What the Finance

Woolworths was about to celebrate its 100th birthday this year, but instead of appointing party organizers to celebrate its century long history of success it had to appoint administrators after a vain last minute attempt to sell stores to raise cash.

Iceland’s stock market index (OMX Iceland 15 Index) has hit rock bottom, losing 77.22% of its value in a single day. Iceland’s benchmark index last value was standing at 3004.62, when regulators decided to halt trading to prevent a freefall. The stock market suspension lasted for 3 days, since 9th of October and it was [...]

Regulators halt stock trading in emerging-market exchanges. Is this for real? Further turmoil, instability and more less of everything (cash, investments, credit) is the emerging markets world’s response to greedy Wall Street today. The last week has been the worst for the emerging markets in almost a quarter of a century, and for some stock [...]

In a dramatic blow for Bush administration and his team of economists, the Congress finally rejected the $700 bailout package plan. The decision has sent shock waves

Lehman Brothers Holdings Inc has been forced to file for bankruptcy after spending a weekend trying to persuade either Barclays Plc or Bank of America, that the biggest underwriter of mortgage-backed securities still has some worth. He failed.

‘Fannie and Freddie’ - it sounds like the title of happy Disney family movie, but yet to many these two names are the equivalent of a horror film they do not necessarily want to watch.

Good news for business owners – bad news for property developers. The global credit crunch is now taking a bite of office lease rents. The mortgage meltdown is finally reaching its tentacles into commercial real estate both in the US and in the UK.

General Motors, one of the world’s largest auto manufacturer, faces liquidity problems that could eventually lead the largest US automaker to bankruptcy,

Investment banks and other financial institutions have been bombarding the world with losses reports for the past several months. Having lost account of the amount of losses incurred since the rise of the subprime mortgage crisis.
I am not sure about you, but I was certainly dying to sum it all up and just stand and [...]

Merrill Lynch & Co. posted a $6.5 billion on mortgage writedowns, the third straight quarterly loss. Mother Merrill Lynch, as people who worked there used to call it, announced shortly after that it is cutting around 3,000 jobs. CEO, John Thain, said today he is expecting to face even more difficult months going forward.
Merrill Lynch’s [...]