Monday, November 17, 2008
Citigroup plans 50,000 job cuts in latest jolt to Wall Street
Citigroup plans 50,000 job cuts in latest jolt to Wall Street
TARGET SUSPENDS BUYBACK AS PROFIT DROPS 24%
Target Corp. says its fiscal third-quarter profit drops 24%, hurt by
consumers paring back on discretionary spending and failing to make
their credit card payments.
TOP SIX GOLDMAN SACHS EXECS FORGOING 2008 BONUSES: WSJ
Pressured by an almost-unprecedented financial meltdown and a
gathering outcry over executive pay on Main Street, Goldman Sachs
reportedly will pay no bonuses in 2008 to its top management -- a move
that may set the precedent across a troubled Wall Street.
Switzerland's UBS also takes steps to reform policies on
executive pay.
ECONOMIC REPORT: ECONOMISTS MORE BEARISH ON ECONOMY, NABE SURVEY SHOWS
The U.S. is in for a "prolonged" recession dragging into 2009, and
joblessness may climb to a 7.5% rate, a full percentage point higher
than the current unemployment rate, the National Association for
Business Economics says.
ECONOMIC REPORT: INDUSTRIAL OUTPUT COMES BACK PART WAY FROM STORMS
Output of the nation's factories, mines and utilities partially
rebound in. October from September's sharp weather-related slump, the
Federal Reserve reports.
