Sunday 23 November 2008
Obama outlines major job creation plan
US President-elect Barack Obama outlined his economic recovery plan in his weekly radio and internet address, pledging to create 2.5 million jobs by 2011. This comes as unemployment in the US reached its highest level in 16 years.
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- USA - EMPLOYMENT
- Obama outlines major job creation plan
- Sunday 23 November 2008
- US President-elect Barack Obama outlined his economic recovery plan in his weekly radio and internet address, pledging to create 2.5 million jobs by 2011. This comes as unemployment in the US reached its highest level in 16 years.
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- FINANCIAL CRISIS
- Icelanders demand PM resign in violent protests
- Sunday 23 November 2008
- Thousands of Icelanders took to the street in violent protests in Rekjavik, demanding the resignation of Prime Minister Geir Haarde and central bank governor David Oddsson in the wake of the country's complete financial collapse.
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- APEC SUMMIT
- APEC leaders push for free global trade
- Sunday 23 November 2008
- Asian and American leaders attending the APEC summit in Peru pledged not to raise new trade barriers in the next twelve months in an effort to keep the economy from sliding into deep recession.
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- UKRAINE
- Gazprom threatens to cut off Ukraine gas
- Saturday 22 November 2008
- Russian national gas company Gazprom has told Ukraine it will cut off gas supplies to its neighbour at the beginning of January if a new contract is not agreed.
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- ELECTRONICS
- Philips to lay off 1,600 employees
- Saturday 22 November 2008
- Electronics giant Philips will dismiss 1,600 employees worldwide, about five percent of its medical division, to maintain profit levels despite a sluggish economy.
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- BANKING
- Citigroup considers sale as shares plummet
- Friday 21 November 2008
- In just one week, Citigroup shares lost half their value on the stock market. The US financial institution may be forced to sell some of its assets or even consider a merger with another firm, according to the Wall Street Journal.
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- NETHERLANDS
- Dutch govt rolls out €6bn stimulus package
- Friday 21 November 2008
- The Dutch government announced Friday a six-billion-euro stimulus package, as well as official plans for the Fortis takeover of ABN Amro to "build a new, strong bank," in the words of Finance Minister Wouter Bos.
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- FINANCIAL CRISIS
- Wall Street closes on reassuring upswing
- Friday 21 November 2008
- After a day of worrisome fluctuations, the Dow closed at +6.59%, with an overall upswing of 500 points for the week.
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- Friday 21 November 2008
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