Archive for the “News” Category


Source: Bloomberg.com
Fidelity Investments, the world’s largest mutual-fund manager, will eliminate about 1,700 jobs in the first three months of 2009, after announcing the dismissals of 2.9 percent of its employees last week.
Together, the 3,000 job cuts represent 7 percent of the workforce, Anne Crowley, a Fidelity spokeswoman, said today in an interview. Boston-based Fidelity [...]

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  1. American Express to cut 7,000 jobs, save $1.8 billion Source: ReutersAmerican Express (AXP.N: Quote, Profile, Research, Stock Buzz) said…
  2. Lehman Brothers loses $3.9bn in third quarter Source: FT.comLehman Brothers on Wednesday confirmed plans to spin off…
  3. 200,000 US Banking Jobs at Risk From The Associated Press The U.S. financial industry has been…

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Source: BloggingStocks
The two companies announcing big layoffs: a big bank and a leading tech company that sells to banks. According to reports, Citigroup (NYSE: C) may lay off 10,000 employees — adding to the 23,000 it has already cut in the last year. Sun Microsystems (NYSE: JAVA) announced it will can 6,000 people — 18% [...]

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  1. Layoffs Starting to Spread As US Recession Looms It’s more than just a recession…it’s a depression.Source: CNBC.comShockwaves from…
  2. Mass layoffs at the highest level since 9/11 attacks money.cnn.com The number of layoff announcements involving at least 50…
  3. Layoffs rise 68 percent in April vs March From Reuters U.S. companies’ planned layoffs jumped 68 percent in…

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Source: FT.com
The dire mood among US consumers was highlighted on Friday when figures showed that retail sales fell by 2.8 per cent in October – the steepest monthly drop since the commerce department began measuring the data in 1992.
The fall in retail sales was more rapid than the 2 per cent decline economists were [...]

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  1. Poor retail sales weigh on Wall Street This is no great surprise, but I’m posting it anyway….
  2. Retail Sales in U.S. Fall Most in Three Years on Job Losses, Housing Woes Source: Bloomberg.comThe eroding U.S. economy drove retail sales into their…
  3. Retail sales data heighten US recession fears From the Financial TimesRecession fears continued to grip the US…

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Source: Prison Planet
The man who predicted the 1987 stock market crash and the fall of the Soviet Union is now forecasting revolution in America, food riots and tax rebellions - all within four years, while cautioning that putting food on the table will be a more pressing concern than buying Christmas gifts by 2012.
Gerald [...]

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  1. How Far is the US From Food Shortages and Food Riots? Via Indybay So far, Americans have been able to weather…
  2. Food Riots are Coming to the U.S. From counterpunch.org “I don’t want to alarm anybody, but maybe…
  3. Food riots to worsen without global actions Developed countries will be next.From Reuters Food riots in developing…

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Source: Prison Planet
Economic experts have predicted that rampant inflation caused by government stimulus packages will soon take hold of the economy and force precious commodity prices to all time highs.
Johann Santer, MD at Superfund Financial Hong Kong told CNBC that he expects to see gold climb from its current position at $710 to a whopping [...]

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  1. Peter Schiff, Hyper Inflation and Martial Law Peter Schiff, Hyper Inflation, Martial Law…
  2. Gold Up Sharply As Dollar Slides, Oil Soars US CommoditiesGold and other precious metals futures rose sharply Friday,…
  3. UK Inflation soars to 16-year high Source: ReutersInflation hit a 16-year high of 5.2 percent in…

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