Inquire.Report.Network

With a reported 46% loss in sales and more than 16.8 Billion dollars, Chrysler is smarting, a lot. In an effort to cut losses, Chrysler has announced that it would be closing a quarter of it's 3200 U.S. based ...

According to Reuter's report, 663,000 have been lost last March, forcing cuts in worker hours and sending the US unemployment rate to an all time high of 8.5 percent. Manufacturing, construction and service providing industries have axed hundreds of thousands of employees just to make ends meet. The unemployment rate rose ...

SAN FRANCISCO (INR) -- Founder of Bernard L. Madoff Investment Securities, Bernard Madoff was arrested by the Federal Bureau of Investigation agents for alleged fraud. According to senior employees of the Bernard L. Madoff Investment Securities firm, they were told by Madoff himself the the firm ...

The U.S. federal government announced it would finance a $20 billion investment in financial giant Citigroup and would guarantee losses on more than $300 billion of it's troubled assets. U.S. markets shot up upon hearing the news of Citi's fresh restart with S&P 500 up 494 points from a 11 and ...

Battered by bad investment and lending decisions, Citigroup will be cutting 50,000 additional jobs to cut cost and stem huge losses sparked by bad investment and lending decisions. From MarketWatch.com Management also plans to reduce costs across the company by 20% in the near term and will continue to sell off ...

Geir Haarde, Iceland's Prime Minister addressed the nation in a televised speech stating that the country faces “National Bankruptcy”. The following are excerpts from Haarde’s speech released by the Icelandic government: Fellow Icelanders... The entire world is experiencing a major economic crisis, which can ...

Beleaguered global insurer American International Group (AIG) is likely to sell its valuable assets, including its local subsidiary, Philippine American Life and General Insurance Co (Philamlife), within six to nine months, an AIG official said Tuesday. AIG is selling various valuable worldwide assets outside ...

After being rejected by the U.S. House of Representatives last September 29, 2008, the Emergency Economic Stabilization Act of 2008 was quickly revised and later named the HR1424 by US Senators to address concerns brought about by those who opposed the bill. Enacting the bill would increase the dependence on ...