Latest News
News Round-Up. (11.11.2008)
Posted: Tuesday 11th Nov 2008
Over the pond, Barron’s Magazine is predicting big problems for the US if its credit rating falls, while the Associated Press says that coffee juggernaught Starbucks has lost over 97% of its profits in the last quarter.
Back in blighty, the BBC reports that Dave Cameron is planning to bring in business tax cuts as Al Beeb itself turns the spotlight on nine small firms fighting to stay afloat.
The Telegraph follows with news that estate agents can’t even sell an average of one property per week, as the pound slumps- potentially forcing yet more interest cuts.
Next, The Guardian dwells on Mandelson’s claim that the banking system’s woes might in fact be good news for Post Offices. No such luck for General Motors whose share value is now all but worthless.
The Times carries on the bad news as the US government has had to bail out hapless insurer AIG, and the UK retail sector begins to decline too.
And finally, The Independent says that the housing market is pretty much kaput until 2010, while Santander has hoist up the white flag and announced a near-£6 billion rights issue.