financial crisis

Stories 661 - 680 | << Prev   Next >>

Geithner Delays Bank Bailout Until Tuesday

Treasury Department focuses on pushing stimulus through Congress

(Newser) - The Treasury Department will wait until Tuesday to unveil the next bank bailout while lawmakers and President Obama debate their multibillion-dollar stimulus plan, the New York Times reports. “With record high job losses, and weakening economic forecasts, we’re focused on working with Congress to pass an economic recovery...

It's Time for a Backup Plan
 It's Time for a Backup Plan 
Feb 8, 2009 2:50 PM CST

It's Time for a Backup Plan

Stay calm, be optimistic, or just go back to school

(Newser) - If you've gotten the ax or fear you're next, it’s time to prepare yourself without panicking, NPR reports. The American Psychological Association advises people to stay calm and make a financial plan to cope with tough times. "It's very hard, but try to stay focused in the present,...

10 Best Cities for Small Business
 10 Best Cities 
 for Small Business 
GLOSSIES
Feb 8, 2009 10:59 AM CST

10 Best Cities for Small Business

(Newser) - Despite tough economic times, an analysis of the country’s 100 largest metropolitan areas offers hope for those looking to launch a small business. Portfolio and BizJournals list the cities that are most conducive:
  1. Raleigh, NC: The only market to rank among the top 10 in many key categories—growth,
...

'All Obama All the Time' Garners Mixed Reviews

(Newser) - You can’t miss President Obama these days, as he undertakes a media blitz that has watchers nodding and shaking their heads in equal proportion, Linton Weeks writes for NPR. “The president who promised to be transparent is actually omniparent—appearing all over tarnation.” Some see the saturation...

Restaurants See Economy's Effect on Bills

Newest craze is splitting the check, to servers' annoyance

(Newser) - Gone are the days when one friend would insist on picking up the dinner check—and with them, the practice of splitting bills evenly, reports the Chicago Tribune. More and more, newly budget-conscious diners are asking for itemized checks. "Why?" says one restaurant manager. "Because nobody is...

Recession, Free Dating Sites Are Match Made in Heaven

Paid online dating sites see customers flooding to free upstarts

(Newser) - Traffic on free online dating sites has spiked, a trend fueled by the recession and by daters’ realization that finding love for free beats paying, reports BusinessWeek. “If it’s free, why would I go to Match?” asks a Florida woman who met her fiancé on PlentyofFish.com, which...

Reality Bites Starbucks Fantasy
 Reality Bites Starbucks Fantasy 
OPINION
Feb 6, 2009 3:41 PM CST

Reality Bites Starbucks Fantasy

(Newser) - Many Americans fantasized of tuning in, dropping out, and working at Starbucks, Mary Schmich writes in the Chicago Tribune, but that dream died with the economic slowdown. “Starbucks was the great American backup plan,” Schmich writes. “The emergency exit. The parachute,” fueled by the “promise...

Stimulus Hope Lifts Dow 217
 Stimulus Hope Lifts Dow 217 
MARKETS
Feb 6, 2009 3:21 PM CST

Stimulus Hope Lifts Dow 217

Market shrugs off 7.6% unemployment

(Newser) - Stocks rallied today as investors anticipated quick action on a stimulus package, MarketWatch reports. Unemployment for January was 7.6%, but investors are betting the frightening figure will spur Congress to expedite the bill. The Dow rose 217.52  to close at 8,280.59. The Nasdaq gained 45.47...

Calif. State Workers Take Forced Day Off

200K at DMV, other agencies stay home amid budget crunch

(Newser) - Californians looking to renew a driver’s license today will be disappointed, as 200,000 state employees take their first forced day off. Gov. Arnold Schwarzenegger says the two mandatory unpaid vacation days per month—a 9% pay cut—is a budget necessity. But many Californians are confused about which...

Renegade Trader Leaves Deutsche Bank Reeling

(Newser) - How does one lose almost $2 billion in a matter of months? Look no further than the story of Deutsche Bank’s Boaz Weinstein, the chess master and gambling extraordinaire who made more than $1.5 billion for the firm in just 2 years before losing it all and more,...

