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Governments struggle to cope with rising unemployment
WASHINGTON (AFP) - Companies worldwide slashed jobs Thursday as the global financial crisis deepened, leaving authorities scrambling to cushion the blow and prompting the launch of a French state investment fund.
Nations:Sweden South Korea France Spain People:Nicolas Sarkozy Harry Reid George W. Bush Hu Jintao Activities:Global Financial Crisis
2008-11-20
Putnam Investments to cut 47 jobs, merge funds
BOSTON - Putnam Investments said Monday it will cut 47 jobs, including 12 portfolio managers, and merge six of its stock mutual funds into larger funds under a restructuring by the company's new top executive.
Nations:Canada Source:(AP)
2008-11-17
Sovereign wealth funds turning cautious: analysts
SINGAPORE (AFP) - Cash-rich sovereign wealth funds from Asia and the Middle East may be turning cautious after getting burnt by investments in Western firms hit by the current financial turmoil, analysts said.
Nations:United Arab Emirates Kuwait U.S. Activities:Global Financial Crisis Source:(AFP)
2008-11-09
Vanishing jobs, stressed consumers feed downturn
WASHINGTON - Ford plans to cut about 2,260 more jobs, the latest in a vicious cycle of vanishing jobs and stresses on American consumers that is spelling deeper trouble for the already sinking U.S. economy.
People:Nancy Pelosi Activities:2008 U.S. Recession
2008-11-07
China gives Agricultural Bank $19 billion bailout
SHANGHAI, China - The Chinese government has given the Agricultural Bank of China a $19 billion bailout in a major step toward restructuring the rural lender as it prepares to issue publicly traded shares.
Source:(AP)
2008-11-07
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