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Alcatel-Lucent to Cut 1000 Manager Jobs, Trim Costs – Bloomberg

admin — Fri, 12 Dec 2008 09:08:22 +0000

Alcatel-Lucent to Cut 1000 Manager Jobs, Trim Costs
Bloomberg -49 minutes ago
By Phil Serafino Dec. 12 (Bloomberg) — Alcatel-Lucent SA, the world’s largest maker of fixed-line networks, will cut 1 billion euros ($1.3 billion) of costs in each of the next two years, including 1000 more managerial jobs, as Chief Executive Officer …
Alcatel-Lucent: Major Strategic Transformation and Realignment of …FOXBusiness
Alcatel Plans Cost Cuts, Strategic ShiftWall Street Journal
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admin — Fri, 12 Dec 2008 09:08:18 +0000

Australian Dollar Falls as US Senate Rejects Carmaker Bailout
Bloomberg -2 hours ago
By Candice Zachariahs Dec. 12 (Bloomberg) — The Australian dollar dropped from a one-month high against the US currency as talks on a $14- billion rescue for the US auto industry failed.
Dollar hits 13-yr low vs yen as auto bailout diesguardian.co.uk
Dollar falls to 13-year low against yenThe Associated Press
Channel News Asia - Wall Street Journal - AFP - Reuters
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admin — Fri, 12 Dec 2008 09:08:15 +0000

South Korea's economic growth to slow in 2009
MarketWatch -1 hour ago
By Sue Chang, MarketWatch SAN FRANCISCO (MarketWatch) — South Korea's economic expansion is expected to slow significantly in 2009 as the global financial crisis drags down gross domestic product growth to its lowest level since the Asian financial …
Economy to dominate Japan, SKorea, China summitInternational Herald Tribune
S.Korea, Japan swap deal could be extended -BOKForbes
Reuters - YTN - AFP - China Daily
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admin — Fri, 12 Dec 2008 09:08:13 +0000

Debt held by US households shrinks for first time
Los Angeles Times -1 hour ago
Economists don't know whether consumers are bringing down their debt voluntarily or whether it's being imposed on them through foreclosures or the denial of credit.
Vital Signs: Economists Expect Another Rate CutBusinessWeek
Fed Intervening To Cut Mortgage RatesForbes
Bloomberg - MarketWatch - Houston Chronicle - Reuters
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admin — Fri, 12 Dec 2008 09:08:12 +0000

Prominent Trader Accused of Defrauding Clients
New York Times -7 hours ago
By DIANA B. HENRIQUES and ZACHERY KOUWE Bernard L. Madoff, a legend among Wall Street traders, was arrested on Thursday morning by federal agents and charged with criminal securities fraud stemming from his company’s money management business.
Bernard Madoff, securities firm founder, charged with fraudLos Angeles Times
Bernard Madoff arrested over alleged $50 bln fraudguardian.co.uk
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admin — Fri, 12 Dec 2008 09:08:10 +0000

Asian Markets Sink on Auto Bailout Collapse
New York Times -3 hours ago
By BETTINA WASSENER HONG KONG – Asia’s stock sank deep into negative territory on Friday in the wake of the collapse of a $14 billion bailout plan for the American auto industry.
Hong Kong shares end morning down 7 pct as US auto bailout …Forbes
Asia stocks drop as Senate rejects US auto bailoutThe Associated Press
International Herald Tribune - Reuters - WHO-TV - Wall Street Journal
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admin — Fri, 12 Dec 2008 09:08:08 +0000

Bank of America to cut up to 35000 jobs
MarketWatch -5 hours ago
By Alistair Barr, MarketWatch SAN FRANCISCO (MarketWatch) — Bank of America said late Thursday that it plans to cut up to 35000 jobs over the next three years as the financial giant adjusts to a recession and completes the pending acquisition of …
Bank of America to cut up to 35000Seattle Times
Bank of America to cut nearly 35000 jobsNewsday
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admin — Fri, 12 Dec 2008 09:08:06 +0000

California adopts the most sweeping curbs on greenhouse gas …
Los Angeles Times -1 hour ago
The state air board orders a 15% cut in emissions over the next 12 years, bringing them down to 1990 levels. By Margot Roosevelt Reporting from Sacramento — California regulators adopted the nation's first comprehensive plan to slash greenhouse gases …
California climate plan is adoptedDetroit Free Press
California Adopts a Plan on EmissionsNew York Times
San Francisco Chronicle - Reuters - Sacramento Bee - Bloomberg
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admin — Fri, 12 Dec 2008 09:08:04 +0000

GM, Chrysler Survival Options Narrow After Congress Vote Fails
Bloomberg -1 hour ago
By Jeff Green and Nicholas Johnston Dec. 12 (Bloomberg) — General Motors Corp. may be in bankruptcy within weeks, followed shortly by Chrysler LLC, after the US Senate rejected a $14 billion rescue plan and the companies’ options to avert bankruptcy …
Senate plays role of GrinchReuters
Auto Bailout Collapses on WagesBusinessWeek
Wall Street Journal - MarketWatch - CNNMoney.com - Detroit Free Press
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admin — Tue, 21 Oct 2008 05:32:27 +0000

OPEC is Expected to Slash Output
Wall Street Journal -1 hour ago
By NEIL KING JR. and SPENCER SWARTZ OPEC is all but certain this week to slash oil output in a bid to counteract falling demand and a precipitous drop in crude prices.
Crude Oil Rises a Third Day on Signs OPEC Will Reduce OutputBloomberg
Are energy stocks ready for a rebound?Reuters
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