Because of an industry-wide slowdown in sales, the French carmaker Renault announces 6,000 job cuts. According to Renault, about 4,900 jobs would be cut in France while the number would go 1,100 in other European countries. However, a severe reaction has been shown by the French unions to the news and CGT union has called Read more
These days most of the small businesses prefer to lease equipment instead of buying them. Banks are quite aware of this emerging trend and that’s why they have started providing small business equipment finance facilities and lease financing to small businesses. But there are some things that you must consider when leasing equipment for your Read more
The predicted market share for the third quarter has been lowered by the world’s largest mobile phone maker. The statement became the cause to push its shares down 9.6% to 14.20 euros that was the lowest level since 2005. According to Nokia, problems with the production of its new mid-range phones and rivals’ aggressive pricing Read more
Almost a 3 percent drop was noted in Dow Jones and Nasdaq indexes while London’s FTSE 100 index sank about 2.5% .Similarly, French and German markets each lost around 3%. The results came forward when US data suggested mounting unemployment claims and sluggish shop sales. The European Central Bank has shown 1.5% growth forecast in Read more
The International Monetary Fund (IMF) will provide $750 loan to Georgia in an effort to rebuild its economy after the recent war with Russia. Georgia’s economy has gravely suffered after the recent war, key infrastructure including roads and ports have been destroyed by the Russian bombing during the war. The US Secretary of State Condoleeza Read more
Because of the stricken US economy and the falling dollar, Mexicans are sending less money to their homes. According to Mexico’s central bank, the sharpest fall was recorded in remittances during July that was 6.9% down compared to the same period last year. Besides oil revenues, remittances are counted Mexico’s second largest legal source of Read more
Germany’s Commerzbank settles 9.8bn euros ($14.4bn; £8bn) worth deal with insurer Allianz to buy Dresdner Bank. In UK, Dresdner has considerable operations and this move will cause 9,000 job losses in which around 1000 positions to be cut in the UK. Recently, Dresdner had suffered a lot of loses because of the sub-prime crisis and Read more
In an interview with the Guardian newspaper, Chancellor Alistair Darling admitted that the UK is passing through the worst economic crisis in sixty years and this economic downturn would be more profound and long-lasting than expected. Darling also admitted that voters were not happy with Labour Party’s handling of the economic issues. George Osborne (Shadow Read more
According to the US Commerce Department, a 3.3 percent growth was noted in the US economy during the second quarter and it was much higher than the expected 1.9% growth. This growth is being considered a result of strong exports, weaker dollar and tax rebates that help to boost consumer spending. During the first quarter, Read more
During July, a considerable increase was noticed in big-ticket orders for the US factories. It indicates continued progress in export sales and a boost to business investment that has been decreasing in recessive economic conditions in the US for the past many months. However, some economists seem worry as they believe that increasing economic weakness Read more
According to a current survey by the World Bank, poverty in the developing countries is more than the previously thought. This current research is conducted based on the new poverty line of $1.25 per day that has been adjusted according to the current inflationary rate , and the findings are that 1.4 billion people fall Read more
The UK economy is feared to move towards recession as the pound value wilts away against dollar in more than two years. The Pound hits its minimum level and this fall is observed since July2006. “The growth number confirmed our worst expectations,” said John Hydeskov analyst at Danske bank in Copenhagen. Also there is rapid Read more
Different methods of electronic currency payments (existing or in trial phase) make their target to wholesale or retail markets, fund transfers and small-scale nickel and dime transactions. These methods have some advantages and disadvantages as well. Three top advantages and disadvantages of the electronic currency payment system are as under. Advantages of Electronic Currency Payment Read more