tag:blogger.com,1999:blog-12739710182857111612026-05-06T16:35:25.695-04:002009 was the start of the global period of an economic contraction where we see multi national corporations take on a slump, abatement, bust, decline, depression, diminution, lull, pause, retreat, withdrawal, bankruptcy, collapse in their financial standings!snshttp://www.blogger.com/profile/15956510971037463416noreply@blogger.comBlogger381125tag:blogger.com,1999:blog-1273971018285711161.post-28904143617056663242011-12-07T21:07:00.000-05:002011-12-07T21:07:07.467-05:00

AstraZeneca is cutting nearly a quarter of its U.S. sales force in a second wave of redundancies in as many months as it seeks to reduce costs. Britain's second biggest drugmaker said on Wednesday it would cut about 1,150 sales representative and management jobs at a cost of between $50 million and $100 million, charged in the fourth quarter. Rich Fante, president of AstraZeneca U.S., said

snshttp://www.blogger.com/profile/15956510971037463416noreply@blogger.com0tag:blogger.com,1999:blog-1273971018285711161.post-339847466068748222011-11-29T22:05:00.000-05:002011-11-29T22:05:41.877-05:00

A worker walks underneath an American Airlines airplane at Miami International airport in Miami, Florida November 29, 2011. American Airlines and its parent company AMR Corp filed for bankruptcy on Tuesday after failing to win a labor deal with pilots and suffering from mounting fuel costs. Credit: Reuters/Lucas Jackson By Kyle Peterson and Matt DailyAmerican Airlines filed for bankruptcy

snshttp://www.blogger.com/profile/15956510971037463416noreply@blogger.com0tag:blogger.com,1999:blog-1273971018285711161.post-34098491736315220752011-11-14T04:33:00.000-05:002011-11-14T04:33:02.443-05:00

Mizuho Financial Group maintained its full-year net profit forecast on Monday after reporting that first-half profit fell 25.4 percent, weighed down by the absence of hefty bond trading gains that lifted its profits the previous year. Japan's top three banks are announcing their first-half results on Monday, and Mizuho, the second-largest by assets, had been expected to lag rivals. Results of

snshttp://www.blogger.com/profile/15956510971037463416noreply@blogger.com0tag:blogger.com,1999:blog-1273971018285711161.post-7230394367454206262011-10-07T05:50:00.000-04:002011-10-07T05:50:26.017-04:00

Sony Corp will merge two of its wholly owned manufacturing subsidiaries, resulting in the closure of an equipment plant north of Tokyo and the eventual layoff of about 100 contract workers, the company said on Friday. The move, which takes effect on April 1 next year, comes as analysts and investors urge the company to pull off a drastic restructuring of its loss-making television

snshttp://www.blogger.com/profile/15956510971037463416noreply@blogger.com0tag:blogger.com,1999:blog-1273971018285711161.post-77729926226409196522011-09-28T01:58:00.000-04:002011-09-28T02:06:28.272-04:00

Europe's biggest defense contractor BAE Systems said it will cut nearly 3,000 jobs in Britain as smaller global defense budgets hit orders for its fighter jets. BAE said the four partner nations in the Eurofighter Typhoon program -- the UK, Germany, Italy and Spain -- were slowing production rates to help ease their budget pressures, affecting the workload at a number of sites. The

snshttp://www.blogger.com/profile/15956510971037463416noreply@blogger.com0tag:blogger.com,1999:blog-1273971018285711161.post-27218448614067914742011-08-01T05:24:00.000-04:002011-09-28T02:06:28.274-04:00

HSBC will shed 30,000 jobs as it retreats from countries where it is struggling to compete, Europe's biggest bank said on Monday after it reported a surprise rise in first-half profit. Shares in HSBC rose over 4 percent after it unveiled first-half pretax profits of $11.5 billion, up from $11.1 billion a year ago and better than the $10.8 billion average in a Reuters poll of analysts.

snshttp://www.blogger.com/profile/15956510971037463416noreply@blogger.com0tag:blogger.com,1999:blog-1273971018285711161.post-45592390796442419172011-07-26T05:23:00.000-04:002011-09-28T02:06:28.276-04:00

Research in Motion said it will cut 2,000 jobs (approximately 11% of the company’s workforce) and reorganize upper management.The company’s COO Don Morrison will retire, and Thorsten Heins will take over the expanded role of COO, product and sales.The move comes after weak financial results in Q1 and an even worse outlook for the future. As a result of the bleak Q1 report, 

snshttp://www.blogger.com/profile/15956510971037463416noreply@blogger.com0tag:blogger.com,1999:blog-1273971018285711161.post-72532424270642974362011-05-11T23:09:00.000-04:002011-05-13T16:29:43.025-04:00

