(PTI): US stocks have plummeted following hefty declines in global markets amid investor fears over the world’s uneasy recovery from recession. According to reports on Thursday, the country’s major stock indices fell about one percent on average after the European and Japanese stocks experienced
US stocks declined in global markets
Published in November 21st, 2009
Posted by The Business Time in Business
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Switzerland is in urgent need of tighter financial regulations
Published in November 21st, 2009
Posted by The Business Time in Business
(PTI): Switzerland is in urgent need of tighter financial regulations than other countries, given the size of its banks relative to its economy, Swiss National Bank Vice-Chairman, Philipp Hildebrand, says. In a speech in Geneva Wednesday, Philipp Hildebrand, who is to take over as Swiss National Bank (SNB) chairman next year, said the “exceptional” size [...]
Iran plans to produce 16,000 vehicles at its Venezuelan car plant
Published in November 20th, 2009
Posted by The Business Time in Business
(PTI): The Iranian minister of industries and mines says Iran plans to produce 16,000 vehicles at its Venezuelan car plant in the coming year. Ali-Akbar Mehrabian made the remarks after a meeting with Venezuelan Foreign Minister Nicholas Maduro, and Science Minister Jesse Chacon, in Tehran. The two allies opened a joint car plant
Brazil to impose sanctions on US products
Published in November 20th, 2009
(PTI): Brazil can now impose sanctions on the US products in order to compensate for the losses Washington has inflicted on the Latin nation by its unfair cotton subsidies, WTO says. The World Trade Organization on Thursday authorized Brazil to impose trade sanctions or punitive levies on the United States for its illegal support for [...]
Airbus reports $130million loss due to a weak US dollar
Published in November 19th, 2009
Posted by The Business Time in Business
(PTI): The parent company of the plane maker Airbus says it has lost 87mn euros ($130mn) in the third quarter of 2009, due to a weak US dollar. The European Aeronautic Defense and Space Company (EADS) was also hit by cost increases, the economic downturn, and a crisis in the airline industry that forced its [...]
US Postal Service (USPS) reports $3.8 billion loss
Published in November 19th, 2009
Posted by The Business Time in Business
(PTI): The US Postal Service (USPS) has reported a $3.8 billion net loss for its 2009 fiscal year that ended in September, despite measures to cut costs by $6 billion. According to a report released Monday, the agency delivered 26 billion fewer pieces of mail in fiscal 2009, showing a 13-percent decline as the global [...]
