United States

Tuesday, November 18th 2008 - 20:00 UTC
Citigroup prepares for long winter sheds 20% jobs worldwide

Banking giant Citigroup announced it is planning shed 52,000 jobs with losses falling “particularly heavily” in London and New York. The cut - along with previously announced job losses of around 22,000 - will leave it with a global total of 300,000 employees in the near term.
Tuesday, November 18th 2008 - 20:00 UTC
Paulson cools bailout funds waiting for Obama administration

United States Treasury Secretary Henry Paulson said that what remains of the 700 billion USD bail out plan authorized by Congress will be left for unforeseen emergencies and to help the incoming President elect Barack Obama administration.
Tuesday, November 18th 2008 - 20:00 UTC
Cash strapped Ford and GM sell stakes in Mazda and Suzuki

Troubled US carmaker Ford Motor is selling a 20% stake in Japan's carmaker Mazda Motor. The announcement follows General Motors decision to sell its 3% stake in carmaker Suzuki for 230 million US dollars to raise cash.
Tuesday, November 18th 2008 - 20:00 UTC
As recession advances US wholesale prices fall 2.8% in October

Falling energy costs meant US wholesale prices dropped by 2.8% in October, the biggest one-month decline since records began more than 60 years ago. The larger-than-expected fall was triggered by a 12.8% drop in energy prices, the biggest monthly decline for 22 years.
Monday, November 17th 2008 - 20:00 UTC
Crucial week for the survival of US auto industry

United States president-elect Barack Obama said all parties involved in the US auto industry should come together to formulate an economic survival plan.
Friday, November 14th 2008 - 20:00 UTC
Soros forecasts “decimation” of hedge funds

Billionaire investor George Soros offered a gloomy outlook for the US economy, stating that a depression is possible. Testifying at a US Lower House Oversight and Government Reform Committee hearing on Thursday, Soros predicted that not only will the US muddle through a “deep recession,” but that hedge funds will be “decimated” by the current financial crisis.
Friday, November 14th 2008 - 20:00 UTC
US October retail sales plunge but Wal-Mart's up 2.4%

United States retail sales fell 2.8% in October, the largest drop on record for the month and another sign that US consumers are clamping down amid the faltering economy, the Commerce Department reported Friday.
Thursday, November 13th 2008 - 20:00 UTC
Obama will not be at financial summit; sends two emissaries

President-elect Barack Obama named former Secretary of State Madeleine Albright and former Republican Representative Jim Leach as his emissaries at the international economic summit hosted by President George Bush in Washington on November 14/15.
Wednesday, November 12th 2008 - 20:00 UTC
Paulson changes focus of bail out plan to spur liquidity

The 700 billion US dollars bail-out package has already “clearly helped stabilise” the financial system, US Treasury Secretary Henry Paulson said on Wednesday but he also warned there were still many challenges ahead and market turbulence was likely to continue for some time.
Sunday, November 9th 2008 - 20:00 UTC
Obama and Latam: “no major initiatives, change of tone”

No major changes or initiatives, but a change in tone” - that is the commonly-held view of Washington analysts on Barack Obama's likely policies towards Latin America.