Latest News and Stories

23
Bailout Plan a Hard Sell, but it seems it is not a bailout for main street.

Skeptical reception the calls to enact the financial rescue plan quickly. The US economy could grind to a halt if Congress refuses to back its $700bn financial rescue plan, the administration warned on Tuesday as it stepped up efforts to win round doubting members of President George W. Bush’s own Republican party.

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22
What happend to Bush's Doctrine

President Bush's decision to shore up the financial markets with massive government intervention is the latest sign of a broad ideological transformation of his presidency. Bush set out his doctrine and no one will quarrel about its success.

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22
The Wall Street Bailout Plan, Q & A

The Wall Street Bailout Plan, explained for an average reader in a Q & A

Q. The bailout program being negotiated by the Bush administration and Congressional leaders calls for the government to spend up to $700 billion to buy distressed mortgages. How did the politicians come up with that number, and could it go higher?

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20
Shares surge on US bail-out plan

Wall Street shares have rebounded sharply after a proposed US government plan to buy billions of dollars of US banks' bad mortgage-related loans. Dow Jones index jumped 3.8% in early trading, while London's FTSE 100 index was up 8%. With more details of the rescue package would be announced next week.

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16
Fed holds fresh AIG crisis talks as AIG downgrade could prove costly

Fitch Rating downgraded AIG to A, from AA-, saying the company's ability to raise cash is "extremely limited" because of its plummeting stock price. Fed holds fresh AIG crisis talks as AIG downgrade could prove costly Nation's largest insurer hit with first downgrade as it tries to raise cash. Fed asks Goldman and JPMorgan Chase to raise $70B for firm. Shares end down 61%.

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15
Lehman Brothers set to file for bankruptcy

The fall is a move that will spread further unease about the state of global economies. American financial giant Lehman Brothers is to file a petition under Chapter 11 of the US Bankruptcy Code. The move usually allows companies to reorganise their contractual and debt obligations under the supervision of a bankruptcy court.

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12
XL holiday firm collapse: Tens of thousands of Britons stranded abroad

Credit Crunch forced a decision to place XL Leisure Group into administration has also left thousands of staff facing the axe. There are 67,000 stranded who booked directly with XL, and another 23,000 who booked via other companies.

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06
Racism is the only reason that McCain might beat Obama.

Yet Barack Obama, with every natural and structural advantage in the presidential race, is running only neck-and-neck against John McCain, a sub-par Republican nominee with a list of liabilities longer than a Joe Biden monologue.

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30
Why McCain Picked Palin

John McCain needs to persuade conservatives that he isn't squishy about social issues, he needs to close the gender gap. She's a fresh face to counteract Obama's message of change, and she's about as far outside the Beltway as you can get.

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29
"date with destiny" in Denver, what will change mean to us?

It was to be a date with destiny in front of 85,000 Denver, to accept the Democratic nomination for President of the US, this is Obama's big moment. Obama in a matter of a few months has already pulled off two of the probably the most watched political events globally.

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Other News

London Transport and Virgin Media have named first 80 busiest and major underground stations in London which are all set to receive Wi-Fi services for the Olympics season. Destinations including London Bridge, Oxford Circus, Leicester Square, Mile End, Tower Hill, Tufnell Park, Goodge Street, King’s Cross, Oval, Borough and Victoria are on the list to turn into accessible Wi-Fi hotspots.

The UK economy shrank for the last three months of 2011 - BCC predicts that growth will be flat this year , with one quarter of contraction, but says a full-blown recession is not inevitable if the government acts. It showed that in October, the service sector contracted by (a revised) 0.6%, while in November it grew by 0.6%.

Peacocks chief executive expected to lodge rescue offer for stricken fashion chain, while Past Times is closing 46 stores with the loss of 574 jobs. Peacock employs more than 400 at its Cardiff HQ and nearly 10,000 more across the UK.

Halifax index also shows a 0.9% decline in December 2011 and predicts a broadly stable 2012 … providing the UK can avoid the recession. The price of the average house in the UK is now just over £160,000, said the bank, thanks to a 0.9% fall in prices in December 2011 and a 1.3% drop over the whole of the year.

Europe’s worst financial crisis in generations is forging a new European Union, pushing Britain to the sidelines and creating a more integrated, fiscally disciplined core of nations under the auspices of a resurgent Germany.

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