Archive for the ‘Business’ Category

In what is being seen as an unprecedented trend, new unemployment benefits claims have experienced a drop in the last week. The number of people that are continuously seeking aid however continues to increase sharply and consistently. The Labor Department reported that applications ... Full story

On Wednesday the stocks experienced their biggest losses in over a month. The losses came following the warning issued by tech giant Intel regarding the rise of unemployment and expectations of poor business in the near future.  Some investors were looking for a speedy recovery during the early ... Full story

The recent disputes between Russia and Ukraine over the supply of natural gas flared up this Tuesday. Ukraine lashed out at Russia saying that it had cut the supply of natural gas to Europe. Nine countries reported having their gas supplies cut off or reduced by ... Full story

Last week’s rally poured in some positive results for Wall Street in the form of securing higher gains than what it has been yielding in the past couple of months. Barack Obama’s economic stimulus package has given investors a considerable amount of encouragement during the prevailing difficult circumstances.  ... Full story

The end of the 2008 has been the worst year in decades for the auto industry. On Monday they will be putting forward their reports for what is likely to be another month of horrible sales.  The six automaker giants will all be reporting at least a 30% drop in sales during the last month of the year. General Motors and Chrysler are at the bottom ... Full story

The Irish economy has been jolted by the global economic crisis and many big names have been brought down to their knees. Mr. Dunne, one of Ireland’s richest men known for being a brazen deal maker is still standing though worried about the future as Ireland experiences the worst ever housing bust in Europe.  The Irish economy rose to its prime in remarkably quick time and ... Full story

The Austrian government has taken over one of Austria’s primary bank that was crushed as a result of Madoff’s scheme. The bank suffered a loss of $3 billion which left it too bruised to carry on by itself. The announcement of the takeover was made public on the Web site of Austria’s financial regulator Finanzmartaufsicht.  ... Full story

The economic crisis has had its impact on the world of art when it comes to auctions but it can hardly restrain the artistic activity that is set to come into the lime light in the coming year. Collectors and curators will have plenty of activity to engage in ... Full story

Russia and Ukraine had been engaged in negotiations trying to come to common terms over the disputed prices for natural gas. The negotiations collapsed without any positive outcome the result of which has been a statement issued by Russia that it will suspend the delivery of natural gas to Ukraine. Russia is the supplier of up to one fourth of the natural ... Full story

The current consumer spending statistics act as an affirmation of the grim economic scenario. Different reports were issued on Tuesday that showed consumer confidence declining with housing prices also declining to a record low.   The current consumer confidence level has hit an all time low since the past ... Full story