Job News From: Forbes

Forbes.com: Business News

The Best-Paid Celebs Under 30 They've learned early that diversifying income is key to success. Rebuilding Global Markets The latest analysis and commentary from across Forbes.com. How Low Can Banks Go? Financial shares tumble again as quarterly results approach. Plimpton Revisited A new book sparks the rediscovery of one of the media's true originals. Delegates Tackle Climate Change In Poznan Countries hope to make some progress during negotiations over Kyoto Protocol successor.

Job News From: Yahoo! Business

Yahoo! News: Business Tue, 02 Dec 2008 02:58:34 GMT

Dow loses 679.95 as economy, Bernanke revive fear (Reuters) Reuters - Stocks tumbled on Monday as signs of a deepening economic slump around the world erased much of last week's sharp gains, with banks and retailers among Wall Street's biggest casualties. JPMorgan to cut 9,200 Washington Mutual jobs (Reuters) Reuters - JPMorgan Chase & Co said on Monday it will eliminate about 9,200 jobs at the former Washington Mutual Inc , which on September 25 became the largest U.S. bank to fail. U.S. automakers rush to finish plans for Congress (Reuters) Reuters - U.S. automakers led by General Motors Corp on Monday rushed to finish restructuring plans demanded by Congress before lawmakers reopen the debate this week on the $25 billion in emergency funding the industry says it needs to survive. Bernanke says Fed has options as rates near zero (Reuters) Reuters - Federal Reserve Chairman Ben Bernanke on Monday urged decisive action to protect the economy and said the central bank had alternative tools it could employ to help as interest rates approach zero. Tata's Corus to cut work hours of 4,600 staff: report (Reuters) Reuters - Tata Steel unit Corus has applied for Dutch government financial aid to temporarily reduce the work hours of 4,600 workers to cope with the global economic slowdown, Dutch news agency ANP reported on Monday. World markets slump on economic gloom (AP) AP - World stocks slumped Monday, giving up about half of last week's gains after a raft of weak economic data from the U.S., Europe and elsewhere renewed fears that the global economy is in the midst of a prolonged economic downturn. Investors sue Countrywide to force loans purchase (Reuters) Reuters - A group of bond investors sued Bank of America -owned Countrywide Financial on Monday demanding that Countrywide buy every mortgage loan for which it agrees to reduce payments under a predatory lending settlement deal. General Growth Properties gets loan reprieve (AP) AP - General Growth Properties Inc. has received a two-week extension on mortgage loans totaling $900 million, as the troubled shopping mall owner works to stave off bankruptcy and negotiate longer-term extensions with lenders. Retailers offer deals, discounts on 'Cyber Monday' (AP) AP - Retailers who saw Thanksgiving holiday sales drop off as the weekend progressed stepped up online promotions on the day known as "Cyber Monday" to try to get consumers tired of the crowds at stores to keep shopping.

Job News From: NPR

NPR Topics: Business Mon, 01 Dec 2008 16:00:00 -0500

Group: Recession Began In Dec. 2007The National Bureau of Economic Research says the United States has officially been in a recession since December 2007. A recession is sometimes defined as two consecutive quarters of negative growth, but the private group uses a more precise measure. Dow Plunges 680 Points; Recession Is OfficialThe National Bureau of Economic Research says the U.S. economy has been in recession since December 2007. Many economists believe the current downturn will last until the middle of 2009, and will be the most severe slump since the 1981-82 recession. Car Dealerships' Woes Impact Local GovernmentsThe Big Three's financial problems are trickling down to dealerships across the country. Many local governments depend on tax revenues from dealers but are now experiencing huge losses. The city manager of Monroeville, Pa. discusses how failing dealerships are affecting his city's revenues. How Big Three Could Win Over WashingtonAutomakers head back to Washington yet again this week seeking billions of dollars in government aid. They say the money is needed to keep daily operations going, but what are their chances of getting the funds? What Happens To Retired Auto Workers Now?The grim situation in the auto industry has current and former workers concerned. Retired auto workers and those who took a recent buyout are wondering whether their pensions and health benefits are in jeopardy. Big Three Auto Companies Fine Tune Plea For AidFor decades, America's Big Three auto companies have been an integral part of the economy. Now, struggling to survive, they are pleading for a federal bailout. For more, Farai Chideya speaks with Jerome Vaughn, news program director for WDET in Detroit. Detroit's Big 3 Will Try Again To Get Federal LoansExecutives from the top three U.S. automakers return to Washington, D.C., this week. They're going to try, again, to convince Congress to give them federal loans. They say they need the money to avoid an industry collapse. Two weeks ago, Congress sent them away empty-handed. Egypt's Suez Canal Threatened By Somali PiratesThe increased piracy off the Somali coast is threatening to reduce traffic through the Suez Canal, one of Egypt's economic mainstays. Some shipping companies are already ordering some vessels to travel around the horn of Africa to avoid the pirate-infested waters leading to the canal. Egypt is at risk of losing billions of dollars in revenue. What Toys Sell In An Economic Downturn?Toy sellers and manufacturers are worried about smaller profits this year. Nicholas Casey, who covers the toy industry for The Wall Street Journal, says the perfect toy will be something that is inexpensive. Some stores have already come out with long lists of toys under $10. A Check On How Retailers Are DoingBlack Friday was not as bad as many retailers had expected. One estimate shows American shoppers spent 3 percent more on the first day of the holiday shopping season than last year. To find out how some retailers did, we check in with a high-end mall in a St. Louis suburb, an outlet mall in San Marcos, Texas, and an online retailer in Boston. Ex-Fed Economist Looks To New AdministrationGovernment officials have been working to restore confidence in the economy. Allan Meltzer, a former Fed economist who teaches at Carnegie Mellon University, says he has been unimpressed so far with the government's actions. Meltzer tells Steve Inskeep that he has higher hopes for President-elect Barack Obama's economic team. Online Traffic Bodes Well For Cyber MondayHoliday shoppers aren't just snapping up bargains in stores this weekend — they're prowling the Internet, too. Online shopping traffic was up 10 percent on Black Friday — a good initial sign for retailers in a shaky economy. Economy Focus Of Obama, Governors MeetingPresident-elect Barack Obama will meet Monday with governors from across the nation to discuss the potential plans for an economic stimulus package. Two of the governors who will be present — Republican Jim Douglas of Vermont and Democrat Chris Gregoire of Washington — talk to Andrea Seabrook about economic stimulus from the states' point of view. Used Clothing Stores Enjoying DownturnThe nation's retailers are struggling. A slumping economy has kept shoppers out of stores from Saks to Abercrombie & Fitch to Gap. But for one small sector, the downturn has brought an uptick in business. In Game Of Super Bowl Ads, GM ForfeitsThis year, longtime Super Bowl advertiser GM looked at its showrooms, looked at the balance sheet, looked at the $3 million price tag — and opted out.