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In Japan, Hope Fades for Disposable Workers
Source:NYT > World Business 12 October 2008, 1:22 am
Little is being built in Japan’s stagnant economy, and day laborers and part-time workers are having difficulty finding jobs.
Australia Guarantees Bank Deposits to Combat Crisis
Source:NYT > World Business 12 October 2008, 12:54 am
Australia and New Zealand gave a blanket guarantee to all bank deposits in a move likely to raise pressure on other economies to do the same.
The World: A Specter’s Shadow Returns to Haunt Moscow
Source:NYT > World Business 11 October 2008, 10:31 pm
Fifteen years after Communists failed to reverse history, can a credit crunch succeed?
A Power That May Not Stay So Super
Source:NYT > World Business 11 October 2008, 10:24 pm
Britain overreached imperially. The U.S. has been doing it financially.
Rich Nations Pushing for Joint Financial Rescue
Source:NYT > World Business 11 October 2008, 8:47 am
The United States and six other nations agreed to a plan to rescue the financial industry, but fell short of offering concrete steps to backstop bank lending.
Russia Approves $36 Billion Loan Plan
Source:NYT > World Business 11 October 2008, 2:46 am
Parliament passed a law unlocking Central Bank lending to private banks in a $36 billion bailout, continuing a strategy that has relied on making government oil profits available to banks.
As Stock Falls, Morgan Looks to Japanese Bank
Source:NYT > World Business 10 October 2008, 10:16 pm
Morgan Stanley was racing to secure its financial lifeline from a big Japanese bank as confidence in the embattled Wall Street bank continued to erode.
Economic Uncertainty Spreads
Source:NYT > World Business 10 October 2008, 10:15 pm
Around the world, fears of recession have fed a stock market panic, as worries about toxic assets spread from the financial sector to the credit markets and now to the broader economy.
Russia to Spend Billions Buying Shares on Stock Exchanges to Bolster Confidence
Source:NYT > World Business 10 October 2008, 10:05 pm
The move would support one of the world’s hardest-hit markets from the credit crisis, as the country suffered fresh blows from plunging commodity prices.
Iceland’s Banks Face Overseas Claims
Source:NYT > World Business 10 October 2008, 10:03 pm
Across Europe, countries, companies and consumers are discovering exposure to the three main Icelandic banks, all of which have been taken over by the government.
Global Anxiety Catches Up to Japan’s Economy
Source:NYT > World Business 10 October 2008, 10:03 pm
The world’s second-largest economy, which had seemed immune from the global financial contagion, is suddenly looking a lot more vulnerable.
Iran Vendors Protest Move to Collect a Sales Tax
Source:NYT > World Business 10 October 2008, 9:59 pm
The protests, the largest since President Mahmoud Ahmadinejad was elected in 2005, occurred in several large cities.
Off the Charts: The World’s Banks Could Prove Too Big to Fail — or to Rescue
Source:NYT > World Business 10 October 2008, 9:58 pm
As the banking system quaked this week in many countries, one question was asked quietly: Can the governments afford it?
Encounter: A Green Revolution for Africa?
Source:NYT > World Business 10 October 2008, 4:11 pm
Rajiv Shah is helping the Gates Foundation donate hundreds of millions of dollars to improve agriculture on the continent. But is technological change enough?
As Crisis Spreads, Global Approach Weighed
Source:NYT > World Business 10 October 2008, 7:51 am
The U.S. and Britain appear to be coming to a common solution a day before a meeting of financial leaders.
Toyota May Make Prius a Brand and Widen the Model Lineup
Source:NYT > World Business 9 October 2008, 10:53 pm
Toyota may create a separate brand for its Prius hybrid car and could add both larger and smaller Prius models to the lineup.
Estonia’s Let-It-Be Economy Is Rattled by Worldwide Distress
Source:NYT > World Business 9 October 2008, 10:53 pm
Estonia, the former Soviet republic that has embraced capitalism, is reluctantly turning to state intervention as it confronts an economic slowdown.
