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Prime Minister Gordon Brown swept aside three decades of economic orthodoxy with tax increases on the rich and plans that will double Britain’s national debt.
Brown’s proposals yesterday to mitigate fallout from the global economic slump would cost 25.6 billion pounds ($38.7 billion) in the U.K.’s biggest round of stimulus since 1988.
The plan, […]
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Vietnam cut the benchmark interest rate for the third time in a month to protect the economy against the global financial crisis.
The central bank reduced the key rate to 11 percent from 12 percent, effective tomorrow, according to an e-mailed statement from the State Bank of Vietnam. Policy makers also trimmed the refinancing […]
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U.S. industrial production probably rose in October as work at Gulf Coast refineries rebounded from shutdowns following Hurricanes Gustav and Ike, economists said ahead of a government report today.
Output grew 0.2 percent after dropping 2.8 percent in September, according to the median estimate of 64 economists surveyed by Bloomberg News. A separate report […]
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U.K. unemployment rose the most in 16 years last month, and Prime Minister Gordon Brown's government said the nation should prepare for worse as the economy heads for its first full-year contraction since 1991.
The number of people receiving jobless benefits rose 36,500 to 980,900, the highest level since March 2001, the Office for […]
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French industrial production fell in September for a second month, led by declining automobile output, as the second-largest euro-area economy slid into recession.
Output at French factories and utilities fell 0.5 percent, the Paris-based statistics office said today. That was in line with the median of 16 forecasts in a Bloomberg News survey of […]
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The U.S. hospitality industry will take a hit in 2009, according to a new forecast from the Travel Industry Association.
TIA predicts that leisure travel will fall 1.3 percent nationally in 2009, and business travel will decline 2.7 percent.
Travelers surveyed by TIA said they intend to cut spending on food, beverages, entertainment and souvenirs, and shorten […]
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The U.S. Army Corps of Engineers Honolulu District has awarded a $1.2 million contract to Alutiiq-Mele.
The Honolulu-based company was awarded the contract to build an addition to a building at Fort Shafter Flats easy online payday loans.
Alutiiq-Mele is a 8(a) minority-owned company.
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The Federal Reserve boosted the interest rate it pays banks for the excess cash they keep on deposit, aiming to prevent its record injection of funds into the financial system from affecting its monetary policy.
“The rate on excess balances will be set equal to the lowest Federal Open Market Committee target rate in […]
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Graham Corp. reported second-quarter net income was unchanged from a year ago while sales increased by 4 percent.
The Batavia-based manufacturer (NYSE: GHM) of equipment to the oil, petrochemical and power industries, reported profits of $4.4 million, or 43 cents per share.
Net sales of $23.9 million were up $800,000 from $23.1 million year-over-year.
Graham officials cited the […]
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