Browsing: NewsWire

Often updated major headlines and interesting news for the world of business, financial markets, and other global economic & financial news.

In the UK, a full-blown recession is now unfolding: export growth set to collapse, credit crisis to hit investment, but consumption benefiting from lower oil prices.

Ford Motor Co., General Motors Corp., and Chrysler LLC are all queuing up for cash as sales demand has dropped to record lows amid the global recession.

The US government is pumping liquidity into its banks in return of a stake. Treasury Secretary Paulson announced plans of using $250 billion taxpayer’s money to make investments in nine banks, for a start.