recession – News Stories About recession - Page 48

MARKET opener

Oct 27, 2008 8:58 AM CDT

Stocks Dip Amid Global Selloff

It's deja vu, all over again

(Newser) - Stocks pointed downward this morning, as big overseas selloffs spooked investors, the Wall Street Journal reports. The Dow dropped 134 points shortly after its open, while the S&P dropped 1.7% and the Nasdaq 1.6%. There were positive signs overseas, including an IMF rescue plan for Hungary and...

World Stocks Crash Again

Oct 27, 2008 5:26 AM CDT

World Stocks Crash Again

Nikkei dives to 1982 levels, Hang Seng plummets 12%

(Newser) - Japanese stocks hit a 26-year low as markets in Asia and Europe plunged again amid tenacious fears of a prolonged global recession. The Nikkei fell 6.4% and Hong Kong's Hang Seng index dropped a staggering 12%—its biggest single-day tumble since 1997. In London the FTSE opened down more...

Everything Must Go:
Hard Times Create
Yard Sale Boom

Oct 25, 2008 5:05 AM CDT

Everything Must Go: Hard Times Create Yard Sale Boom

'Thrift economy' thriving as households struggle to meet mortgage payments

(Newser) - Yard sales are on the rise nationwide as the economy heads for the cellar, the New York Times reports. Flyers for sales cover lampposts in formerly booming communities as struggling homeowners seek to raise cash from selling off all the non-essentials—even children's toys. Many of the bargain-hunters are in...

Stocks Take Early Plunge

MARKET opener

Oct 24, 2008 8:54 AM CDT

Stocks Take Early Plunge

(Newser) - Stocks took a big plunge at the open today, with the Dow down 411 points, after a morning that saw Dow and S&P futures fall so far that trading was halted. Driving the pessimism were similar plunges overseas, with the Nikkei down 9.6%, and London’s FTSE down...

Pound Craters After Latest
Grim Stats

Oct 24, 2008 5:08 AM CDT

Pound Craters After Latest Grim Stats

British currency falls to $1.56 amid recession fears

(Newser) - The British economy shrank by 0.5% last quarter, all but confirming that the UK is in its first recession since 1991, reports the Times of London. The decline is greater than expected, and this week both the prime minister and the head of the Bank of England acknowledged that...

Amid Crisis, China Faces Its Own Slowdown

Oct 23, 2008 7:44 AM CDT

Amid Crisis, China Faces Its Own Slowdown

Decline in exports poses huge challenge to Communist Party

(Newser) - For three decades now, China has established itself as a global economic powerhouse by providing cheap exports to the rest of the world. But as demand for Chinese goods slumps in a global recession, the ruling Communist Party, which owes its popularity to expanding prosperity, faces new tests: slowing growth,...

Airfares May Sag in '09: Report

Oct 22, 2008 4:47 PM CDT

Airfares May Sag in '09: Report

Declining demand, dropping oil prices likely to bring prices down

(Newser) - The slumping economy may bring some good to the travel industry: Domestic airfare and hotel rates could fall next year as strapped individuals and companies think twice about globetrotting. A slash in oil prices, down to half of summer’s record high, has also brought airlines relief, Reuters reports. In...

Sour Earnings Sink Stocks

MARKET opener

Oct 22, 2008 8:51 AM CDT

Sour Earnings Sink Stocks

Recession fears keep bears growling

(Newser) - Recession fears kept bears roaring today, as the Dow shed 230 points at the open on a spate of lousy third-quarter results. Wachovia posted a staggering $23.9 billion loss to lead a group of five gloomy blue chip reports, the Wall Street Journal reports. “We’ve seen a...

OPEC Panics as Oil Plunges

Oct 22, 2008 8:33 AM CDT

OPEC Panics as Oil Plunges

Cartel plans emergency meeting this week to cut production

(Newser) - Earlier this year the nations of OPEC were riding high as booming economic growth and tight supplies buoyed crude above $100. But now a barrel of oil is $70 and dropping fast, and frightened petroleum producers are holding an emergency meeting this week to discuss a production cut. As the...

Crisis May Cost World 20M Jobs

ANALYSIS

Oct 21, 2008 3:22 PM CDT

Crisis May Cost World 20M Jobs

Analysts see 'equal-opportunity recession'

(Newser) - The financial sector is slashing workers, and Silicon Valley employees are dropping like prices on last year's iPod. What industry is next? All of them, Moira Herbst writes in BusinessWeek. Every company relies on credit and consumer purchasing power, making this an “equal-opportunity recession,” a staffing agent says....

