Deutsche Bank Issue Profit Warning
Deutshe Bank – Germany’s largest commercial bank – issued a warning that it lost an estimated 4.8 euros ($6.4 B USD) in the fourth quarter last year. More
UK Unemployment Soars as Employers Cut Costs
On the same day that unemployment in Britain surpassed 1.85 million people, several high-profile companies announced deep cuts including Barclays which is eliminating 4,200 jobs and Jaguar Land Rover which is cutting 450 workers. Some analysts expect unemployment in Britain to reach 3 million by the end of the year. More
U.S. Retail Sales Down 2.7%
The U.S. Commerce Department reported today that retail sales for the month of December fell by 2.7 percent. The December results represent the sixth straight month of declining retail sales.More
Canadian Government Expected to Present Budget with $40 Billion Deficit
Canada’s minority Conservative government which has been under pressure to provide additional economic stimulus to help the country battle a deepening recession, is expected on Thursday to present a budget with a CAD$40 billion (US$ 34 billion) deficit. This will be the country’s first deficit in 12 years. More
