Merrill Lynch’s John Thain lands new job with CIT
Merrill Lynch’s John Thain lands new job
• Thain was criticised over bonuses and expensive office refurbishment • New role as head of CIT, troubled US lender, could net him $5.5m in shares John Thain, the former boss of Merrill Lynch, returned to the busin[...]
US and China: Tetchy twins
A year ago, China Daily gushed with upbeat epithets about the co-operation between the US and China. The relationship was already effective and smooth on trade, Taiwan and global warning. With two firm multilateralists,[...]
Wise old men of American finance are called back to fight recession
Paul Volcker, Warren Buffett and George Soros have new status as America sees the value of age and experience Youth, flair and intellect can only get you so far. As the worst recession since the 1930s grinds the nation [...]
Innocent victims of the subprime crisis | Sasha Abramsky
In spite of a law protecting tenants, people who rent across the US are being illegally evicted even if their finances are fine “What happens often is that after a foreclosure, a broker or an agent comes to the ho[...]
Obama’s muddled solutions | Joseph Stiglitz
The president is trying to please everyone, but he needs to take tough action to prevent the US economy’s second freefall Defeat in the Massachusetts senatorial election has deprived US Democrats of the 60 votes n[...]
It’s still the economy, stupid | Richard Adams
At the end of a rough couple of weeks, some good news for the Obama administration: falling unemployment It might not sound like much, but a surprise dip in the US unemployment rate is the best piece of news the White H[...]
FTSE falls again amid US jobs fears
FTSE is down in early trading as investors worry over US unemployment and rising government deficits in southern Europe The FTSE sell-off continued this morning, tracking losses in Asian stock markets overnight on Europ[...]
Markets fall on widening deficit fears and rising US unemployment
• Markets worry that Greece’s debt crisis could spread to Spain and Portugal• Surprise jump in American jobless figures adds to concern over double-dip recession Financial markets tumbled around the world tod[...]
Burger King sales fall again
• Third quarterly sales drop in a row worries Wall Street• Firm seen as focusing on existing customers as rival McDonald’s seeks new markets The Whopper is having a shocker. The world’s second-largest h[...]
