Job News From: Forbes

Forbes.com: Business News

'Pyramid Banks' Come To Colombia Hundreds of thousands of people may lose savings to unstable financial institutions. The Newspaper Guild's New Pitch: Survival The dwindling union thinks mass layoffs may convert more shops. Some sales technique. Rebuilding Global Markets The latest analysis and commentary from across Forbes.com. Two Girls Two Countries One Cancer Obamacare is coming, and a lot of Americans find socialized medicine to be scary. But in treating life-threatening disease, the British system isn't as bad as you might have expected. Pfizer's Nigerian Nightmare After years of legal maneuvering, Pfizer may soon face its Nigerian guinea pigs in court.

Job News From: Yahoo! Business

Yahoo! News: Business Fri, 21 Nov 2008 10:34:52 GMT

Wall Street futures shoot up (Reuters) Reuters - Stock futures pointed to a rebound on Friday after sharp losses in the previous session. Dow Jones futures were up 3.9 percent, S&P 500 futures were up 4.5 percent and Nasdaq futures were up 3.9 percent at 5:03 a.m. EST. Democrats demand Big 3 offer survival plan (Reuters) Reuters - Democratic congressional leaders, seeking to salvage a bailout of the Big Three automakers, demanded executives provide a business survival plan in exchange for their support of up to $25 billion in loans. Citigroup eyes options, including merger (Reuters) Reuters - Citigroup Inc lost more than one-quarter of its market value on growing worries over whether it has enough capital to withstand billions of dollars of potential losses and despite new support from its largest individual investor. Fannie Mae, Freddie Mac suspend some foreclosures (Reuters) Reuters - Fannie Mae and Freddie Mac, the two biggest U.S. home loan finance companies, on Thursday said they would suspend foreclosures of occupied homes until early 2009, as the government moves to stem the tide of home losses plaguing the economy. Honda to cut more production (Reuters) Reuters - Honda Motor Co (7267.T) said it would build fewer cars in Japan, Europe and North America to reflect an increasingly bleak outlook for sales as the global economic crisis discourages big-ticket purchases. Philippine stock index tumbles 4.1 percent (AP) AP - Philippine shares tumbled for the second straight session Friday as a broad sell-off by foreign investors dragged down local heavyweights. Report: Ford Germany needs no state bailout money (AP) AP - Bernhard Mattes, chief of Ford Motor Co's. German unit, said that while the company can survive without a bailout from the German state, it hopes the European Union will help the ailing auto industry with a loan package. British retailers discount to lure shoppers (AP) AP - Britain's top retailers are hoping unusual pre-Christmas discounts can convince consumers to open their wallets during a holiday season that coincides with a looming recession.

Job News From: NPR

NPR Topics: Business Fri, 21 Nov 2008 06:00:00 -0500

Lending Stalls, Banks On SidelinesStock prices are at six-year lows. Over the past two days the Dow Jones industrial average has lost more than 6 percent of its value. The $700 billion bailout was supposed to stabilize the financial industry and get banks lending again. But that hasn't happened yet. Sen. Dodd Frustrated By Banks' Use Of FundsChristopher Dodd, chairman of the Senate Banking Committee, says he's frustrated with how banks are using funds provided by the government. He also thinks the Treasury Department has been too slow in addressing the mortgage crisis. Dodd tells Steve Inskeep that Congress may have to reconsider some parts of the rescue plan it approved. Will Credit Rating Agencies Be Monitored?The G-20 last weekend committed to exercising strong oversight of credit rating agencies. Many of the financial instruments that are at the heart of the financial crisis had been given triple-A ratings, meaning they were supposed to be of the highest quality. That turned out to be wrong. Will the G-20 declaration change anything? Congress Gives Automakers HomeworkLawmakers considering a $25 billion aid package for the auto industry made getting a plan from carmakers a condition for getting the money. House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid say if there's a viable plan, Congress might return to work in early next month for a vote. Car Battery Needs To Keep Going And GoingOne of the buzzwords at the Los Angeles Auto Show is "electrification." It's a future where cars run solely on battery power. Paul Eisenstein of The Detroit Bureau, an independent auto news service, says that future is still a ways off. He tells Steve Inskeep that for electric cars to succeed, they'll need a battery that lasts for more than 100 miles before a recharge. Cobalt Location A Problem For Lithium-Ion BatteriesA rush to build electric cars could also mean a rush to get minerals that are produced in unstable parts of the world. Lithium-ion batteries require large amounts of cobalt, which comes primarily from the war-torn Democratic Republic of Congo, Tibet and Siberia. Easing dependence on foreign oil could mean increasing dependence on foreign minerals — from even less reliable trading partners than the Persian Gulf states. Citigroup Weighs Company's OptionsThe financial crisis is closing in on Citigroup. The banking colossus has more than 200 million customers around the world. But investors are increasingly worried about Citigroup's financial condition. Its share price tumbled more than 25 percent Thursday. CEO Vikram Pandit is weighing his options, and they include selling off parts of the company or selling the whole company. Citigroup lost half its value this week and is trading at levels not seen since the mid 1990s. Oil Prices Hovering At 3-Year LowOil prices dipped below $50 a barrel Thursday. While that may sound like pleasant news, the low price is actually a symptom of a weak economy. Wall Street Too Real? Try Fantasy InvestingThere are all kinds of fantasy games — fantasy football for example. Now you can try your hand at fantasy investing. Fantasy enthusiasts say there's never been a better time to go virtual. Last Word In BusinessSteve Inskeep has the Last Word in business. Bush Hits Deadline For 'Midnight Regulations'There are now 60 days left until President Bush leaves office and President-elect Barack Obama is sworn in. By law, there is a 60-day waiting period before any big, new federal regulations take effect. That means Friday is the deadline set by the Bush administration to get rules onto the books before the Democrats arrive. Congress Stalls Automakers' Bid For ReliefAfter the Big Three auto executives spent two days seeking support on Capitol Hill for a bailout, the grand finale is no finale at all. Democratic leaders say they are delaying a vote until the auto companies present a plan showing how they will restructure their business. GM, Chrysler Keep Low Profile At L.A. Auto ShowAmid job cuts, restructuring and pleas to Congress for financial aid, General Motors and Chrysler are represented, but not making much of a splash, at this week's Los Angeles Auto Show. Addressing The Threat Of DeflationAs central banks continue to slash interest rates almost to zero, prices can plummet. It creates a liquidity trap, as it did in the 1930s and in Japan during the 1990s. Harvard economist Kenneth Rogoff outlines what deflation could mean for modern America. Restored Fontainebleau Graces Miami BeachThe Fontainebleau Hotel was once the height of Miami Beach sophistication. Now the hotel will reopen after a $1 billion renovation, but it's not clear the Florida economy is ready to support it.