Retail sales unexpectedly rose in January – halting a record six-month skid – but the upbeat report could easily be a one-month wonder, since U.S. unemployment continues to climb.
This recession isn’t like anything we’ve seen previously. Even I’ve cut back on the egregious amount of fast food dining I do in the face of deflation.
Under the gun to return to profits, General Motors Corp. (GM) announced dramatic job cuts and dialed back pay to its white-collar workforce.
Live Nation Buys Ticketmaster; China Inflation Trudging Slowly; MillerCoors Profit Falls 40%; UBS Cuts Jobs, Announces Profitability; Traders Bid up Gold Options; Oil Falls Below $39;WalMart Cuts Jobs at Home Office; Cisco Raises $4 Billion
Taipan Publishing Group’s Adam Lass stays bearish while unemployment soars and the U.S. economy dives.
With $17.4 billion owed to the U.S. government amid falling auto sales, General Motors Corp. (GM) and Chrysler LLC may be forced into bankruptcy to reassure loan repayment.