Cisco Systems Inc warned that it will fare worse this quarter than Wall Street had feared, and laid out plans for global job cuts as it struggles to revive growth. Shares of Cisco fell 3 percent after the world's largest networking equipment maker projected nearly flat sales growth this quarter. CEO John Chambers, who admitted last month that the Silicon Valley bellwether had lost its way

snshttp://www.blogger.com/profile/15956510971037463416noreply@blogger.com0tag:blogger.com,1999:blog-1273971018285711161.post-39832861107229627222011-02-16T21:46:00.000-05:002011-02-16T21:46:38.855-05:00

Borders Group Inc filed for bankruptcy protection and said it would close about one-third of its bookstores, after years of shriveling sales that made it impossible to manage its crushing debt load. The long-expected Chapter 11 filing will give the second-largest U.S. bookstore chain a chance to try to fix its finances and overhaul its business in an attempt to survive the growing

snshttp://www.blogger.com/profile/15956510971037463416noreply@blogger.com0tag:blogger.com,1999:blog-1273971018285711161.post-32758097737094684972010-05-20T20:51:00.001-04:002010-05-20T20:52:00.140-04:00

Air France-KLM posted record losses of ?1.55 billion (?1 = RM4.04) on Wednesday, as a shock new book on its safety record added to the problems facing Europe's biggest airline.The giant net loss for the 2009-2010 financial year came as the Franco-Dutch carrier grappled with the global economic crisis and the fallout from a deadly accident last year.Slumping air traffic, particularly for cargo,

GInfotechhttp://www.blogger.com/profile/16138904378816249412noreply@blogger.com0tag:blogger.com,1999:blog-1273971018285711161.post-32580202997285879962010-05-20T03:03:00.001-04:002010-05-20T03:03:56.082-04:00

Air France KLM Group reported a heavy net loss of €1.56 billion ($1.93 billion) for its fiscal year ended March 31, nearly double its €814 million deficit in the prior year, but management reiterated that it believes a breakeven operating result is possible in the current financial year excluding the impact of pre-2009 fuel hedges and subject to costs related to the closure of European airspace

GInfotechhttp://www.blogger.com/profile/16138904378816249412noreply@blogger.com0tag:blogger.com,1999:blog-1273971018285711161.post-26691591612216457132010-05-20T03:01:00.000-04:002010-05-20T03:02:12.133-04:00

The volcanic ash cloud playing havoc with airline schedules will mean the loss of 1,000 flights in Europe on Monday with airports in Britian and the Netherlands hit, the Eurocontrol agency said.The cloud was however expected to disperse over the day, Europe's intergovernmental air traffic coordinating agency said, as British and Dutch airports were closed because of the risks of flying through

GInfotechhttp://www.blogger.com/profile/16138904378816249412noreply@blogger.com0tag:blogger.com,1999:blog-1273971018285711161.post-76588124949145938062010-05-20T02:59:00.001-04:002010-05-20T02:59:44.642-04:00

The night market at Patpong is usually packed with tourists As clashes between Thai forces and anti-government protesters in Bangkok continue, there are growing fears about the impact the protests are having on the Thai economy. The protesters, called red-shirts after the colour they have adopted, converged on Bangkok in March. They want Prime Minister Abhisit Vejjajiva to resign, with many

GInfotechhttp://www.blogger.com/profile/16138904378816249412noreply@blogger.com0tag:blogger.com,1999:blog-1273971018285711161.post-85803852461233629172010-05-19T23:40:00.000-04:002011-09-28T02:06:28.278-04:00

Drugmaker Pfizer Inc will cut 6,000 jobs, or 18 per cent of the workforce, at its 78 manufacturing plants over the next five years as it pares back operations following last year's purchase of rival Wyeth.The firm plans to cease operations at eight plants in Ireland, Puerto Rico and the US by late 2015 and cut activities at six factories in those countries, plus Germany and Britain.Pfizer had 40

GInfotechhttp://www.blogger.com/profile/16138904378816249412noreply@blogger.com0tag:blogger.com,1999:blog-1273971018285711161.post-13532002574170400922010-01-20T01:24:00.000-05:002010-01-20T01:24:02.835-05:00

Japan Airlines filed for one of the country's largest bankruptcies, entering a restructuring that will shrink Asia's top carrier and its presence around the world. A fleet of 279 aircraft, carrying nearly 12 million passengers a year on more than 400 routes, there's no doubt Japan Airlines is a high profile victim of recession. The bankruptcy of the national flag carrier is a major blow for

snshttp://www.blogger.com/profile/15956510971037463416noreply@blogger.com1tag:blogger.com,1999:blog-1273971018285711161.post-42454131480846467562009-11-05T02:47:00.002-05:002011-09-28T02:06:28.280-04:00

Microsoft Corp said on Wednesday it is cutting a further 800 jobs across its operations, on top of 5,000 jobs already eliminated under a plan to reduce costs that was announced in January. A spokesman for the world's largest software firm said the latest job cuts are spread across the company's global operations, but about 200 are in and around its headquarters in Redmond, Washington. Microsoft

snshttp://www.blogger.com/profile/15956510971037463416noreply@blogger.com1tag:blogger.com,1999:blog-1273971018285711161.post-43927844123995386802009-10-31T01:05:00.000-04:002009-10-31T01:05:19.583-04:00

