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 [...]

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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.” [...]

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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 [...]

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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 [...]

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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 [...]

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