Oil Sinks Below $70
as Economy Tanks

Oct 17, 2008 2:20 AM CDT

Oil Sinks Below $70 as Economy Tanks

Price oil halves in 3 months as demand takes a dive

(Newser) - Dropping demand sent a barrel of oil dipping below $70 for the first time in 14 months yesterday, the Wall Street Journal reports. Prices have dropped more than 50% in three months—a sign of a deeply troubled economy, but one that could help the world recover as companies that...

Pork or Stimulus? Wrangling Sharpens Over 2nd Bailout

Oct 16, 2008 12:25 PM CDT

Pork or Stimulus? Wrangling Sharpens Over 2nd Bailout

Partisan battle lines already being drawn as economic slump appears to worsen

(Newser) - Congress’ partisan battle over the Wall Street bailout could look amateur compared to what lies ahead, the Los Angeles Times reports, as lawmakers consider a second stimulus package to keep the nation out of a steep recession. Republicans want tax cuts, while Democrats are pushing infrastructure projects and other federal...

Asian Markets Plunge Again

Oct 16, 2008 1:52 AM CDT

Asian Markets Plunge Again

Key indexes down across board amid continuing recession fears

(Newser) - Share prices tumbled in Asia again today amid fears of a US recession and a braking global economy, reports MarketWatch. The key Nikkei 225 Stock Average plummeted 10%, the Hang Seng Index dropped 7.6%, and the China Enterprises Index lost 9.9%. The MSCI Asian Pacific Index—set for...

Avon Looks to
Ailing Economy
for Growth

Oct 15, 2008 2:30 PM CDT

Avon Looks to Ailing Economy for Growth

(Newser) - Avon's cosmetic-toting army is growing as troubled economic times make door-knocking more attractive to women struggling to make ends meet, reports the Wall Street Journal. Incentives including price cuts, gas vouchers, and advice from celebrity financier Suze Orman, helped attract 5% more sales reps in the second quarter of...

Panic Has Passed,
but We Haven't Hit Bottom

Analysis

Oct 15, 2008 11:00 AM CDT

Panic Has Passed, but We Haven't Hit Bottom

Get ready for a long recession

(Newser) - The most panicky phase of the global financial crisis is likely over, thanks to the combined efforts of the world’s governments, writes Steven Pearlstein in the Washington Post. But don’t “confuse this moment of calm with a stock market bottom or a sign that a serious recession...

Global Stocks Skid
Amid Recession Fears

Oct 15, 2008 5:40 AM CDT

Global Stocks Skid Amid Recession Fears

New rash of selling in Europe and Asia despite mammoth bailout packages

(Newser) - The global market rally lost steam today as fears of a deepening recession prompted investors to resume looking for cover after profit taking—despite more than $2 trillion being pledged by governments to help thaw frozen credit markets, reports Bloomberg. Markets closed lower in Hong Kong, Seoul and Sydney. London,...

Dems Pitch $300B Plan to Jump-Start Economy

Oct 14, 2008 3:31 AM CDT

Dems Pitch $300B Plan to Jump-Start Economy

But it may have to wait until January

(Newser) - House Democrats are mulling a huge infusion of public cash to kick start economic growth, the New York Times reports. The proposal, announced after a meeting with top economists, would use up to $300 billion to create jobs in new public works projects, and boost food stamp and unemployment insurance...

What to Play When You're Poor

Oct 13, 2008 5:22 PM CDT

What to Play When You're Poor

LA Times delivers the perfect soundtrack for financial woe

(Newser) - No matter how bad the current financial situation gets, popular music offers something to ease your woes. Hope you haven't pawned that iPod just yet: the LA Times brings you the best in recession-tastic classics:

"Can't Buy Me Love" (Beatles): Single, former Lehman Bros workers will be spinning this

...

In Tough Times,
TV Goes Blue-Collar

Oct 12, 2008 1:43 PM CDT

In Tough Times, TV Goes Blue-Collar

(Newser) - As the financial crisis deepens, expect TV to trade upper-crust environs for jokes about crustiness, reports the New York Post. Entertainment execs are pushing the development of blue-collar comedies that allow for a little old-fashioned escapism. "I don't think audiences want to see a show about the fall of...

Paulson Can't Sack AIG Execs

analysis

Oct 10, 2008 6:58 PM CDT

Paulson Can't Sack AIG Execs

(Newser) - Barack Obama is probably far from alone in wanting the heads of AIG execs who staged a $440,000 employee spa retreat just after the government's bailout of the company. The question is, does Treasury Secretary Henry Paulson have the authority to can the wayward execs? Nope, explains Juliet Lapidos...