Job News From: Forbes

Forbes.com: Business News

Global Crisis Hits West African Banking Group Ecobank's reliance on foreign capital affects its share offering and expansion plans. What GM Will Look Like, If It Survives Half the workers and dealers, three brands and lower market share -- but a healthy operating margin. The Best-Paid Celebs Under 30 They've learned early that diversifying income is key to success. Rebuilding Global Markets The latest analysis and commentary from across Forbes.com. How Low Can Banks Go? Financial shares tumble again as quarterly results approach.

Job News From: Yahoo! Business

Yahoo! News: Business Tue, 02 Dec 2008 10:47:46 GMT

Stock futures point to higher Wall Street start (Reuters) Reuters - Stock futures pointed to a higher start on Wall Street on Tuesday, with futures for the S&P 500, the Dow Jones industrial average and Nasdaq up 1.4-1.6 percent. Goldman faces $2 billion loss: report (Reuters) Reuters - Goldman Sachs Group Inc is likely to report a net loss of as much as $2 billion for the fourth quarter, the Wall Street Journal said, citing industry insiders. Bargain-hunters fail to save retail sales (Reuters) Reuters - Bargain-hunting holiday shoppers did not save U.S. retail sales in November, which will likely represent a second straight month of declines for the industry. Boeing engineers approve work contract (Reuters) Reuters - Boeing Co's second-largest union voted on Monday to approve the company's four-year contract offer, avoiding a second damaging strike at the plane maker's Seattle-area plants. Greenberg says AIG needs federal guaranty: report (Reuters) Reuters - The U.S. government should provide a federal guaranty to meet American International Group Inc's counterparty collateral requirements, the insurer's former Chief Executive Maurice Greenberg said. Philippines stock index tumbles 4.7 percent (AP) AP - Philippine shares tumbled Tuesday, dragged down by foreign selling following Wall Street's plunge overnight after a leading economic think tank declared the U.S. already in recession. Investors sue Countrywide to force loans purchase (Reuters) Reuters - A group of bond investors sued Bank of America -owned Countrywide Financial on Monday demanding that Countrywide buy every mortgage loan for which it agrees to reduce payments under a predatory lending settlement deal. General Growth Properties gets loan reprieve (AP) AP - General Growth Properties Inc. has received a two-week extension on mortgage loans totaling $900 million, as the troubled shopping mall owner works to stave off bankruptcy and negotiate longer-term extensions with lenders. Retailers offer deals, discounts on 'Cyber Monday' (AP) AP - Retailers who saw Thanksgiving holiday sales drop off as the weekend progressed stepped up online promotions on the day known as "Cyber Monday" to try to get consumers tired of the crowds at stores to keep shopping.

Job News From: NPR

NPR Topics: Business Tue, 02 Dec 2008 06:00:00 -0500

Business NewsRenee Montagne has business news. Economists: U.S. In Recession For 1 Year AlreadyThe U.S. economy is in a recession. The National Bureau of Economic Research, which tracks economic cycles, says the downturn began last December. Many economists believe it'll be the most severe since the 1981-82 recession. David Wessel of The Wall Street Journal talks with Steve Inskeep about the economy. European Union To Cut Car EmissionsEuropean carmakers will have to make a major cut in the amount of the global-warming gases produced by their vehicles. An agreement reached in Brussels Monday would give the manufacturers six years to reduce the emissions by nearly a fifth. The deal still needs approval by the European Parliament and all 27 European Union nations before becoming law. Last Word In BusinessSteve Inskeep has the Last Word in business. Automakers Reporting Back To CongressExecutives from Detroit's Big Three carmakers are back on Capitol Hill Tuesday to make a new pitch for $25 billion in federal loans. The executives were grilled during their first visit, and have retooled their pitches. Dustin Dwyer reports for Michigan Radio. Shipping Ports Feel Economic Downturn FirsthandThe twin Ports of Los Angeles and Long Beach are the busiest in the nation. But as the economy has declined, so have imports. The repercussions are being felt throughout Southern California, and the people who work the docks and warehouses are being affected. Levin Calls For Bolstering U.S. Auto IndustryDetroit's automakers are due to present their restructuring plans to Congress on Tuesday — before lawmakers will consider approving a possible bailout for the troubled industry. Democratic Sen. Carl Levin of Michigan says a bailout is needed to help America's auto industry survive. Group: Recession Began In Dec. 2007The National Bureau of Economic Research says the United States has officially been in a recession since December 2007. A recession is sometimes defined as two consecutive quarters of negative growth, but the private group uses a more precise measure. Dow Plunges 680 Points; Recession Is OfficialThe National Bureau of Economic Research says the U.S. economy has been in recession since December 2007. Many economists believe the current downturn will last until the middle of 2009, and will be the most severe slump since the 1981-82 recession. Car Dealerships' Woes Impact Local GovernmentsThe Big Three's financial problems are trickling down to dealerships across the country. Many local governments depend on tax revenues from dealers but are now experiencing huge losses. The city manager of Monroeville, Pa. discusses how failing dealerships are affecting his city's revenues. How Big Three Could Win Over WashingtonAutomakers head back to Washington yet again this week seeking billions of dollars in government aid. They say the money is needed to keep daily operations going, but what are their chances of getting the funds? What Happens To Retired Auto Workers Now?The grim situation in the auto industry has current and former workers concerned. Retired auto workers and those who took a recent buyout are wondering whether their pensions and health benefits are in jeopardy. Big Three Auto Companies Fine Tune Plea For AidFor decades, America's Big Three auto companies have been an integral part of the economy. Now, struggling to survive, they are pleading for a federal bailout. For more, Farai Chideya speaks with Jerome Vaughn, news program director for WDET in Detroit. Detroit's Big 3 Will Try Again To Get Federal LoansExecutives from the top three U.S. automakers return to Washington, D.C., this week. They're going to try, again, to convince Congress to give them federal loans. They say they need the money to avoid an industry collapse. Two weeks ago, Congress sent them away empty-handed. Egypt's Suez Canal Threatened By Somali PiratesThe increased piracy off the Somali coast is threatening to reduce traffic through the Suez Canal, one of Egypt's economic mainstays. Some shipping companies are already ordering some vessels to travel around the horn of Africa to avoid the pirate-infested waters leading to the canal. Egypt is at risk of losing billions of dollars in revenue.