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PWC: Lehman US owes Europe $8bn
Just one of many risky practices Lehman Brothers seems to have been engsged in was storing money belonging to the European headquarters of the firm in New York overnight to earn interest. It seems that in the final days before the firm's collapse, that money was not returned...
Bush launches $700bn rescue plan and confesses he didn't realise how severe p...
It saddens me to see this outcome, when there has been plenty of forewarning about the potential impact of this Real Estate Boom Bust cycle. Now, once again, the tax payers must carry the responsibility for...
created by Maireid Sullivan | 1 year ago | updated 1 year ago
453 views | 56 recommendations | 9 comments
453 views | 56 recommendations | 9 comments
US budget deficit seen at $438bn
According to the latest Capitol Hill estimates, the US government will run a near-record deficit of $407 billion this year. However the actual figure is likely to be much larger than this, because it is not taking into account the recent bailout of the nation's two biggest... US gives $1bn to rebuild Georgia
Georgia suffered huge loss and also had damages in the Russian air strikes in the recent flare up.European Union leaders have suspended talks on the new agreement with Moscow until Russian troops are withdrawn from Geogia.Russian has threatned to respond to the growing... U.S sending 1 BILLION to Georgia to rebuild
The United States are ear marking a billion dollars for Georgia to aid the rebuilding after their recent conflict with Russia. As well the IMF (international monetary fund) has decided to loan Georgia 750 million to help them regain the progress they've been making" ...
created by Marcel Pellerin | 1 year ago | updated 1 year ago
166 views | 10 recommendations | 1 comment
166 views | 10 recommendations | 1 comment
BAE in £2bn MoD ammunition deal
"BAE Systems has signed a 15-year deal with the Ministry of Defence (MoD) to supply the UK armed forces with small arms and medium-calibre ammunition. It also includes mortar bombs, tank, artillery and naval gun shells, but not weapons such as guided missiles. The contract...Wal-Mart to invest $1bn in Brazil
Under developmentAttack of the big box store "You will be assimilated" It says something when during scary economic times in the world a company lays out a Billion Dollar expenditure. " ...Merrill set to sell Bloomberg stake for $4.5bn
Some interesting news for those who follow the fate of Michael Bloomberg. It seems the meltdown in the financial sector has allowed him to buy back a big stake of his empire from Merrill Lynch."Merrill Lynch is set to sell its 20 per cent stake in Bloomberg for about...UK to invest $250 bn investment in green energy
" The move is being fuelled by the UK's looming energy crisis. Within five years, many of the existing nuclear and coal power stations will be shut - leaving a gaping hole at the heart of the national grid....Karzai wins $20bn aid for Afghanistan
Even as Western countries are awarding Afghanistan with a huge package of aid, they are expressing concern over whether the Afghan government is combating corruption and making sure the money goes to rebuilding...US issues threat to Iraq's $50bn foreign reserves in military deal
"By Patrick Cockburn–The Independent, Friday, 6 June 2008–The US is holding hostage some $50bn (£25bn) of Iraq's money in the Federal Reserve Bank of New York to pressure the Iraqi government into signing an...
created by Maireid Sullivan | 1 year ago | updated 1 year ago
346 views | 5 recommendations | 3 comments
346 views | 5 recommendations | 3 comments
Baggage halted at new £4.3bn T5
"Flights from Heathrow's new £4.3bn Terminal 5 are departing with hand baggage only after luggage check-in was suspended due to a processing backlog.British Airways, which has sole use of T5, announced check-in of all hold luggage was suspended until Friday.The airline has... $110 billion evaporates in market bloodbath
People who have read anything I've reported, know that I don't just quote an article. I'll usually take a quote from of the article, then add my own report to the quote.However, this time, there's simply... Morgan Stanley bailed out by Beijing after $9bn write-off
More bad news for the economy and the banking sector as the slide continues."Morgan Stanley yesterday became the latest bank to announce a bailout from a foreign government as the Wall Street firm reported the first quarterly loss in its 73-year history after taking... Swiss bank loses €6.8bn over subprime crisis
"Swiss bank UBS has announced €6.8bn in losses due to exposure to the US subprime mortgage crisis. The bank, which is the biggest in Europe in terms of its assets, obtained emergency funds from the Government of Singapore and an unnamed Middle East investor. The scale of...
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