Financial news on October 25, 2008

Business and Financial news
Ailing, Iceland Invites Tourists and Dollars

Iceland is pitching itself as an island of bargains, especially to Americans who hold a suddenly valuable commodity: dollars. Read more..

By GREGORY ROTH - The New York Times

Chrysler to Cut 25% of Salaried and Contract Jobs

The automaker, which is in merger talks with General Motors, said that it would offer buyout and early retirement packages in the next two weeks and that layoffs would follow. Read more..

By NICK BUNKLEY - The New York Times

Corporate Bonds Offer Opportunity

Some bond specialists contend that prices are so low and yields so high that they are immune from anything short of disaster — and maybe even that, too. Read more..

By CONRAD DE AENLLE - The New York Times

Despite Crisis, Germany Sees Russia as Land of Opportunity

The marriage of business interests between Russia and Germany is strengthening even as the global financial crisis deepens. Read more..

By JUDY DEMPSEY - The New York Times

Georgia Bank Is Shut by Regulators

Alpha Bank & Trust of Alpharetta, Ga., was closed by regulators, the 16th United States bank seized this year. Read more..

By BLOOMBERG NEWS - The New York Times

In Defense of That Daily Visitor, Unsolicited Mail

Michael J. Critelli, executive chairman of Pitney Bowes, discusses unsolicited mail and its affect on the environment. Read more..

By WILLIAM J. HOLSTEIN - The New York Times

Ingersoll-Rand Says It Will Cut Jobs and Close Plants

The maker of Thermo King and Hussmann refrigeration equipment reported slowing sales. Read more..

By BLOOMBERG NEWS - The New York Times

Mortgage Threat From Hedge Funds Irks Democrats

Democratic lawmakers lashed out at hedge funds that have threatened to block attempts to renegotiate mortgages for struggling homeowners. Read more..

By BARRY MEIER - The New York Times

Sales of Test for Ovarian Cancer Halted

Sales of the controversial blood test were halted after a warning from the Food and Drug Administration. Read more..

By ANDREW POLLACK - The New York Times

So When Will Banks Give Loans?

The banking industry’s dirty little secret is that it has no intention of using the bailout money to make new loans. Read more..

By JOE NOCERA - The New York Times

See what else happened on October 25, 2008