To adapt to falling consumer demand, Nokia, the world's top cellphone maker, has announced it would axe 1,700 jobs worldwide over the coming few months as part of a major cost-cutting plan in the wake of the financial crisis.
In a rare interview with the press, the chairman of the US Federal Reserve praised the current administration's efforts to restore confidence in the economy, saying the recession will likely end this year with a recovery following in 2010.
G20 finance ministers have edged closer to common ground on the need for tighter markets regulation, before a key summit on tackling the economic crisis. Countries are still split, however, on the need for more stimulus measures.
Finance ministers of the world's 20 biggest economies met near London on Saturday to discuss reforms ahead of the G20 summit on April 2. The UK's Alistair Darling (photo) stressed the need to restore lending and boost IMF resources.
Africa has been hit hard by the global economic downturn. FRANCE 24 is in Dar es Salaam, Tanzania to discuss the IMF conference on Africa, the impact of the crisis in the region and the challenges ahead.
The Paris book fair has reason to rejoice: French publishing has resisted the financial crisis through diversification and minimal debt. Despite the decrease in overall purchasing power, the French still consider books their gift of choice.
The year 2009 began with decreases in car sales of up to 40%. Staffs have been reduced to the bare minimum and customers are still scared to spend money on buying cars. But can this backward step eventually result in a big jump forward?