Ecomomic Crisis
Daily News and Updates

Thursday - June 30, 2011:

  1. Public sector strike threatens airports and teacher walkout to shut 4 in 5 schools

Wednesday - June 29, 2011:

  1. Fears for economy as families see savings shrink and spend more money to buy FEWER goods
  2. Mortgage rates fall to lowest level on record
  3. Thorntons to close up to 180 stores in further blow to the High Street
  4. Greek police, rioters clash in Athens
  5. Income tax increase on NJ millionaires passed by Senate committee, awaits decision by Christie
  6. Indian stocks up, but higher fuel prices stoking inflation

Tuesday - June 28, 2011:

  1. French banks agree to Greek debt rollover
  2. Greek communists storm the Acropolis in bailout protest
  3. China's Wen signals doubt inflation goal can be met
  4. Consumer spending breaks 10-month rising streak
  5. Fashion retailer Jane Norman files for administration
  6. Foreign investors may buy 40 pct of Russia's power grid bonds

Monday - June 27, 2011:

  1. Exclusive: Banks discuss new Greek rollover plan
  2. Treasury urges British banks to take big losses to help Greece avoid meltdown
  3. By rejecting IMF loan Egypt risks undermining economy
  4. Interest rates need to rise globally
  5. 'Probably inevitable' a country will exit euro Soros
  6. The Greeks are buying gold - so should you

Sunday - June 26, 2011:

  1. Euro meltdown is the biggest threat to our recovery, warns Bank of England governor

Saturday - June 25, 2011:

  1. CHINA: “Inflation under control”, no need to worry, says a confident Wen
  2. Asia moves to tap oil reserves
  3. Eurozone 'mess' is a risk to UK banks, Bank of England governor admits
  4. Lawmakers' pay freeze enforced
  5. Oracle hardware sales drop, shares fall
  6. American APOCALYPSE?

Friday - June 24, 2011:

  1. World stock markets suffer heavy losses
  2. Greek unions prepare 48-hour strike against new cost-cutting
  3. Jobless claims point to weak labor market
  4. Fed cuts growth forecast; no hint of more support
  5. US to Lose Second Place in World Trade to India: Citi
  6. Is China dumping U.S. assets for euros?

Thursday - June 23, 2011:

  1. Greek crisis could cost UK £336bn. British exposure 'significantly underestimated'
  2. CHINA: Expected to hit 6 per cent in June, inflation likely to affect China’s economic growth
  3. How 80% of buyers since 2006 cannot move because houses are worth less than they paid
  4. Moscow housing prices to soar 30 pct by early 2012 say experts

Wednesday - June 22, 2011:

  1. China buying Euro debt
  2. Treasury plans for Greece to go bust
  3. UK treasury pondering death of the euro
  4. Fitch sees risk of Greece, U.S. debt defaults
  5. Greek debt crisis ratings agency raises default fears over bonds
  6. S&P restates political threat to U.S. AAA rating
  7. CHINA: Beijing concerned by pork prices, up 4_8 per cent in a few days
  8. Home sales hit 6-month low, supply rises
  9. JPMorgan, RBS Sued by Federal Agency Over Mortgage Bonds
  10. RIM starts handing out layoff notices, report says

Tuesday - June 21, 2011:

  1. Emergency finance chiefs meeting aims to prevent 'total disaster'
  2. Europe gives Greece ultimatum austerity for loans
  3. Greece bailout impasse leads to fall in European markets
  4. UK banks abandon eurozone over Greek default fears
  5. European credit crunch going global, central banker Jean-Claude Trichet warns
  6. Mass strikes would be colossal mistake - Minister
  7. Tens of thousands protest against cuts in Madrid
  8. California Loses Jobs As Jobless Rate Declines Again
  9. Panasonic sees annual profit down 11 percent after quake
  10. Russia short of long-term capital despite windfall oil revenues
  11. Summer holiday? Not this year, say 17million Britons facing money worries

Monday - June 20, 2011:

  1. Greek debt crisis eurozone ministers meet amid deepening gloom
  2. Market faces test this week because of Greece
  3. New rules for world economy should be devised by UN says Medvedev
  4. Bailed out RBS shuts three care homes to save £1.3m
  5. NYT Foreclosure backlog gives some a reprieve

Sunday - June 19, 2011:

  1. Greece’s 2010 bailout falls flat, puts nation back on brink of default a year later
  2. IMF cuts U.S. growth forecast, warns of crisis
  3. Biggest strike for 100 years – union chief
  4. Detroit schools employees getting layoff notices
  5. Middle-class families squeezed as soaring food and fuel bills leave them £900 worse off this year
  6. Payrolls Dropped in 27 U.S. States in May, Led by California and New York
  7. Public sector retirement age 'will rise to 66'
  8. Two bank failures bring year's total to 47
  9. Wall Street takes aim at staff levels, expenses

Saturday - June 18, 2011:

  1. Investors Fear a Spreading Crisis in Europe
  2. Samsung, other Asian tech shares tumble on earnings worries
  3. Decline of the High Street

Friday - June 17, 2011:

  1. Cost of euro bailout to Britain soars to £22billion
  2. Greek crisis hits world markets
  3. Greek default fears hit global markets as Papandreou pushes austerity measures
  4. Opec to haul in $1 trillion as oil prices increase risk of double-dip recession
  5. Ed Balls calls for £51bn tax cut to jump start British economy
  6. Regional factories sputter, rays of hope in jobs
  7. Retail sales figures reveal depth of consumer slump

