Business bulletin
Published on December 29, 2008 By denbrover In Business Experiences

British interest rates will probably fall further, the Bank of England signaled on Wednesday, with the economy already sliding into recession and unemployment recording its biggest jump since 1992.

Wal-Mart is highlighting flat screen TVs, Blu-ray players, Xbox 360 consoles and home computers in its much-anticipated Black Friday deals this year, according to a copy of the retailer’s circular obtained by

Delta Air Lines said it plans to cut overall flight capacity by 6% to 8% next year due to "the global economic recession and weaker demand for air travel." As result, passengers can expect flights to be crowded and fare deals to be scarce.

Any remaining hopes that the fallout from the collapse of the U.S. housing market could somehow be contained grew dimmer yesterday. Another volley of dismal economic news cast doubt on recent efforts to shore up battered credit markets and revive consumer and business confidence, just as world leaders gathered at an emergency summit in Washington.

Two of Canada's well-known independent brokerages cut payments to investors and reported poor financial results Thursday, as they continue to be pummelled by turmoil in global capital markets.

Health care stocks aren’t quite as ill as the rest of the stock market in 2008. People want to be well and live longer no matter what the state of the economy, so the demand for the majority of health care products and services continues unabated.

Gross domestic product contracted 1.02 percent from a year earlier, compared with a revised 4.56 percent gain in the previous three months, the statistics bureau said in a statement in Taipei today. The bureau forecast the economy will contract 1.73 percent this quarter.

Swiss bank Credit Suisse (CSGN.VX: Quote, Profile, Research, Stock Buzz) said on Thursday it was cutting 11 percent of its workforce, or 5,300 jobs, as it revealed it made a net loss of about 3 billion Swiss francs ($2.5 billion) in October and November.

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