Survival News Network

Fidelity Investments Will Eliminate 1,700 Jobs in First Quarter

Thu, 20 Nov 2008 15:50:44 +0000

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 [...]

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

Fidelity Investments Will Eliminate 1,700 Jobs in First Quarter Source: Bloomberg.com Fidelity Investments, the world’s largest mutual-fund manager, will...
Wall St jobs axe threatens 70,000 Source: FT.com The financial industry is bracing for a fresh...
Wealthy shop low end as crisis bites Source: Reuters Wealthy Americans are rubbing shoulders with the masses...

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A black Friday for 16,000 workers as Citi and Sun plan massive layoffs

Thu, 20 Nov 2008 15:50:43 +0000

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% [...]

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

A black Friday for 16,000 workers as Citi and Sun plan massive layoffs Source: BloggingStocks The two companies announcing big layoffs: a big...
Mayor Daley: Prepare For Mass Layoffs Source: cbs2chicago.com The warning is out – Mayor Richard M....
Layoffs Starting to Spread As US Recession Looms It’s more than just a recession…it’s a depression. Source: CNBC.com...

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US retail sales fall at record rate

Thu, 20 Nov 2008 15:50:42 +0000

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 [...]

Poor retail sales weigh on Wall Street This is no great surprise, but I’m posting it anyway….
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…
Retail sales data heighten US recession fears From the Financial TimesRecession fears continued to grip the US…

US retail sales fall at record rate Source: FT.com The dire mood among US consumers was highlighted...
Retail Sales in U.S. Fall Most in Three Years on Job Losses, Housing Woes Source: Bloomberg.com The eroding U.S. economy drove retail sales into...
Japan slips into recession Source: FT.com The Japanese economy entered its first recession in...

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Celente Predicts Revolution, Food Riots, Tax Rebellions By 2012

Thu, 20 Nov 2008 15:50:41 +0000

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 [...]

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

Celente Predicts Revolution, Food Riots, Tax Rebellions By 2012 Source: Prison Planet The man who predicted the 1987 stock...
Food Shortage in the News N Korea cuts food to farmers: aid group The Age...
Cupboards bare as New Jersey food banks serve more Yes indeed, working families are starting to seek food assistance...

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Analysts Predict Hyper-Inflation To Push Gold To $2000, Oil to $300 Within Months

Thu, 20 Nov 2008 15:50:40 +0000

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 [...]

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

Analysts Predict Hyper-Inflation To Push Gold To $2000, Oil to $300 Within Months Source: Prison Planet Economic experts have predicted that rampant inflation...
UK Inflation soars to 16-year high Source: Reuters Inflation hit a 16-year high of 5.2 percent...
High oil, U.S. floods may accelerate food inflation From: Reuters U.S. consumers, already feeling the pinch of higher...

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Signs of turmoil grow as G20 looms

Thu, 20 Nov 2008 15:50:39 +0000

Source: FT.com
Evidence of global economic turmoil mounted on Thursday as leaders of the G-20 group of nations began to arrive in Washington for this weekend’s summit.
Germany plunged into recession after a steeper-than-expected 0.5 per cent fall in economic activity in the third quarter, new data showed. In the US, the government said the number [...]

Layoffs Starting to Spread As US Recession Looms It’s more than just a recession…it’s a depression.Source: CNBC.comShockwaves from…
Famine looms: World faces high food prices for ‘years to come’ And I looked, and behold, a pale horse! And its…
Merkel Says Washington Helped Drag Europe into the Credit Crisis Source: SPIEGEL ONLINEThe United States government is campaigning around the…

Signs of turmoil grow as G20 looms Source: FT.com Evidence of global economic turmoil mounted on Thursday...
A black Friday for 16,000 workers as Citi and Sun plan massive layoffs Source: BloggingStocks The two companies announcing big layoffs: a big...
A black Friday for 16,000 workers as Citi and Sun plan massive layoffs Source: BloggingStocks The two companies announcing big layoffs: a big...

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U.S. Stocks Retreat as Economic Slump Spurs Profit Concerns

Thu, 20 Nov 2008 15:50:37 +0000

Source: Bloomberg.com
U.S. stocks fell and the Standard & Poor’s 500 Index retreated below its lowest closing level since 2003 on a jump in jobless claims and a worsening outlook for industrial and technology companies.
General Electric Co. dropped below $15 for the first time since 1996 after Citigroup Inc. said the company faces earnings “headwinds.” [...]

