Recession is near
The former Fed chairman Alan Greenspan has estimated that the probability for the United States to enter into recession is over 50%. In December, he had shown less pessimistic, believing this probability "just" 50%.
President Bush - 2000 billion deficit
The imbalance in the federal budget for 2008-2009 is multiplied by 2.5. The expenses for pensions and health care are sacrificed in favour of the defence. Curiously optimistic about growth in America, the White House...
Wall Street has subdued end to the weekDisappointing data on manufacturing, consumer confidence and import prices reminded investors on Friday that the US economy is struggling. As a result, a week that began with a rally closed on a subdued note.
Price dip hits Gazprom's profitsRussian natural gas monopoly Gazprom has reported a slight fall in nine-month profits, because of a dip in prices and demand. For the nine months to 30 September 2007, Gazprom made a pre-tax profit of 611bn roubles...
Business
A difficult 2008 fro USB bankSome 4.4 billion Swiss francs in losses, or 2.7 billion euros! That is the extent of the losses confirmed this morning by UBS, the first Swiss bank, which had last year made a profit of 12.26 billion Swiss francs. The world number one soft drink displays a significant increase in its results (+18% to 5.98 billion) and sales (+20% at 28.85 billion). It is better than expected by analysts. The decline in sales of Coca-Cola and... land and real estate subsidiary of the Caisse des Depots shows an increase of 26% in earnings. The dividend is expected to increase by 27%. The group foresees a double-digit growth in the medium term.
Money
Sub-prime woes hit mortgage giant Countrywide FinancialCountrywide Financial, the biggest mortgage lender in the US, has reported a 41% fall in home loans in January. Last month, Countrywide funded mortgages totalling $21.9bn, compared with $37.1bn a year ago, while...
MGIC reported huge losses in the fourth quarter 2007The booster American Credit has attracted the wrath of the market after publishing a deficit of $ 1.47 billion in the fourth quarter. The action picks up by more than 15% across the Atlantic
Sub-prime woes push UBS into redThe Swiss financial giant, UBS, has unveiled a loss for the whole of 2007 after exposure to the crisis-hit US housing market hit earnings.
Tech & Web
Microsoft conducts an extensive overhaul of its leadershipThe American group continues the reorganization of its teams to adapt to his new activities. He wants to get in running order in the perspective of redemption otherwise.
Play.com starts music downloadsOnline retailer Play.com has launched a music download service offering unprotected songs from major record company EMI and independent labels.
Microsoft wants to buy timeBy acquiring the Norwegian Fast Search and Transfer for the equivalent of 830 million euros, the computer giant wants to counter the threat of Google. Fast is a competitor to the British Autonomy, the American and...
BUSINESS NEWS
UBS bank lost 10 Billion in subprime crisis The real estate credit over 50 years Iran and China sign a giant oil contract US Subprime Losses May Reach $300 Billion Refinancing can be difficult to enjoy
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