Archive for June, 2008

PIMCO to Obama: Tough economy awaits next president

Monday, June 30th, 2008

NEW YORK (Reuters) - The world's biggest bond fund manager anticipates that Barack Obama will be the next U.S. president, and warns that he will face stern economic circumstances.

Paulson to reveal more on Fed stability role

Monday, June 30th, 2008

BERLIN (Reuters) - Treasury Secretary Henry Paulson will reveal more details about his accelerated plans for the Federal Reserve to assume a larger regulatory role in maintaining financial system stability in a speech in London on Wednesday.

MSN portal goes ’social’

Monday, June 30th, 2008

Jun. 30 - Microsoft is announcing new services intended to reflect the social phenomenon taking place on the internet.

Chrysler to take “manufacturing action” amid slump

Monday, June 30th, 2008

DETROIT (Reuters) - Chrysler LLC said it scheduled a briefing on Monday afternoon to discuss an unspecified "manufacturing action" it plans to take in response to a slumping U.S. auto market.

MBIA sold $4 bln of assets to meet obligations

Monday, June 30th, 2008

NEW YORK (Reuters) - MBIA Inc said on Monday that after selling $4 billion of assets in the second quarter, it now has enough cash and collateral to meet the extra requirements triggered by its recent downgrades.

Ex-boss of Airbus in shares probe

Monday, June 30th, 2008

The former president of Airbus is questioned as part of an investigation into alleged insider dealing, reports say.

Food for revolutionary thought

Monday, June 30th, 2008

Jun 30 - At a time of rampant price inflation and food riots, two writers question the sustainability of the way the west grows and processes food.

Celtic Tiger’s economy shrinks

Monday, June 30th, 2008

The Irish Republic's economy shrinks in the first three months of the year, official figures show.

Iraq seeking help to develop oil

Monday, June 30th, 2008

Iraq begins the process of opening up its oil industry to foreign investment to help boost its production.

Oil breaks new ground above $143

Monday, June 30th, 2008

Crude oil prices surge to a new high near to $144 a barrel as ministers from oil producing nations meet in Madrid.