Global Crisis Hits Shipping Industry Hard
Shipping benefits from globalization more than almost any other sector. But this has also made it more vulnerable to the global economic crisis. Freight and charter rates have plunged, jobs at shipping companies are being cut and many ships are being parked for months at a time.
By Thomas Schulz
The anxiety [...]

The Downturn Hits Dubai
With plummeting oil prices causing the Persian Gulf economy to shrivel, Dubai’s push to become a global financial hub is in jeopardy.
For a year or so, the movers and shakers of the small but oil-rich United Arab Emirates have watched the unfolding of the credit crisis in the West with a mixture [...]

Japan output fall worse than expected
By Tomasz Janowski and Ralph Boulton
SINGAPORE/LONDON (Reuters) - Japan’s industrial output tumbled in October, evoking memories of a decade-long stagnation in the 1990s, while major European companies warned of harsh times ahead.
Chinese insurer Ping Ang provided a striking illustration of the global nature of the crisis when, according to a [...]

Every day brings more news about the government’s efforts to fix the economy. Here is how the plans are taking shape.
NEW YORK (CNNMoney.com) — Now the clock is really ticking for Henry Paulson.
The Treasury secretary has just $20 billion of unallocated money from the $350 billion Congress put under his charge for the financial bailout [...]

Builders’ confidence sinks to new low
A survey of homebuilders’ assessment of the housing market shows the industry’s sentiment fell in November to yet another low.
By David Goldman, CNNMoney.com staff writer
NEW YORK (CNNMoney.com) — Homebuilders’ confidence in the housing market again plunged to a record low, dragged down by poor financial market conditions, rising unemployment and [...]

Telecoms giant has 160,000 people working for it worldwide, of whom 110,000 are directly employed

Richard Wray, communications editor
guardian.co.uk, Thursday November 13 2008 08.30 GMT
Article history

BT is axing 10,000 workers, or 6% of its global workforce, with several thousand expected to go in [...]

Bailout’s Next Phase: Consumers
WASHINGTON — Treasury Secretary Henry Paulson officially abandoned his original plan to buy troubled assets from financial institutions. While the government will continue to invest in those firms, he said, it would also now focus on the nation’s struggling consumers.
In detailing the next phase of Treasury’s $700 billion Troubled Asset Relief Program, [...]