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NYT > Business (GeoFeed.net)
Thu, 20 Nov 2008 06:19:47 +0100
Markets in Europe and Asia Follow Wall Street Drop
Stocks fell sharply in Europe and Asia a day after a withering sell-off on Wall Street sent U.S. stocks to their lowest close since 2003.
Jobless Claims Reach a 16-Year High
The weekly report provided more evidence of a rapidly weakening job market that is expected to get even worse next year.
Nordic Countries Add $2.5 Billion to Iceland?s Bailout
Iceland finally received international backing for its bailout plan on Thursday, as Nordic countries followed up a loan by the International Monetary Fund.
After Losses, Pensions Ask For a Change
Some of the nation?s biggest companies want Congress to roll back rules requiring them to put more money into pension funds.
Emerging Powers Seen Taking Lead in Recovery
It will take the efforts of China and other emerging nations to lead the global economy out of what is likely to be a long and painful recession, according to a gathering of economic experts.
Auto Chiefs Fail to Get Bailout Aid
Geographical References: Washington
The Big Three automakers left Washington empty-handed after two days of pleading for a financial lifeline.
GMAC Seeks Bank Status So It?s Eligible for Bailout
The financing arm of General Motors said that it had applied to become a bank holding company, which would allow it to become eligible for bailout aid.
Web Sites Wage Holiday Price Wars
As deserted malls and department stores struggle to court consumers with steep discounts, an even more ferocious price war is being waged online.
For Studio, Vampire Movie Is a Cinderella Story
Tiny Summit Entertainment finds itself sitting atop one of the biggest pop-culture phenomena of recent years.
PC Magazine, a Flagship for Ziff Davis, Will Cease Printing a Paper Version
It is the latest of several magazine publishers to drop a print edition, as advertising plummets and the cost of printing a paper version rises.
Health Insurers Offer to Accept All Applicants, on Condition
The health insurance industry said it would support a plan requiring insurers to accept all customers, but asked that Congress require all Americans to have coverage in return.
Advertising: An Ad Network in Times Square
As Walgreens formally opens at 1 Times Square on Thursday, executives are describing plans for the giant signs that will festoon the building on three sides.
Sarkozy?s Fiscal Meeting Raises Diplomatic Hackles
Some American officials are on edge following French President Nicolas Sarkozy?s aggressive statements about American capitalism, and his decision to hold his own financial summit meeting.
Music Patron Is Convicted of Fraud
A federal jury in Manhattan on Wednesday convicted Alberto W. Vilar on 12 counts of fraud.
For ?60 Minutes,? a Jump in Ratings
?60 Minutes? on CBS has been the most-watched program in the nation the last two weeks ? including the full episode on Sunday devoted to Steve Kroft?s interview with Barack and Michelle Obama.
HUD Secretary Says Programs Are Ineffective
Two government programs intended to help hundreds of thousands of borrowers avoid foreclosure are having negligible effects, a top Bush administration official said.
Ambac Reaches Agreement on $3.5 Billion in Exposure
The bond insurer said that it had reached an agreement with counterparties to terminate $3.5 billion of its exposures to risky mortgage-backed debt, which would improve its capital position.
Chemical Maker Cuts Output Amid Downturn
BASF said that it would temporarily halt or slow production at 180 plants around the world as it adjusted to a ?massive decline in demand? brought on by the current economic turmoil.
Ex-Head of Bank of Italy to Go on Trial
Two years after his stint at the helm of the central bank ended in scandal, Antonio Fazio goes on trial in Milan, accused of rigging markets to keep Italian banks in Italian hands.
Entrepreneurial Edge: An Eye on Growth, Deals Stretch Across the Pacific
Geographical References: California
Despite the worldwide downturn, the ties between small businesses in China and Southern California should continue to grow.
F.D.A. Opens Office in Beijing to Screen Food and Drug Exports
The U.S. opened a branch of the Food and Drug Administration in the Chinese capital, the first of several overseas offices aimed at regulating the safety of imported food and medicine.
Bargain Hunters Lifted BJ?s Stores in Quarter
The warehouse club operator said that its third-quarter profit rose 24 percent, helped by shoppers hunting for bargains, and it raised it?s full-year outlook.
Yahoo Bid Is Over, Microsoft Says
Steven A. Ballmer?s stance may force Yahoo?s next chief executive to find another way to revive the company?s profit.
France Dominates Europe?s Digital Library
A new digital library, called Europeana, intends to showcase Europe?s history, literature, arts and science.
Breakingviews.com: Commercial Loans Are Looking Risky
Commercial Loans.
Members of Bailout Panel Are Set
Two longtime Republican lawmakers were named to the new five-member review panel set up to monitor the Bush administration?s $700 billion financial rescue plan.
State of the Art: HD Video Made Sleek and Simple
Pure Digital has added high definition to its Flip Mino, which is already called the least-expensive, smallest and fastest camcorder on the market.
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