Thursday - June 16, 2011:

  1. An index gauging future outlook for the battered industry is at its lowest point in 9 months
  2. Threats to world economy grow
  3. Housing crisis: Worse than the Great Depression
  4. Markets tumble on weak data
  5. Lockheed Martin space unit to cut about 1,200 jobs
  6. Boeing to cut 225 jobs at its Kansas defense plant
  7. British teachers announce mass strike over pensions
  8. Greece general strike prompts violent clashes in Athens
  9. Consumers battle weaker growth, higher prices
  10. Governors seek OK for sharp Medicaid cuts
  11. Rich world economy prospects darken: Reuters poll
  12. Shutdown threatens aid to poor

Wednesday - June 15, 2011:

  1. China ups bank reserves ratio as inflation hits 34-month high
  2. Meaningful probability of a China hard landing Roubini
  3. Inflation remains double Bank of England's target as food and energy costs spiral
  4. BofA May Post Added $27 Billion in Housing Losses, Sanford Bernstein Says
  5. Obama: If debt limit not raised, financial crisis possible
  6. More jobs to go as Royal Mail reports £120m loss
  7. Elderly are hardest hit inflation victims... and it's set to soar even higher in coming months
  8. Retail Sales Dip For The First Time In 11 Months

Tuesday - June 14, 2011:

  1. Greek fears knock oil, euro vs Swiss franc
  2. Roubini Says a ‘Perfect Storm’ May Converge on the Global Economy in 2013 Bloomberg

Monday - June 13, 2011:

  1. Investors may have to get used to down market
  2. Natural gas prices set to jump with exports

Sunday - June 12, 2011:

  1. China ratings house says US defaulting: report
  2. Fed prepares for last spurt of easy money flood
  3. Wall Street braces for layoffs as trading slows
  4. Xerox plans to transfer 600 jobs to Indian outsourcer
  5. France pledges $1.5B for drought-hit farms

Saturday - June 11, 2011:

  1. China May trade gap smaller than expected
  2. ECB Non-voluntary Greek restructuring would be 'enormous mistake'
  3. Toyota forecasts 35 percent profit slide after quake

Friday - June 10, 2011:

  1. 'New system of European governance' demands deeper austerity
  2. Rising rents price tenants out

Thursday - June 9, 2011:

  1. China official: GOP 'playing with fire' with debt ceiling
  2. Fed: Default would be dangerous; Fitch may cut rating
  3. Germany fears 'full-blown bankruptcy' in eurozone
  4. Church's financial struggles part of larger picture
  5. Crisis-hit care home operator Southern Cross to slash 3,000 jobs in bid to stay afloat
  6. Goodrich will close Cleveland landing-gear plant
  7. Oil price rises sharply after Opec meeting collapses in disarray
  8. The summer sales come early: High Street stores panic as retail figures fall

Wednesday - June 8, 2011:

  1. Analysis: $5.3T in new obligations in 2010
  2. GLOBAL MARKETS: Dollar falls on China comments, stocks rebound
  3. China official says U.S. could pursue weak dollar policy
  4. Airlines lose economy passengers as soaring fuel bills force up ticket prices
  5. Disney to lay off nearly 250 at studio, source says
  6. IMF backs Osborne's austerity measures and says recent economic setbacks are temporary
  7. In State Parks, the Sharpest Ax Is the Budget’s
  8. Keithley Instruments to move hundreds of manufacturing jobs to China from Solon
  9. Price of average home has fallen £130 every week for the last year
  10. Universities could be forced to close if sky-high fees put students off attending, warns watchdog

Tuesday - June 7, 2011:

  1. Bank Stocks Take a Beating, and It May Not Be Over
  2. Cash-strapped states look to roll back tax credits
  3. China Has Divested 97 Percent of Its Holdings in U.S. Treasury Bills
  4. Oil prices pose threat to airlines' profits and survival, IATA warns
  5. This is no double dip
  6. UN report calls for regulation to curb speculators pushing up food prices

Monday - June 6, 2011:

  1. IMF set to lend struggling Egypt $3 billion
  2. The postal service is running out of options

Sunday - June 5, 2011:

  1. Without IMF loan, Greek-style debt crisis may face Ukraine - minister
  2. For-profit colleges may face aid cuts

Saturday - June 4, 2011:

  1. Cooling employment casts shadow on recovery
  2. Greece has 50/50 chance of defaulting, says ratings agency Moody's
  3. Report: Mazda to stop making cars in U.S.
  4. US unemployment unacceptably high, White House advisers admit

Friday - June 3, 2011:

  1. Leaders warned US may lose top debt rating
  2. Shares sell-off amid fears over US recovery and Greek downgrade

Thursday - June 2, 2011:

  1. Mortgage approvals fall to record April low
  2. NM plans to stop food stamp supplement for elderly
  3. Recovery fears mount after slow jobs, factory data
  4. Twin blow to economic recovery as mortgage lending and factory output fall

Wednesday - June 1, 2011:

  1. Mobius Says Fresh Financial Crisis Around Corner Amid Volatile Derivatives
  2. Bailout II: Unprecedented Sequel to Greek Bailout
  3. China’s Economy Slows, but Threat of Inflation Still Looms
  4. House prices 'to rise by 4% a year' (but recovery doesn't start until Christmas)

Archives --

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