| Big advertising companies cutting thousands of jobs ) and Interpublic Group (), are cutting thousands of jobs in the face of an advertising downturn that is shaping up as the worst since the Internet bubble burst in 2001. Battling an ...[more] |
| Dismal economy sinks oil as U.S. mulls auto bankruptcy U.S. crude fell 9 percent to a four-year low, near $36 a barrel -- despite dramatic cuts this week in oil supply by OPEC and in U.S. interest rates, to near zero, by a Federal Reserve aiming ...[more] |
| Hard times? More selling Grandma's ring for cash People are scouring through attics and jewelry boxes for gold, silver, diamonds and anything else of value to help pay the mortgage, the gas bills, or to buy gifts to put under the tree, gold ...[more] |
| Stores pull out stops for "last hurrah" weekend The last Saturday before Christmas next week usually ranks just behind "Black Friday" as the single-largest holiday sales day. Black Friday fell on November 28 this year, the day after U.S. T ...[more] |
| Best Buy employee package may help in recession The top U.S. consumer electronics retailer offered voluntary exit packages to most of the 4,000 workers at its corporate complex as weak consumer spending hurts earnings. The exit pac ...[more] |
| Retailers may not rebound until 2010: analysts With the recession showing no sign of abating, market research firm TNS Retail Forward said on Thursday it expects retail sales to remain weak through 2009, with no clear rebound until 2010.< ...[more] |
| Job market still sickly, factories remain weak Government data showed on Thursday that the number of U.S. workers filing new claims for jobless benefits remained at recessionary levels last week, even though they eased from a 26-year peak ...[more] |
| Subprime mortgage bonds back in vogue for some Bullish outlooks on mortgage bonds, including much-derided subprime issues, from JPMorgan Chase & Co. and Barclays Capital are notable since anyone suggesting the bonds were a good buy ov ...[more] |
| Fed's Fisher says Fed will do whatever it takes "We will not shy from pursuing every practicable means of supporting the functioning of financial markets and stimulating the economy back to a steady state by employing new techniques that f ...[more] |
| Global economy to contract slightly in 2009: IIF The IIF, an association of financial services firms with 400 members worldwide, forecast global output falling 0.4 percent in 2009 from an estimated 2.0 percent expansion this year. " ...[more] |
| NYC sheds securities, tourism-linked jobs in November The cuts at hotels and other parts of the leisure and hospitality contrast with the sector's usual hiring of about 3,000 people for the winter tourism season. The recession that began ...[more] |
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