury to mull Citi-style rescues
  3. Obama Says U.S. Must Act Swiftly to Address Economy
  4. Obama, Pelosi to Discuss Scope of Economic Package
  5. Rainbow Room to close restaurant, citing economy
  6. U.S. Economy: Manufacturing Shrinks as Orders Plunge
  7. U.S. governors seek $1 trillion federal assistance

Saturday - January 3, 2009:

  1. Belarus devalues national currency by 20% vs. dollar from Jan. 2
  2. Bush 'flagrantly' disobeying law in using TARP funds
  3. Factories slash output, jobs around world
  4. Ford sees sharp drop in U.S. sales
  5. Manufacturing index drops to 28-year low
  6. Obama, Congress leaders to meet Monday on economy
  7. U.S. Venture-Backed Liquidity Reaches Lowest Point in 5 Years, Down 58% to $24.1 Billion in 2008
  8. US government seizes control of Citigroup expenses after bail-out

Friday - January 2, 2009:

  1. Bank of America, Wells close mergers as banking transforms
  2. Citigroup Agrees To Limit Exec_ Pay, Bank, Which Received $45B From Fed, Will Eliminate Bonuses, Severance For Top Officers
  3. Microsoft planning big layoffs for January Microsoft
  4. Treasury Opens Door to Aid for Broad Array of Firms, Industries
  5. US stocks suffer worst year since Great Depression
  6. Wall Street's Final '08 Toll $6.9 Trillion Wiped Out

Thursday - January 1, 2009:

  1. AIG seeks change on loan terms report
  2. California readies IOUs -- legislators would be first
  3. GM, GMAC ease lending rules to entice car buyers
  4. Jobless claims dive while mortgage rates ease again
  5. More economic pain seen in 2009, but some hope too
  6. Companies force workers to take unpaid vacation
  7. NADA Statement on GMAC's Announcement to Expand Retail Auto Financing
  8. National City executives to get golden parachutes
  9. Online holiday sales fall 3 percent
  10. Recession Hits Mobile Phone Market, Cell Phone Makers Braced for Decline in Shipments; EIN News Offers Extended Coverage
  11. Restaurant Performance Index Fell to a Record Low in November as Economy Continued to Worsen
  12. Russia's inflation at 13.3% in 2008 - statistics service
  13. Schiff: Government Interference Only Makes The Problem Worse
  14. Top Dell execs leave as PC maker restructures

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