Ecomomic Crisis
Daily News and Updates

Wednesday - June 30, 2010:

  1. Consumer Confidence Collapses Massively In June
  2. Dow drops 268 on global recovery worries
  3. US Stocks Tumble As Investors Flee To Safety; DJIA Off 242
  4. California Cities Shutting Police Forces to Close Budget Gaps
  5. Budget cuts will hit police numbers, warns Hugh Orde (UK news)
  6. Closing the Government cheque book- No more bailouts for the car industry says Vince Cable (UK news)
  7. Greek anger over austerity measures spills on to Athens streets
  8. Police chief 's cutbacks blunder: Sir Hugh Orde lets slip scale of staff cuts on the way (UK news)
  9. Robert Peston leads BBC staff revolt against overhaul of gold-plated pension scheme
  10. Russia's Medvedev says time to sell state property
  11. Top Republican: Raise Social Security's retirement age to 70
  12. Wall Street Hiring Jumps as Guaranteed Bonuses Return
  13. Will public sector pensions face axe? Review warns retirement funds may not be 'immune' from the cuts

Tuesday - June 29, 2010:

  1. Banks told to hoard up to £130bn in case of crisis
  2. Tougher budget sanctions to cover all EU funds
  3. G20 offers no big boost for fearful markets
  4. Students face closure of alternative schools because of L.A. County budget cuts
  5. Unemployment in Israel is Dropping, More Jobs Found

Monday - June 28, 2010:

  1. President Obama urges G-20 nations to spend; they pledge to halve deficits

Sunday - June 27, 2010:

  1. Detroit parks may close in budget battle
  2. Strangled by government
  3. G8 leaders criticize Iran, condemn Cheonan sinking
  4. G20 summit Rifts in Toronto as US warns EU of double-dip recession risk

Saturday - June 26, 2010:

  1. Families on the brink of 'insolvency crisis' after decade-long credit card binge
  2. House, Senate lawmakers finalize deal on bank bill
  3. NYC to cut 2,000 jobs, mostly by attrition
  4. Oakland votes to lay off 80 police officers
  5. Pace of U.S. economic growth revised down
  6. U.S. mortgage rates shrink to lowest point since mid-1950s

Friday - June 25, 2010:

  1. Calif. state workers face wage cuts
  2. French Strike Over Plans to Raise Retirement Age

Thursday - June 24, 2010:

  1. Budget cuts have unintended consequences
  2. Infrastructure Spending Needed to Overcome 'Massive Deficit'
  3. European Central Bank faces threat to euro and unity
  4. Soros says Germany could cause euro collapse
  5. Maywood to lay off all city employees, dismantle Police Department
  6. Sales of new homes in May hit record low
  7. Whitehall spending to be slashed by up to a THIRD: Experts reveal true scale of Osborne's 'bloodbath' Budget

Wednesday - June 23, 2010:

  1. UK BUDGET 2010: Bailed-out banks to be hit with new levy
  2. UK Budget 2010 VAT to rise to 20% as Osborne seeks to balance books by 2015

Tuesday - June 22, 2010:

  1. CHINA: Yuan jumps 0.43 per cent to five-year high
  2. Fannie and Freddie tab is $146B and rising
  3. Gold at record after Saudi reserves double
  4. Harrisburg, Pa., other cities overwhelmed by economic downturn and debt
  5. More borrowers in trouble despite federal help
  6. The bank failure recovery

Monday - June 21, 2010:

  1. George Osborne says emergency budget cuts will be 'tough but fair'
  2. New Jersey battles over tax on millionaires
  3. Russia, France to jointly analyze reasons for financial crisis

Sunday - June 20, 2010:

  1. In budget crisis, states rein in pensions
  2. Europe to urge exit from stimulus schemes at G20 Merkel
  3. Airport charges set to soar in the hardest-hitting Budget in 30 years: UK
  4. Capital gains tax rise will 'end up losing the Treasury £2.5bn': UK
  5. Russian Railways needs over $800 million in state subsidies

Saturday - June 19, 2010:

  1. Unemployment falls in 37 states in May
  2. Russia to raise excise taxes on gasoline, alcohol, tobacco: Russia

Friday - June 18, 2010:

  1. Bond funds attract money from investors seeking safety
  2. Fannie Mae, Freddie Mac, ordered to delist
  3. Jobless claims and price data back low rates policy
  4. New jobless claims up sharply as layoffs persist
  5. US current account gap widens for third straight quarter
  6. More Than 90 Banks Miss Bailout Payments
  7. 'Bloated’ NHS to be stripped of 9,000 managers and faces around £250m in cuts
  8. Child tax credits to be slashed for anyone earning over £30,000
  9. Government shelves Labour projects worth £10.5bn
  10. CHINA: Strikes spread north, Toyota plant closed

Thursday - June 17, 2010:

  1. Bank Of England could cap mortgage lending under shake-up by Osborne
  2. France and Spain move on reforms before EU summit
  3. Reports of €250bn credit line for Spain
  4. Home builders won’t lift the economy this time
  5. INDIA: Inflation hits double-digit mark
  6. Nightmare vision for Europe as EU chief warns 'democracy could disappear'
  7. Russia to Buy Canadian, Aussie Dollars for First Time
  8. Soros European recession next year almost inevitable
  9. Welcome to part-time Britain: Record 7.8m workers are not full-time thanks to lack of jobs

