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News of the 08/28/2008

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'Why Tax Cuts Won't Do The Trick'
Asian, American leaders push free trade against crisis
Talks continue to save Woolworths
    

Toyota cuts 2009 global sales forecast

  
Toyota Motor Corp <7203.T> said on Thursday it would miss its goal of selling more than 10 million vehicles next year, lowering its forecast by nearly 7 percent to account for a severe downturn in Western markets driven by high fuel prices and a credit crunch.
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Three Fannie Mae execs out, shares rally earlier

  
NEW YORK (Reuters) - Fannie Mae , the biggest U.S. mortgage finance company, on Wednesday announced a shake-up of top executives, including the exit of its chief financial officer, in an effort to better implement a plan to preserve capital and cut losses.
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House prices 'fall 10.5% in year'

  
UK house prices are down 10.5% on a year ago, the first annual double-digit fall since 1990, the Nationwide says.
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Guinness Firm Enjoys Rise In Profits

  
Guinness and Smirnoff owner Diageo has unveiled a nine percent increase in its operating profit.
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Huge write downs for French banks

  
Aug 28 - French banks continue to be slammed by recent market turmoil, but financials helped boost European indices with investors hoping this means the end is in sight.
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Q2 growth revised to 3.3 percent

  
WASHINGTON (Reuters) - The U.S. economy expanded at a stronger-than-first-reported 3.3 percent annual rate in the second quarter, as consumer spending and net exports were more robust than initially estimated and inventories fell less sharply, a government report showed on Thursday.
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Zoom Airlines suspend all flights

  
Transatlantic budget carrier Zoom Airlines suspends all operations after applying to go into administration.
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'Adoption' Plan For Red Phone Boxes

  
BT is to allow local councils to "adopt" red telephone boxes to keep them in towns and villages - even if phones are removed because they are not used enough.
    From Sky News | Add a commentary | Report abuse
 

Brits Pay 'Too Much' In Green Tax

  
Britons are paying billions of pounds a year too much in green taxes, according to a new report by a pressure group.
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Asia The Saviour As Savills Stumbles

  
Good business in Asia rescued first-half figures for international property broker Savills - but still could not save the group from a 41% drop in profits.
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'Energy Windfall Tax Won't Help'

  
A senior Cabinet minister has slapped down demands from Labour MPs for a windfall tax on energy companies, claiming it would mean higher prices for consumers.
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New Kurosawa tops Japan film buzz

  
Aug 28 - Director Kiyoshi Kurosawa has his own industry buzz, even though he's no relation to the film legend with same last name.
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German unemployment slips lower, gov't says

  
Unemployment in Germany fell slightly in August despite slumping business and consumer confidence in Europe's biggest economy, the federal employment office said Thursday.
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London Facing Bus Strike Chaos

  
Thousands of London bus workers are set to go on strike on Friday in a dispute over pay.
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Thomas Steams To World Record

  
Thomas the Tank Engine has set a new world record by travelling along the longest ever train set track.
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Heartland Advisors likes insurance brokers, energy

  
BANGALORE (Reuters) - There's value to be found in this rangebound market in areas like insurance brokerages, North American natural gas as well as some industrials, a fund manager said.
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Sony launches thinnest LCD TV

  
Aug 28 - The Bravia ZX1 measuring 9.9 millimetres deep is one example of the evolution of flat panel TVs being revealed at the Berlin IFA trade fair.
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Auto suppliers at breaking point amid downturn

  
DETROIT (Reuters) - The number of U.S. auto suppliers may shrink by nearly a third as automakers, battling for survival, scramble to break ties with troubled supply companies in a bid to eliminate a major financial drag.
    From Reuters | Add a commentary | Report abuse
 
    
    
    





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