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November 20, 2008, 6:46 pm

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Comet's credit insurance cut back as crisis spreads

The UK electricals chain Comet has become the latest big retailer to have its credit insurance scaled back, as the consumer recession and financial crisis gripping the retail sector spreads.


David Prosser: Avoid the sharks but don't forget PPI

Outlook:The Independent celebrated a major victory on Thursday, with the announcement from the Competition Commission that it is proposing to ban sales of payment protection insurance by credit providers within the 14 days immediately following the provision of a loan. This newspaper has repeatedly warned of the scandalous abuses in the PPI market, where banks and other lenders have sold borrowers poor quality, overpriced insurance alongside their loans.


Japan the latest economy to fall into recession as exports drop off

Japan became the latest country yesterday to succumb to the disintegrating global markets and fall into recession, its first since the technology bubble burst seven years ago.


Second G20 summit planned for London

World leaders pledged yesterday to cut taxes and boost government spending to drag their economies out of recession, and to begin work on a new system for regulating the battered global financial system.


Credit insurers face huge rise in premiums

Credit insurers face having to pay big increases in reinsurance premiums in the coming months as the effects of the credit crunch worsen.


U.S. jobless claims jump to 16-year high
... November 20, 2008 at 8:43 AM EST WASHINGTON - New claims for U.S. unemployment benefits ... financial crisis, and cutbacks in consumer and business spending. Economists consider jobless claims a timely, ...
Deutsche Bank set to cut one in seven trader positions

Deutsche Bank has become the latest big-name investment bank to cull its workforce, as it prepares to cut 900 jobs, with London and New York set to suffer the worst.


Premier Foods pays £5m to delay debt test

Premier Foods is to scrap its interim dividend payment after agreeing to pay its creditors almost £5m in return for a postponement of an examination of whether the company has breached its banking covenants.


Stephen King: Another British currency crisis – it's enough to make you feel nostalgic

Stick your head out of the window, inhale deeply, and enjoy the sweet, yet sickly, scent of nostalgia. It's everywhere. On a Saturday night, you can settle down in front of the television to watch the X Factor or Strictly Come Dancing, throwbacks to the days of Opportunity Knocks, New Faces and the BBC's Seaside Special. You can bask in the reflected glory of our summer Olympians who won the most British medals since the 1908 Olympics when the tug o' war was, apparently, taken rather seriously. Or you can look at sterling's sudden collapse and think of the seemingly countless occasions when Britain's economic prospects were undone as a result of a currency crisis.


--> Information Builders Customers Leverage Business Intelligence to Weather Economic Downturn
... is looking for ways to run their businesses more effectively to weather the economic downturn. ... costs. With 10 distribution centers in the United States, Hillman ships products to retailers like Lowe's ...
Iceland Gets $2.1 Billion Loan From The IMF
Iceland Gets $2.1 Billion Loan From The IMF
Peugeot to cut more jobs as car crisis continues

PSA Peugeot-Citroen, Europe's second-biggest carmaker, announced a fresh wave of job cuts today as a decline in European car sales is seen continuing into 2009.


SimCorp A/S subsidiary wins license agreement in the US
... in the US Nov 20, 2008 (NORDIC BUSINESS REPORT via COMTEX News Network) -- Danish ... Thursday (20 November) that its subsidiary, SimCorp USA Inc, has entered into a license agreement ...


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