US authorities seized nine failed banks yesterday, the most in a single day since the financial crisis began and the latest stark sign that substantial parts of the nation’s banking industry are being crippled by bad loans. The move brought the total number of failed banks in 2009 to 115 — their highest annual level since 1992 — with analysts expecting more to come. Among the lenders seized

snshttp://www.blogger.com/profile/15956510971037463416noreply@blogger.com0tag:blogger.com,1999:blog-1273971018285711161.post-84237350767273337142009-10-29T22:10:00.002-04:002009-10-29T22:10:47.888-04:00

Signalling that worse times are ahead for magazines, Time Inc. is expected to announce next week that it will cut US$100 million (RM340 million) from costs, including another big round of layoffs. Time Inc., the publisher of magazines like Time, Fortune, and People, has already cut costs drastically: a year ago, it announced it was dismissing 6 per cent of its work force, or about 600 people.

snshttp://www.blogger.com/profile/15956510971037463416noreply@blogger.com0tag:blogger.com,1999:blog-1273971018285711161.post-22156330783733385772009-10-13T22:18:00.000-04:002009-10-13T22:19:00.783-04:00

China’s super-rich have bounced back from the financial crisis with a vengeance, and the country now has more known dollar billionaires than any other country except the United States, according to a new report. The annual Hurun Report released yesterday said China has 130 known US dollar billionaires, up from 101 last year.The number in the US is 359 while Russia has 32 and India 24, according

snshttp://www.blogger.com/profile/15956510971037463416noreply@blogger.com0tag:blogger.com,1999:blog-1273971018285711161.post-37874457010041381372009-10-13T05:35:00.001-04:002009-10-13T05:36:46.467-04:00

The worst US recession since the Great Depression has ended, but weak household spending as the labour market struggles to create jobs will slow the pace of the economy’s recovery, according to a survey released yesterday. The survey of 44 professional forecasters released by the National Association for Business Economics, also known as the NABE, found that 80 per cent of the respondents

snshttp://www.blogger.com/profile/15956510971037463416noreply@blogger.com0tag:blogger.com,1999:blog-1273971018285711161.post-28768317306172430662009-09-30T04:51:00.000-04:002009-09-30T04:52:37.468-04:00

The chairman of Wal-Mart Stores Inc. warned Wednesday the global economic recovery will likely be lethargic, even as the retailing behemoth sees great growth potential in China and India. "The world recovery is going to be led by Asia although it's going to be very challenging. I think this recovery is going to be a slow one," Robson Walton told a global CEO business conference here.Walton said "

snshttp://www.blogger.com/profile/15956510971037463416noreply@blogger.com0tag:blogger.com,1999:blog-1273971018285711161.post-60730285469203292292009-09-30T04:49:00.001-04:002009-09-30T04:50:43.618-04:00

Likely losses from the financial crisis in the three years to 2010 have been reduced by $600 billion to $3.4 trillion as the world economy grows faster than previously expected, the International Monetary Fund said Wednesday. The organization warned however that the impetus for far-reaching financial reforms risked being lost if the improving situation leads to complacency.In its half-yearly

snshttp://www.blogger.com/profile/15956510971037463416noreply@blogger.com0tag:blogger.com,1999:blog-1273971018285711161.post-67836394010051003092009-08-20T00:43:00.001-04:002009-08-20T00:43:56.828-04:00

The deficit this year is three times that of last yearWASHINGTON: The White House plans to announce the federal deficit is about $262 billion less than officials predicted early this year, in part because the Obama administration has provided less aid than expected to Wall Street.The deficit still will be three times bigger than last year's.The federal deficit this year will total $1.58 trillion,

snshttp://www.blogger.com/profile/15956510971037463416noreply@blogger.com0tag:blogger.com,1999:blog-1273971018285711161.post-69435439382796242552009-08-20T00:42:00.001-04:002009-08-20T00:44:10.492-04:00

Now that the worst of the economic crisis is past and recovery is slowly under way, Congress must halt the mounting increase in U.S. debt to avoid damage to long-term growth and destruction of the dollar, Warren Buffett is urging. The plainspoken billionaire weighed in with his view in an Op-Ed piece published in The New York Times Wednesday, saying that once recovery is solidified, lawmakers

snshttp://www.blogger.com/profile/15956510971037463416noreply@blogger.com0tag:blogger.com,1999:blog-1273971018285711161.post-19983204943756907392009-08-20T00:41:00.001-04:002009-08-20T00:44:28.200-04:00

The numbers of poor and uninsured Americans are likely rising - with more than 38.8 million believed to be in poverty. Rebecca Blank, the Commerce Department's undersecretary of economic affairs, spoke to The Associated Press in advance of next month's closely watched release of 2008 census data.Noting the figures are not yet final, Blank said the numbers will likely show a "statistically

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