Finance Avenue

No respite for the govt.
The problems global recession simply doesn’t seem to end, yet another piece of bad news include the sinking income tax, corporation tax and VAT revenues in the month of January which caused the public deficit for the initial ten months of the fiscal year of 2008/09 to propel out to a [...]

At a time when recession is taking its toll on all manufacturing companies with either sales dipping or demand reducing and maintaining a positive net record seems to be a difficult task, and even economic giants are failing to do so one food producing giant has managed to do the impossible, they have achieved something [...]

It is a known fact that UK is going through a rather bad patch on the economical front and also the policy makers in UK don’t want to talk about it much, and just when things are just about getting better, coffee giant Starbucks hits at the UK economy and their low consumer confidence. This [...]

As recession continues to be the hot new topic of the season spreading its vicious tentacles to almost all branches possible, Sweden economy seems to have been hit the hardest in Western Europe strip. In a country which could only boast of a population of 9 million, Sweden seemed to be doing pretty well, [...]

In this season of recession, someone seems to be garnering a lot of profit. Something somewhere in Britain and Irish republic seems to be growing in huge numbers, and that is the revenue chart of Dominoes pizza. Dominoes pizza ,which happens to be Britain’s biggest pizza delivery chain are more than happy with the onslaught [...]

The stage was set. Stock markets and the world over were waiting. Some had already reacted. But in a last minute interjection, Timothy Geithner, the US secretary of treasury postponed the announcement of the much awaited US government Financial Stimulus (read: breather), currently valued at $780 million. The announcement came in the wake of some [...]

Hail the president!!
In the major move and show of decision making, US President Barack Obama together with the Treasury Secretary Tim Geithner, has announced an upper ceiling to the compensation (salary) rewarded to the top-notch executives of the banking firms in the US, which have received grants from the Government as part of Troubled Asset [...]

On Monday, Barack Obama, leading from the forefront announced its cabinet’s strategy towards making America Energy-efficient and reducing its oil- dependency on other countries. This he aims to achieve through better and widespread generation, distribution and use of renewable sources of energy. He seeks to double it up from today’s standards within 3 years.
Department of [...]

In another round of cost-cutting measures, 7 major corporations of US have announced job cuts to the tune of 71,400, on Monday, January 26, 2009. This takes the aggregate job-cuts this year to more than 2, 50,000!!
Caterpillar Inc announced 20,000 layoffs for the first quarter of 2009 whereas 8,000 workers will be shown the exit [...]

In one of the moves to keep afloat in the prevailing financial turmoil, Britannia, the second largest building society in UK, and Co-operative Financial Services have agreed to merge to crate a ‘super mutual’. Now what exactly is a super-mutual? More on it later.
Now on the paper the whole deal goes like this: the two [...]