U.S. Stocks Slump on Rise in Jobless Claims Another snippet O gloom. Source: Bloomberg.com: Worldwide U.S. stocks fell…
Global Stocks Fall on Recession Concern; Commodity Producers, Euro Decline Source: Bloomberg.comStocks fell around the world, the euro sank to…
U.S. Stocks Plunge, S&P 500 Heads for Worst Month Since 1938 Source: Bloomberg.comU.S. stocks tumbled this week, driving the Standard &…

U.S. Stocks Retreat as Economic Slump Spurs Profit Concerns Source: Bloomberg.com U.S. stocks fell and the Standard & Poor’s...
Global Stocks Tumble, Driving S&P 500 to Worst Week on Record Source: Bloomberg.com Stocks tumbled around the world, driving the Standard...
Global Stocks Tumble, Driving S&P 500 to Worst Week on Record Source: Bloomberg.com Stocks tumbled around the world, driving the Standard...

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Initial jobless claims top 500,000, highest in over seven years

Thu, 20 Nov 2008 15:50:36 +0000

Source: MarketWatch
First-time filings for state unemployment benefits hit their highest level since September 2001, rising to 516,000 in the latest week, a further sign of how the U.S. labor market’s struggling, the Labor Department reported Thursday.
For the week ended Nov. 8, initial claims climbed by 32,000 from last week’s revised figure of 484,000.
The four-week average [...]

U.S. weekly initial jobless claims rise Source: MarketWatchU.S. weekly jobless claims remained at their highest level…
Jobless claims remain a sign of weakness Source: CNNThe number of Americans filing new claims for unemployment…
U.S. Jobless Claims Rose Last Week to Six-Year High Source: Bloomberg.comThe number of Americans filing first- time claims for…

Initial jobless claims top 500,000, highest in over seven years Source: MarketWatch First-time filings for state unemployment benefits hit their...
U.S. weekly initial jobless claims rise Source: MarketWatch U.S. weekly jobless claims remained at their highest...
U.S. Jobless Claims Rose Last Week to Six-Year High Source: Bloomberg.com The number of Americans filing first- time claims...

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Family homelessness rising in the United States

Thu, 20 Nov 2008 15:50:34 +0000

Source: Reuters
President-elect Barack Obama has vowed to help middle-class U.S. homeowners facing foreclosure, but he has said little about how he will help low-income families made homeless by a worsening economy.
Obama has spoken broadly about boosting affordable housing and restoring public housing subsidies. But with economists forecasting a deep recession in 2009, he may find [...]

Economic chaos creates surge in homelessness Source: CNN.comThe number of homeless families in Massachusetts has surged…
Homeless numbers ‘alarming’ Source: USATODAY.comMore families with children are becoming homeless as they…
Economy Increases Fear of Homelessness If “Economists generally don’t believe that a depression is likely”…

Family homelessness rising in the United States Source: Reuters President-elect Barack Obama has vowed to help middle-class...
Prepare for chaos: U.S. electoral system warned it ‘can’t cope’ as historic number of voters cast their ballot Source: Mail Online A record turnout of up to 130million...
The United States 100-Mile ‘Constitution-Free’ Border Zone Source: Wired.com After 9/11, Congress gave the Department of Homeland...

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Google stock below $300 mark for first time since 2005

Thu, 20 Nov 2008 15:50:33 +0000

Source: MarketWatch
Analysts who follow Google Inc. cut their estimates for the Internet giant’s fourth-quarter financial results Wednesday, as the company’s shares dipped below the $300 mark for the first time in more than three years.
Analysts cited evidence that Mountain View, Calif.-based Google (GOOG) , like other Internet companies, is suffering from a marked slowdown in [...]

Google shares fall below $400 for first time in two years Now you KNOW that things are bad, when Google has…
Google Earth increasingly compliant with censorship requests Source: The Raw Story Google has becoming increasingly compliant to…
The Already Big Thing on the Internet: Spying on Users From the New York Times In 1993, the dawn of…

Google stock below $300 mark for first time since 2005 Source: MarketWatch Analysts who follow Google Inc. cut their estimates...
Google Earth increasingly compliant with censorship requests Source: The Raw Story Google has becoming increasingly compliant to...
Data Mining You to Death: Does Google Know Too Much? Source: SPIEGEL ONLINE Does Google Know Too Much? By Julia...

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