Wednesday - June 16, 2010:

  1. China's US govt debt holdings hit 2010 high
  2. Tough times push three more outside EU budget rules
  3. Moody's Cuts Greece Government Ratings to Junk
  4. Thousands protest Romanian austerity measures
  5. IMF concerned over Russia's 2010 budget amendments
  6. Cap Bankers’ Bonuses at Half Pay, EU Lawmakers Say

Tuesday - June 15, 2010:

  1. IMF Risks to Global Economy Have ‘Risen Significantly’
  2. Clegg declares public sector pensions are 'unfair and unaffordable' as figures show bill will double by 2014
  3. Nick Clegg targets deficit as growth forecast is cut

Monday - June 14, 2010:

  1. Obama Pleads For $50 Billion In State, Local Aid
  2. Seattle bank closed, 82nd U.S. failure
  3. As NYS Shutdown Looms, NJ Prepares For Their Own Shutdown
  4. Higher taxes in store for British

Sunday - June 13, 2010:

  1. Gold: Safe investment in a volatile stock market
  2. Obama faces defeat on health help for jobless

Saturday - June 12, 2010:

  1. As Chinese Economy Soars, So Does Inflation
  2. Japan PM Naoto Kan warns of 'collapse' under debt pile
  3. House prices 'heading for double dip'
  4. Less spending by Americans could slow recovery
  5. U.S. Firms Build Up Record Cash Piles
  6. US recovery in slow lane; trade gap widens, jobless claims up
  7. AIG bailout alleged to aid sharia-compliance

Friday - June 11, 2010:

  1. France announces firesale of 1,700 state properties to cut £1trillion debt
  2. Soros Says: `We Have Just Entered Act II' of Crisis
  3. Unemployment 'will soar to 3m' as 725,000 public sector workers lose their jobs

Thursday - June 10, 2010:

  1. Nothing to report on today

Wednesday - June 9, 2010:

  1. Germany sets EU example with €80bn austerity package
  2. German austerity package under fire
  3. Gold hits new high; Dow jumps 123
  4. Here it comes! 2nd dip of recession
  5. Medvedev orders 20% cut in number of federal officials
  6. Northern Rock to cut 650 jobs
  7. Osborne unveils plan to slash deficit as Britain is told to cut faster or risk losing credit rating
  8. Senate jobs bill would hike fund manager tax
  9. Strikes in Spain, protesting cuts, get underway

Tuesday - June 8, 2010:

  1. Dow falls 115; gold nears a record
  2. Euro unlikely to last five more years: FTSE in fresh falls as economists predict currency break up
  3. U.S. facing debt 'super cycle'- $13trillion black hole to overtake country's GDP 'within two years'
  4. Uncertainty Leads to a Broad Decline on Wall St.
  5. Hungary fears send stock markets tumbling
  6. Britain's prime minister warns of cuts
  7. Cameron Prepares U.K. for Cuts Hurting ‘Every Single Person’
  8. UK debt interest bill will rise to £70bn without action, says David Cameron

Monday - June 7, 2010:

  1. Top economies agree on need to reduce deficits
  2. Long-Term Unemployed Now 46 Percent Of Unemployed, Highest Percentage On Record
  3. Paterson Adds Health Care Cuts To Latest Budget Extension

Sunday - June 6, 2010:

  1. German businesses could steer the country out of the eurozone
  2. Hungary Tries To Calm Talk Over Default
  3. Russian president hopes Europe will stabilize its currency
  4. TierOne Bank fails
  5. Which way is the market headed?

Saturday - June 5, 2010:

  1. Stocks lose 3% following bad May jobs report, more European debt troubles
  2. Weak jobs report batters Dow- Market Dispatches
  3. Euro plummets below $1.20
  4. Eurozone plan for common bond issue to head off debt crisis
  5. G20 policymakers candid about world economic risks
  6. More Americans dealing with long-term employment
  7. 21 Percent Surge In Food Stamps
  8. N.Y. State Hammers Drivers With Slew Of New Fees

Friday - June 4, 2010:

  1. Parliament to probe eurozone bail-out deal
  2. Fed should raise rates to 1 percent Hoenig
  3. Graco's Macedonia plant may close
  4. House prices 'have peaked and will fall for rest of year' as flood of new sales follows HIPs axe (UK)
  5. UK economic recovery to lag France and Germany, S&P forecasts

Thursday - June 3, 2010:

  1. CitiFinancial Baltimore-based CitiFinancial to close 330 branches, six in Maryland
  2. Half a Dozen States Are Delaying Tax Refund Checks
  3. Euro slides to four-year low versus dollar
  4. EU jobless hits record 10.1 per cent
  5. High oil prices to solve Russia's financial problems - Putin
  6. Israel's Unemployment Rate Drops - Again

Wednesday - June 2, 2010:

  1. HP to Cut 9,000 Jobs and Take $1 Billion in Costs
  2. Quarter of landlords consider selling up to avoid coalition's capital gains hike tax
  3. U.S. debt soars to 90% of GDP
  4. UK families face highest inflation in Western World as food prices rocket and pound plunges
  5. Chinese growth slowing down again in May, Wen Jiabao voices concerns
  6. ECB warns of second wave of bank write-downs

Tuesday - June 1, 2010:

  1. ECB warns of more bank loan losses

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