Australian consumer prices fall

Australian consumer prices fell in the fourth quarter given the sliding prices for fuel, cars and food. Economists expect the central bank to cut interest rates as the economic growth stagnates. Share

Caterpillar to cut 20,000 plus jobs amid profit drop

Caterpillar Inc., (NYSE: CAT) the world’s largest maker of mining and construction machinery announced fourth quarter earnings Monday. Share

3,500 jobs axed at steelmaker Corus

Amid collapsing worldwide demand for its products, the steelgiant, Corus annouced it will cut 3,500 jobs Share

Starbucks rumoured to cut more jobs

Rumour has it that Starbucks Corp. (SBUX) could cut another 1,000 jobs as the company struggles Share

Iceland nearing collapse as economic crisis deepens

Iceland’s Finance Ministry slashed its forecast for gross domestic product (GDP) Share

ING cuts 7,000 jobs and CEO steps down

ING Groep NV, the biggest Dutch financial-services company, announced Monday that it will cut 7,000 jobs Share

Philips cuts 6,000 jobs amid losses

Royal Philips Electronics NV, the giant consumer electronics firm from Holland, posted its first quarterly loss Share

Industry survey confirms worsening recession

As we come to the end of January 2009, with President Obama in office and stimulus packages as well as bailouts well under way Share

Fannie Mae fires 100s of employees

Fannie Mae, the mortgage-finance giant under federal control, fired several hundred employees Share

South Africa’s economy switching to reverse gear

As the global economic crisis spreads around the world, South Africa is feeling the effects. Share