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Maryland could be forced to rein in transportation projects by an additional $2.5 billion in coming years, legislative analysts said yesterday, citing a sharp drop-off in tax collections on car sales and gas purchases that has also hamstrung Virginia and other states.
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The global financial crisis prompted market researcher Gartner on Monday to lower its preliminary chip industry revenue projections for the next few years, including a US$25.5 billion reduction for next year.
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Japan unexpectedly posted a merchandise trade deficit of 63.9 billion yen in October, the Ministry of Finance said on Thursday, versus expectations of a 73.6 billion yen surplus. That followed a revised 88.5 billion yen surplus in September.
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The cost of security for the 2010 Winter Games could reach as high as $1 billion, but B.C. will not be on the hook for the runaway costs, according to the provincial finance minister.
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HARTFORD, Conn. -- General Electric Co. spared investors any nasty surprises as it reported a 22 percent drop in third-quarter earnings on Friday, meeting its own lowered forecast and blaming the decline on its struggling finance arm. The company's loan and lease business has been hammered by the worst financial crisis since the 1929 stock market crash.
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Oil prices fell Friday after the International Energy Agency forecast demand would increase this year by only 0.5 percent - the slowest rate in 15 years.
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General Electric Co. spared investors any nasty surprises as it reported a 22 percent drop in third-quarter earnings on Friday, meeting its own lowered forecast and blaming the decline on its struggling finance arm. The company's loan and lease business has been hammered by the worst financial crisis since the 1929 stock market crash.
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Britons are losing more than £7 billion in downloaded music from not backing up their data, research has found.
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Plateau State government has cleared over N3.7 billion backlog of 18 months salaries owed civil servants , the Special Adviser to the state governor on Media and Public Affairs, Mr Daniel Manjang told Daily Trust correspondent in Jos yesterday.
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Senate ad-hoc committee investigating the nation's transportation sector yesterday queried the unauthorized spending of N9.5 billion by the ministry of transport.
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The Okopedi community in Okobo Council Area in Akwa Ibom is demanding a N20 billion compensation from the state government for land acquired for the Ibom Airport project.
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Worried by the condition of federal roads in the state which it described as being in "total mess", Abia State Government said it has awarded contract worth N5.3 billion to reconstruct two major federal roads in Aba, the commercial capital.
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The Nigeria Ports Authority (NPA) generated N548 billion from 1999 to date, remitted only N11 billion into the Federation Account and squandered the rest, Minister of State for Water Transportation Chief John Okechukwu Emeka said in Abuja yesterday.
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The Senate was yesterday shocked once again, when it was told of how a whooping sum of N453. 589 billion was squandered by the Nigerian Ports Authority (NPA) between 1999and 2008, even as it queried the N9.450 billion extra- budgetary
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Parliament passed a law unlocking Central Bank lending to private banks in a $36 billion bailout, continuing a strategy that has relied on making government oil profits available to banks.
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The bailout bill is laden with all kinds of vague legislative guidelines and there are lots of details the next Treasury secretary will have to grapple with.
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HARTFORD, Conn.| General Electric Co. spared investors any nasty surprises as it reported a 22 percent drop in third-quarter earnings on Friday, meeting its own lowered forecast and blaming the decline on its struggling finance arm. The company's loan and lease business has been hammered by the worst financial crisis since the 1929 stock market crash.
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The federal budget deficit hit a record in the just-completed 2008 budget year, according to the latest estimates from the Congressional Budget Office.
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The British government is considering a 35-billion-pound rescue of the country's four largest retail banks - HBOS, Royal Bank of Scotland, Lloyds TSB and Barclays - according to a Sunday Times report posted on its Web site.
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The bailout bill is laden with all kinds of vague legislative guidelines and there are lots of details the next Treasury secretary will have to grapple with.
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India's outsourcing sector is bracing itself for a sharper than expected slowdown after Infosys Technologies slashed its full-year forecast for revenue growth by nearly 30%
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The federal dollars being tossed in amid the financial crisis have altered the shock value of high numbers. There's an old saying attributed to Everett Dirksen, the Illinois senator who dotted his speeches with colorful rants against government borrowing: A billion here, a billion there, and pretty soon you're talking real money.
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South Carolina Department of Transportation maintenance crews removed 16,976 pounds of trash from along 206 miles of highways in Anderson County this year during the agency’s annual public lands fall cleanup.
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Monday, the week is set to begin with the release of UK producer price inflation as well as Swiss producer and import price details.
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Brazil said Monday that it would ease bank reserve requirements to inject as much as to 100 billion reais, or $45.5 billion, of cash into the financial system and unfreeze lending.
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An equities trader at Renaissance Capital, a Russian investment bank, lost the company about $10 million by placing unauthorized bets on the stock market just as it collapsed, the bank said Monday.
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The financial fallout outside the United States from Lehman Brothers‘ bankruptcy has been about $300 billion, the head of Germany’s financial regulator said on Monday. “We’re still licking the wounds of Lehman,” Jochen Sanio, president of the German Federal Financial Supervisory Authority, told Reuters at an international banking conference. “It caused international damage of $300 billion [...]
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A financial industry official says the Bush administration has decided to greatly expand protections for the U.S. banking system out of concern for the faltering economy.
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THE US Treasury Department intends to unveil overnight a $US250 billion ($356 billion) plan to purchase equity stakes in financial institutions along with a three-year guarantee of bank-to-bank lending, according to a financial policy source familiar with the plan.
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Microsoft will debut vulnerability predictions when it issues 11 security updates for Windows, Office and Internet Explorer.
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The German Chancellor presented a rescue package that will provide 400 billion euros ($543.4 billion) in bank guarantees and a further 80 billion euros in state funds to recapitalise banks.
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French President Nicolas Sarkozy on Monday announced guarantees on interbank loans of up to 320 billion euros to shore up the financial sector. Additionally, 40 billion euros would be set aside to recapitalise French banks, he said.
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Oct 13 - Neel Kashkari, Treasury's point man on the $700 billion plan, weighs options.
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BANGKOK/TOKYO (Reuters) - The U.S. Treasury is ready to inject $250 billion into U.S. banks, mirroring moves by other leading countries that have boosted confidence in financial markets and sent the Nikkei soaring 13 percent on Tuesday.
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WASHINGTON (Reuters) - The Treasury Department intends to unveil on Tuesday a $250 billion plan to purchase equity stakes in financial institutions along with a three-year guarantee of bank-to-bank lending, according to a financial policy source familiar with the plan.
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Shifting its focus from buying bad assets, the administration also decides to expand federal insurance protection. The Dow leaps 936 points, a record one-day gain, on hopes of a thawing of credit. In a major strategic shift, the Bush administration has decided to pour at least $250 billion directly into major banks and expand federal insurance protection to encourage financial institutions to resume lending to one another.
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Treasury Secretary Henry Paulson Jr. told nine leading bankers they would have to accept government investment for the good of the U.S. financial system.
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The package was designed to guard the country's economy from a global slowdown, with one-time payments to help boost consumer confidence.
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Santander of Spain said it will acquire the remaining stake of Sovereign Bancorp it does not own for $1.9 billion in stock, as the euro zone's largest bank hunted for bargains in a sector pummeled by the global financial crisis.
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U.K. government will provide up to $63 billion to 3 of Britain's largest banks.
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Treasury Secretary Henry M. Paulson Jr. told nine leading bankers they would have to accept government investment for the good of the U.S. financial system.
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