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Friday, activity remained hectic in Asia at the end of the week and gloomier data were released from some key economies in the region.
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The city comptroller's office expects 165,000 private sector jobs in the city to be lost because of the Wall Street downturn, nearly twice as many as predicted by the city in July. Here's the statement from City Comptroller Bill Thompson (who may or may not still be a mayoral candidate): Our current forecast anticipates that as many as 165,000 private-sector jobs will be lost throughout the city’s economy over the next 24 months, which compares to a forecast of 85,000 jobs lost in the Comptroller’s most recent budget report, issued in July. We now believe that as many as 35,000 of those job losses may come in the financial services industry; our previous forecast was that the industry would contract by 25,000 jobs. The differences reflect the spreading of the economic troubles to other industry sectors as the nation slips into a general recession.
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NEW YORK (Reuters) - Stocks fell on Tuesday as fears that the global economy may not avert recession slammed shares of technology and consumer companies, eclipsing a government rescue plan for banks.
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A recession is looming in Scotland, with business confidence at a record low, a report by the Scottish Chambers of Commerce says.
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NEW YORK (Reuters) - Stocks fell on Friday on weakness in manufacturing and financial stocks after bleak data on consumer confidence and construction, but the Dow still snapped a disastrous three-week losing streak with it best weekly gain in more than 5 years.
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THE 15 countries using the euro have slumped into a shallow recession in the face of the worst financial crisis in generations, the European Commission estimated today.
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Nov 14 - GDP figures show the 15 countries in the euro zone have entered recession with further gloomy prospects for the fourth quarter results.
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The economy of the 15-nation eurozone has shrunk over the past three months and is now considered to be in recession, the first such prolonged contraction since the adoption of the euro as a common currency a decade ago.
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JAPAN'S economy, the second largest in the world, slipped into recession in the third quarter as companies slashed investment to weather the financial crisis, official data shows.
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Oil prices fell below $56 a barrel Monday in Asia as news that Japan fell into recession highlighted investor fears of a global economic slowdown that will hurt crude demand.
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Fears of a prolonged recession in developing countries and weak crude demand sent oil prices drifting below US$55 a barrel Tuesday.
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Scotland is facing its worst recession since the early 1980s, an economic report said today.
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Scotland is facing its worst recession since the early 1980s, an economic report said today.
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The Swedish economy contracted 0.1% sequentially in the third quarter, the Statistics Sweden reported Friday. Gross Domestic Product fell by a revised 0.1% in the prior quarter also. Two straight quarters of contraction confirmed technical recession in Sweden. Economists had expected the economy to contract 0.2% in the third quarter.
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The Hungarian economy was expected to contract 1.5% in 2009, the GKI Economic Research Co. said Monday. With both investment and consumer demand shrinking, recession was unavoidable yet its duration was uncertain, the GKI said. The forint was likely to strengthen on the back of Central bank rate cuts.
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LONDON (Reuters) - Oil prices eased below $40 a barrel on Tuesday, weakened by evidence of falling oil demand as the world economy slows.
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NEW YORK (Reuters) - Stocks plummeted for a seventh straight session on Thursday as investors bet recent moves by authorities worldwide to thaw frozen credit markets would not be enough to avert a global recession.
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Accepted wisdom has it that the Champions League has supplanted internationals as apex of achievement in the beautiful game.
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Craig Gordon has already been beaten by and lost to Norway's John Carew this season.
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Barry Robson believes Scotland should set sights on finishing on top of their World Cup qualifying group.
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A string of housing developments, backed by funds from the Scottish Government, will help Scotland's house builders respond to the current market conditions.
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Oct. 9 - Wall Street suffered a major setback on Thursday as speculation about a U.S. plan to invest in troubled banks failed to lift persistent worries of a global recession.
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Friday, the Monetary Authority of Singapore shifted its policy stance to a zero percent appreciation of the Singapore dollar nominal effective exchange rate, after the economy contracted in the third quarter. According to the central bank, the current level of the policy band will be maintained and there would be no re- centering of the band or change to its width.
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Mounting fears of global recession sent New York's Dow Jones Industrial Average plunging through the 9000-point mark last night.
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South African-born Jan Stander is named in Scotland's 25-man training squad for next year's World Cup qualifying tournament.
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This Sunday, TCM's showing 24 hours of Paul Newman, and movie nerds, like football fans, probably have their tailgating all planned out. Slurp up spaghetti and Newman's Own Sockarooni sauce while Hud drinks and disappoints (6 p.m.). Microwave a bag of Newman's Own Light Butter Popcorn as Cool Hand Luke chokes down 50 hardboiled eggs (10 p.m.). Might we also suggest Newman's Own Organics Dried Fruit Berry Blend, a bowl of granola, and Torn Curtain (10 a.m.)? It's an Alfred Hitchcok thriller about a physicist who fake-defects and the fiancée who, not in on the trick, bumbles after him through the Iron Curtain. read more »
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Age Hareide, the Norway manager, said the other day: "The thing about Scotland is they still think they're a great football nation." The 55-year-old did not intend to belittle this afternoon's opponents. He was saying Scotland retain a belief about themselves and that today's World Cup qualifier in Glasgow will be no cakewalk.
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Among a bevy of satellite events on the fringes of Frieze Art Fair in London, two in particular offer windows into an avant-garde world where art, architecture and design blend as one: DesignArt London and Covent Garden Super Design.
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The Met Office issues a severe weather warning of more heavy rain in the south and west of Scotland.
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Selecting an equities strategy in a downturn can be difficult – but the performance of investments in previous recessions can prove helpful
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Commodities prices slumped following sharp falls in global equity markets amid mounting fears that the global economy was heading into recession
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Cricket Scotland have named a 25man training squad for next year's World Cup qualifying tournament.
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Rival managers try to heap pressure on each other ahead of key World Cup clash at Hampden Park.
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Darren Fletcher has been told by manager George Burley to concentrate on damaging runs into the Norway's penalty area.
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The growing threat of recession in Japan is deepening investor pessimism here, even after the benchmark Nikkei average lost 27.2 pct in the seven trading days through Friday. Since the collapse of U.S. investment bank Lehman Brothers in mid-September, Tokyo
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Bombay Stock Exchange's Sensex closed at 10,536.69, down 791.67 points or 6.99 per cent. The index touched an intra-day low of 10239.76. National Stock Exchange's Nifty ended at 3280.85, down 232.80 points or 6.63 per cent. The 50-share index touched
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Loic LeMeur, CEO of Seesmic has announced the company is reducing its headcount by seven people. That may not sound like a huge number but as LeMeur says in the video announcement: ...the longevity of the company is obviously of significant importance - and thus we must reduce costs now in order to establish Seesmic as a solid business and pursue success of the company for years to come. As recently as June, Seesmic raised $6 million in a Series B funding round bringing the total funding to $12 million. Earlier this evening I called LeMeur: "We've cut anything that's not core to innovation - marketing, international and design. We are getting back to concentrating on developing a video conversation...
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HEY, big spender ... why don't you spend a little time at the K Club this weekend?
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