Financial news on January 3rd, 2009
Business and Financial news
The management of Bank Medici, which has emerged as one of the largest victims of the Madoff scandal, resigned, leaving day-to-day operations in the hands of an overseer. Read more..
The country’s trade surplus narrowed to a six-year low in 2008, propelled by a deepening economic slowdown that curbed demand for exports. Read more..
Researchers have found that uncertainty about things such as job security can sometimes take a greater toll than bad news. Read more..
Credit card companies are rushing to settle even if that means forgiving a portion of some borrowers’ debts. Read more..
An era of desperation marketing is at hand as retailers adopt virtually any tactic that might grab the attention of frightened consumers. Read more..
The agreement settles claims in California that the company had engaged in deceptive marketing of loans to customers against their expected tax refunds. Read more..
New reports from the world’s leading economies showed manufacturing continuing to slump amid the worst slowdown since the Great Depression. Read more..
The department-store company will stop matching contributions to its workers’ retirement plans on Jan. 31. Read more..
Many economists are heading into the new year declaring that the worst may soon be over. Others are pessimistic. Read more..
In 60 of the last 80 years, the performance of the S.& P. 500 in January has accurately predicted whether stocks would end higher or lower for the full year, one analyst said. Read more..