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Economists are lowering forecasts, but nothing suggests this will be more than a rough recession
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Leading economics institutes believe the global financial crisis is going to hit the German economy next year. They are downgrading forecasts for 2009 growth from 1.8 percent to a meager 0.2 percent. If the situation deteriorates, they warn, a recession is likely.
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LAST Tuesday's Budget will not help us out of the recession. In fact, it has made the recession worse. That is the verdict from a Sunday Independent/Quantum Research poll carried out on Friday evening.
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Families must prepare themselves for a recession which could be deeper more painful and longerlasting than the early 1990s experts warned after the economy shrank for the first time in 16 years.
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As Bad as yesterday's news was, most economists expect worse; another year or more when the economy shrinks. It could easily be grimmer than we consider possible even now. After all, most of the surprises so far have been unwelcome ones. The extent of the banking crisis shocked even the most well informed insiders. Mervyn King, the Governor of the Bank of England, called it "an extraordinary, almost unimaginable, sequence of events".
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SINGAPORE (Reuters) - Oil fell 1 percent on Tuesday after shedding nearly $4 the previous session on renewed fears of economic recession, with investors unwilling to place big bets before the U.S. presidential election.
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NEW YORK -- The economy's downturn could end up being worse than the recent crisis in the financial markets, JPMorgan Chase & Co. CEO Jamie Dimon said Wednesday at a banking conference.
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JPMorgan CEO: "(The recession) could be deep; we don't know how deep."
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Japan's recession is worse than expected, according to revised figures published on Tuesday. The GDP of the world's second-largest economy contracted by 0.5% in the third quarter and not 0.1% as initial estimates suggested.
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Households must prepare themselves for an even deeper recession than previously feared experts have warned.
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European manufacturing contracted in December by more than initially estimated and at its fastest pace on record, signalling that the recession is deepening.
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The International Consumer Electronics Show, the largest trade show in the U.S., opens this week in Las Vegas. It does so with a full slate of giant TVs and inventive gadgets, despite the pall of a recession hanging over the industry.
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Barack Obama, in the unlikely swing state of Indiana, retools a theme of hope amid financial gloom. For nearly two years, Barack Obama has made hope a chief selling point of his campaign for president. Now, unpredictably, national despair over the foundering economy has given new resonance to his message.
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FOOD
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The world's monetary authorities are at last really trying to reassert their power over the financial markets. They have not yet succeeded and they will have to do more, maybe much more, but eventually they will win. Or at least they always have in the past 75 years. You have to think that the world is facing something akin to the Great Depression of the 1930s to believe that they will fail.
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Japan's Nikkei dives 9.4 percent, Dow Futures down.
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Three days into preseason the NBA is brimming with good news. The entire league is slipstreaming behind the U.S. Olympic team and its gold medal showing. Optimism is rampant.
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Construction work is due to begin on a new multi-million pound health campus in Derbyshire.
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Our readers' witty ditties about turmoil in the City
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Plans to expand Stansted Airport to deal with an extra 10 million passengers are given the go-ahead.
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We haven't seen the moment of capitulation that ends a market bust, so the fear and pain will get worse before they get better. Also: Gold's next run-up.
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The Stansted airport expansion plan to increase its capacity by 10 million passengers a year has been backed by Geoff Hoon.
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Legal row threatening lucrative match against Stanford Super Stars is settled say reports in Caribbean.
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Rio Ferdinand claims Theo Walcott's game blends the clinical finishing of Michael Owen and the menace of Cristiano Ronaldo.
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PRIME Minister Kevin Rudd says Australia is not heading towards a recession as it fights off the global economic crisis.
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A third of businesses involved in the housing industry expect trading conditions to deteriorate during the next six months, a new survey shows.
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Oil prices looked for direction Thursday as traders weighed fears that a looming world recession will crimp demand against speculation that OPEC may cut output to keep prices from falling too far.
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BAGHDAD (Reuters) - U.S. forces in Iraq fear a wave of assassinations ahead of provincial elections, some carried out by militant cells trained in Iran, the U.S. general in command of the southern half of the country said on Thursday.
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A major slowdown is predicted for the world's economy and an outright recession in the United States, according to a report by the International Monetary Fund. Anthony Mason reports.
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Peter Kelly has a healthy lead over main rival Sheila Fougere in the Halifax mayoralty race, a poll commissioned by CBC News suggests.
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The global economy is not heading towards a worldwie recession despite the fact a probable recession among OECD countries, according to a new report released by CIBC Thursday.
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On Saturday night, Celerie Kemble celebrated her birthday! So what's wrong with that? One gets the distinct impression that Page Six is having a populist moment: never afraid to glamorize the lives of the rich and famous, the item this morning chronicling the "blond" and "Harvard-educated" interior designer and socialite's party for her "privileged guests" at the bawdy pop-up venue Spiegeltent on Pier 17 over the weekend is indulging in a bit of a scold. "LIFE doesn't stop just because the economy is cratering," the write-up begins. The item describes the stripping down to the waist of Bronson van Wyck onstage. He's that guy "whose family has a Queens expressway named after it. read more »
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