Memo From Tokyo: Scarred by Past Woes, Japan Sees U.S. Bailout as a First Step
Source:NYT > World Business 9 October 2008, 10:09 pm
Japan’s bitter memories of its banking meltdown in the 1990s made it sympathetic to Washington’s bailout efforts and reluctant to lecture America.
News Analysis: Britain Takes a Different Route to Rescue Its Banks
Source:NYT > World Business 8 October 2008, 10:06 pm
Britain offered an $88 billion government lifeline for the nation’s banks Wednesday, a solution that it hailed as a quicker one to the credit crisis than the U.S. bailout plan.
In Russia, a Struggle for Markets Just to Stay Open
Source:NYT > World Business 8 October 2008, 10:04 pm
Every day this week, regulators have had to halt trading on Russia’s main bourses, the world’s hardest-hit stock markets during the current crisis.
Breakingviews.com: A Black Hole in Russian Banks
Source:NYT > World Business 8 October 2008, 10:01 pm
It seems that no matter how many billions of dollars of public money the Russian government gives to assist markets and help the country’s bank, all that shares do is tumble further.
Bank Crisis Is Bypassing Central and East Europe
Source:NYT > World Business 8 October 2008, 9:15 pm
While consumer spending and growth rates are declining in the Czech Republic, Poland and other Eastern European countries, analysts say these trends are not related to the banking turmoil in the rest of the world.
World Business Briefing | Americas: Canada: New Home Starts Increase
Source:NYT > World Business 8 October 2008, 9:11 pm
Canadian new-home starts unexpectedly rose in September, the second straight monthly increase, led by new condominiums in cities.
World Business Briefing | Europe: France: Merger Talks for Lenders
Source:NYT > World Business 8 October 2008, 9:11 pm
Groupe Caisse d’Epargne and Groupe Banque Populaire, the French lenders that control Natixis, are in talks to merge as the global financial crisis pushes banks to combine.
World Business Briefing | Europe: Sweden: More Job Cuts at Volvo
Source:NYT > World Business 8 October 2008, 9:10 pm
Volvo has tripled the number of planned job cuts to 6,000 positions, or 25 percent of its work force, citing a “rapidly deteriorating” auto market.
World Business Briefing | Europe: Italy: Talks Begin on Alitalia
Source:NYT > World Business 8 October 2008, 9:10 pm
CAI, the Italian investor group, is beginning talks this week to sell a stake in Alitalia to Air France-KLM Group or Deutsche Lufthansa.
World Business Briefing | Europe: Germany: Industrial Production Rises
Source:NYT > World Business 8 October 2008, 9:10 pm
Industrial production in Germany, Europe’s largest economy, rose the most in 15 years in August, led by demand for construction.
World Business Briefing | Americas: Brazil: Inflation Rate Falls
Source:NYT > World Business 8 October 2008, 9:09 pm
Brazil’s monthly inflation rate dropped in September to the lowest in a year as food prices fell for a second month.
World Business Briefing | Asia: India: Tata to Buy Citigroup Operations
Source:NYT > World Business 8 October 2008, 8:42 pm
India’s largest outsourcing firm, Tata Consultancy Services, is buying Citigroup’s back-office operations in India for $505 million in cash, the companies said on Wednesday.
Facing a Financial Crisis, European Nations Put Self-Interest First
Source:NYT > World Business 8 October 2008, 8:08 am
As the financial storm spread, some of the 27 nations that make up the European Union have broken ranks to protect their own citizens and banks.
European Legislators Back Emissions Rules
Source:NYT > World Business 7 October 2008, 11:08 pm
European Union legislators voted in favor of laws aimed at reducing greenhouse gas emissions, but frustrated some environmental advocates by taking steps to ease the burden on industry.
Europe Prepares Consumer Rights Plan
Source:NYT > World Business 7 October 2008, 11:07 pm
The proposal to guarantee consumer rights for all European Union members is expected to help spur shopping online and across national borders.
Iceland, in a Precarious Position, Takes Drastic Steps to Right Itself
Source:NYT > World Business 7 October 2008, 10:35 pm
In addition to seeking a $5.5 billion loan from Russia, Iceland pegged its currency to an index and took control of one of its largest banks as it struggled to keep its economy afloat.