 US jobless rate at 8.1% : As per the Labhor Department data released yesterday 6,51,000 jobs lost in February pushing unemployment rate in the US to 8.1% from 7.6 percent in January. 7 Mar 09 |  RBS posts biggest loss in UK history : The Royal Bank of Scotland reported a $34.2 billion (Rs 1,72,000 crore) loss in 2008, which is the biggest annual loss in the UK corporate history. 6 Mar 09 |
| US Banks post 1.31 lakh crore loss : US commerical banks insured by the Federal Deposit Insurance Corporation (FDIC) posted a collective loss of Rs 1.31 lakh crore in the Oct-Dec quarter of 2008. 6 Mar 09 |  Dow Jones plunges to six year low : The Dow Jones industrial average plunges to six year low as financial stocks plunges to a 14-year low. 25 Feb 09 |
 G M to Cut 10,000 Salaried Workers : General Motors Corp. on Tuesday announced that it would cut 10,000 salaried jobs, or 14 percent of its global work force, by the end of this year. 13 Feb 09 |  Global Financial Crisis : who is responsible ? : As global financial crisis spreads to more regions the blame game started between Asian, European and American countries about the root cause of the problem. 3 Feb 09 |
| U.S. GDP shrank 3.8% in Q4, most since 1982 : The U.S. economy shrank at an annual rate of 3.8 percent in the fourth quarter of 2008, the weakest quarterly showing since the first quarter of 1982, the Commerce Department reported Friday. 31 Jan 09 |  US House passes 40 lakh crore economic package : In a major development US House of Representatives has passed a 40,13,100 crore economic stimulous package to revive the US economy. 9 Feb 09 |
 British Pound plunges to multi-year low : The British Pound plunged again on Tuesday against major world currencies as the U.K.'s second bank bailout in three months failed to calm the struggling financial sector. 23 Jan 09 |  Financial crisis spreading to gulf countries : Global financial crisis has hit hard on oil rich gulf countries mainly due to the 75% drop in the international crude prices and large scale investment in US financial sector from these countries. 20 Jan 09 |
 How to survive recession : Many people are comparing this recession with that of 1930s. We can choose to sit around and blame the banks and the Government but complaining will not make one bit of difference. 20 Jan 09 |  Circuit City to shut all stores and to lay off 34,000 employees : Circuit City Stores, America's second largest consumer electronics chain, on Friday announced that it was going out of business and shutting down of its remaining 567 stores in the US. 18 Jan 09 |
 26 lakh jobs lost in 2008, biggest since World War II : US labor department released another sobering report on Friday showing 5.24 lakh job loss in December, bringing the total 2008 job loss count to 26 lakhs, biggest since 1945. 12 Jan 09 |  Fed slashes interest rate to near zero : In a surprise move US Federal Reserve slashed its key interest rate to a range between 0% and 0.25% to stimulate the economy. 17 Dec 08 |
| US Fed to cut interest rate towards zero : United States central bank, Federal Reserve today expected to cut interest rate for the 10th time in last one year to stabilize the sliding economy. 16 Dec 08 |  World Bank forecasts global recession in 2009 : The World Bank predicts global recession in 2009. The current economic crisis is some regions of the world will widen to other parts. 10 Dec 08 |
 Global economy to be depressed until 2011 or even beyond : The 2008 Nobel economics prize winner Paul Krugman on Monday said that global economy would continue its downtrend for at least till 2011 or even beyond. 12 Dec 08 |  BMW sales down, Honda quits Formula One : Carmakers worldwide are feeling the pain of global credit crisis and economic downturn as people around the world are cuting their extra expenses due to massive lay offs and other financial issues. 5 Dec 08 |
 AT&T to cut 12,000 jobs : America's largest telecommunications company AT&T on Thursday announced 12,000 jobs cuts as a measure to cut costs. 9 Dec 08 |  Banking crisis continues, Citi plunges to below $4 : Banking sector woes continues in the US as its one of the largest financial group, Citi continues to be under pressure on uncertainty about its future. 23 Nov 08 |
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