Financial news on November 15th, 2008
Business and Financial news
Retail sales fell 2.8 percent last month, led by a huge drop in auto purchases, as the financial turmoil and the slumping economy caused consumers to sharply cut back. Read more..
Sun Microsystems has started a restructuring that could see up to 6,000 employees lose their jobs as it joins a growing list of technology companies reeling from the crisis. Read more..
At a House hearing, Barney Frank used a witness to send a strong message to the securitization industry. Read more..
With the global economy slipping into its most serious downturn in decades, the Group of 20 is said to seem likely to agree on a few modest measures. Read more..
In the span of a few weeks, orders for technology products have collapsed and workers have been laid off. Read more..
The economy of the euro zone slipped into recession during the third quarter, the European Union’s statistics agency confirmed. Read more..
The freeze in credit markets and a collapse of the city’s real estate market have made the financing of the Winter Games a critical issue. Read more..
Santanu K. Baruah, acting administrator for the Small Business Administration, discusses the changes the agency is making to help small companies weather the economic downturn. Read more..
The White House urged Congressional Democrats to speed up access to $25 billion in federal loan guarantees for ailing U.S. automakers. Read more..