Latest News and Stories

Entries for September 2008

Lawmakers Grope for Resolution as They Attempt to Avoid Economic Calamity
House of Representatives voted 228-205 to reject a $700 billion rescue the financial industry. In a moment of historic drama in the Capitol and on Wall Street, the House of Representatives voted 228-205 to reject a $700 billion rescue of the financial industry.

Read More

Fate of Bailout Plan Remains Unresolved as Talks Implode During Day of Chaos.
After several hours of discussions with President George W Bush, a group of Republican members of Congress blocked the government plan. The proposal would have seen the government buy bad debts from US banks. Without a swift rescue package more finance companies are expected to ...

Read More

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 Ge...

Read More

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.

Read More

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 com...

Read More

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 b...

Read More

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 ...

Read More

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 obligation...

Read More

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.

Read More

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.

Read More

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.

Services
web

Application Development

app

Blockchain

CMS

Advanced CMS