With Car Czar Delayed, Automakers Spin Wheels

GM and Chrysler find no one behind the wheel of auto restructuring

(Newser) - Amid the federal appointment frenzy, the lack of a "car czar" has received little attention, but the vacancy is holding up automakers trying to meet restructuring deadlines included in their $17.4 billion federal loan, the Wall Street Journal reports. The loans require General Motors and Chrysler to submit...

Toyota's Losses Will Triple
Toyota's Losses Will Triple  
Feb 6, 2009 8:29 AM CST

Toyota's Losses Will Triple

First loss in seven decades multiplies as market deteriorates

(Newser) - Toyota now expects its full-year operating loss to be three times larger than the $1.6 billion it forecast in December, the New York Times reports. The company expects to lose $5 billion for the fiscal year through March 31 as world automobile demand deteriorates. Toyota, which last year overtook...

US Women Set to Surpass Men in Labor Force

Rise of working females may change office, family life

(Newser) - As unemployment rises, the US is on the verge of a surprising milestone: for the first time, more women than men will be on the nation's payrolls. As the New York Times reports, 82% of the people who have lost their jobs in the recession are men, who have substantial...

Skirting Pay Cap Will Be a Piece of Cake

Obama proposal leaves wiggle room, and Wall St. usually good at finding it

(Newser) - The squeeze on big paydays for executives of bailed-out banks will probably leave Wall Street plenty of wiggle room. Consultants on executive pay say the caps imposed by President Obama yesterday will probably apply only to a few executives—not star traders, brokers, and salespeople who routinely earn whopping pay...

Small Designers Try to Ride Out Recession

As downturn bites, young designers prepare for worst

(Newser) - The beginning of the decade seemed like a golden age for ambitious American fashion. New prizes, elaborate sponsorships, and an expanded New York Fashion Week made the early 2000s the age of the young designer. But now stores are reducing their orders or folding entirely, and money is drying up,...

Buffett Loans Billions to Swiss Re
Buffett Loans Billions to
Swiss Re
Feb 5, 2009 8:31 AM CST

Buffett Loans Billions to Swiss Re

Insurance giant turns to Omaha after heavy annual loss

(Newser) - Insurance giant Swiss Re has reported an annual loss of $860 million and will turn to Warren Buffett to retain its investment-grade rating, the Financial Times reports. The company will raise $2.58 billion, of which more than half will come from Berkshire Hathaway—leaving Buffett with more than 20%...

Jobless Claims Set Another Record

626,000 claims filed last week, far more than expected

(Newser) - New jobless claims jumped far more than expected last week in an already dismal labor market, and there's no relief in sight for workers as mass layoffs persist. The Labor Department reports that the number of laid-off workers seeking jobless benefits rose last week to 626,000 from the previous...

Citi's Mets Deal Makes Sense in the Long Run
Citi's Mets Deal Makes Sense in the Long Run
OPINION
Feb 4, 2009 2:31 PM CST

Citi's Mets Deal Makes Sense in the Long Run

$400M, over decades, will generate lots of publicity, help pay back bailout funds

(Newser) - Citi’s $400 million naming-rights deal with the New York Mets may seem “tone-deaf and stupid” after the bank took $45 billion in bailout funds, Daniel Gross writes in Newsweek—but it’s a good idea. “Companies—even companies getting bailed out by the feds—need to attract...

C'mon, Mr Prez, Nobody Will Run Bank for $500K
C'mon, Mr Prez, Nobody Will Run Bank for $500K
OPINION
Feb 4, 2009 12:34 PM CST

C'mon, Mr Prez, Nobody Will Run Bank for $500K

Obama, after pledge to be above the noise, falls prey to it instead

(Newser) - Sure, bankers make too much money, but President Obama’s ceiling “is just a misguided attempt to quiet the peanut gallery,” writes Megan Barnett in Portfolio. The $500,000-per-year executive cap will discourage banks from taking needed government cash, and drive away top talent. “Money is what...

Populist Outrage Makes Perfect Sense

Pay system at the heart of this whole mess

(Newser) - All it takes is $18.4 billion, and suddenly the mob is restless. Once, we were content to brush Wall Street’s gross inequities under the rug, but “we’re populists of a more fiery sort now,” writes Thomas Frank in the Wall Street Journal, “the old...

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