Tuesday, November 11, 2008

Steven Wevodau - We're Trying to Help the Uninsured and Doctors, Too - Wall Street Journal

We're Trying to Help the Uninsured and Doctors, Too - Wall Street Journal
The basic premise of Frederic Jarrett's Oct. 25 op-ed, " Pennsylvania Is Driving Its Doctors Away ," is flat out wrong. Dr. Jarrett writes: Gov. Ed "Rendell wants his health-care program to be funded by the premiums doctors paid into Mcare." The

Insurance giants losing ground - Economic Times
CHENNAI: With new kids on the block breathing down their neck, insurance giants are increasingly finding it tough. A look at the market share shows that Life Insurance Corporation, ICICI Prudential and Bajaj Allianz have lost significantly. Numbers

Oil and gas insurance risk exposure now $101bn - Punch
The Group Managing Director, Nigeria National Petroleum Corporation, Mr. Abubakar Yar’Adua, has said that oil and gas related risks exposure in the country was now about $101.14bn out of which $33bn or 33 per cent, was retained in Nigeria. He also

Monday, November 10, 2008

Steven Wevodau - Gov't provides $150 billion aid package to insurance giant AIG - Minneapolis Star Tribune

Gov't provides $150 billion aid package to insurance giant AIG - Minneapolis Star Tribune
WASHINGTON - In a record bailout of a private company, the government on Monday provided a new $150 billion financial-rescue package to troubled insurance giant American International Group, including $40 billion for partial ownership. The action

U.S. Provides New Aid to AIG - The Ledger
WASHINGTON | The government Monday provided new financial assistance to troubled insurance giant American International Group, including pouring $40 billion into the company in return for partial ownership. The action, announced jointly by the

Universal Insurance Holdings, Inc. Reports Third-Quarter and First - MSN MoneyCentral
Universal Insurance Holdings, Inc. ("the Company") (NYSE Alternext U.S.: UVE) (AMEX: UVE), a vertically integrated insurance holding company, announced third-quarter net income of $7.4 million, or $0.19 per diluted share, compared to $13.8 million

AIG's $173 Billion 'New Deal' With America - Street.Com
The new restructuring, the third such plan, is the next-to-last step on the road to recovery, according to Liddy, giving AIG the flexibility needed to be better positioned to execute the company's divestiture program. Confirming that AIG is not

Sector Snap: Insurers down on AIG bailout, 3Q loss - Forbes
Shares of some of the nation's biggest insurance companies fluctuated Monday as American International Group Inc., once the world's largest insurer before being hit hard by the meltdown in the credit markets, said continued financial market turmoil

Embrace Pet Insurance Secures Over $2 Million in First Institutional - Earthtimes
MAYFIELD VILLAGE, Ohio , Nov. 10 /PRNewswire/ -- Embrace Pet Insurance, ( www.embracepetinsurance.com ), a leading provider of pet health insurance in the U.S., announced the completion of its first institutional investment round of $2.1 million

Rising health costs drive Americans to seek medical treatment overseas - Xinhua News Agency
LOS ANGELES, Nov. 10 (Xinhua) -- Rising health costs and dwindling insurance coverage are driving hundreds of thousands of Americans to travel far to seek crucial treatment overseas in order to avoid potentially devastating medical bills, a newspaper

US expands record bailout of insurance giant AIG - Raw Story
The US government announced Monday an expanded bailout for insurance giant AIG, in excess of 150 billion dollars, as it tapped into emergency funds originally set for banks. The latest bailout plan, the largest in US history, came as AIG burned

Steven Wevodau - Sector Snap: Insurers down on AIG bailout, 3Q loss - Forbes

Shares of some of the nation's biggest insurance companies fluctuated Monday as American International Group Inc., once the world's largest insurer before being hit hard by the meltdown in the credit markets, said continued financial market turmoil Steven Wevodau

MAYFIELD VILLAGE, Ohio , Nov. 10 /PRNewswire/ -- Embrace Pet Insurance, ( www.embracepetinsurance.com ), a leading provider of pet health insurance in the U.S., announced the completion of its first institutional investment round of $2.1 million Steven Wevodau

Universal Insurance Holdings, Inc. ("the Company") (NYSE Alternext U.S.: UVE) (AMEX: UVE), a vertically integrated insurance holding company, announced third-quarter net income of $7.4 million, or $0.19 per diluted share, compared to $13.8 million Steven Wevodau

NEW YORK (CNNMoney.com) -- Troubled insurer American International Group got a reworked $152.5 billion deal from the federal government Monday, as the Federal Reserve and Treasury Department made significant changes to the terms of the company's Steven Wevodau

OLDWICK, N.J. - (Business Wire) A.M. Best Co. has placed the financial strength rating of B++ (Good) and issuer credit rating of “ bbb+ ” of The Exchange Insurance Company Limited (Exchange) under review with negative implications. The ratings Steven Wevodau

WASHINGTON - In a record bailout of a private company, the government on Monday provided a new $150 billion financial-rescue package to troubled insurance giant American International Group, including $40 billion for partial ownership. The action Steven Wevodau

LOS ANGELES, Nov. 10 (Xinhua) -- Rising health costs and dwindling insurance coverage are driving hundreds of thousands of Americans to travel far to seek crucial treatment overseas in order to avoid potentially devastating medical bills, a newspaper Steven Wevodau

WASHINGTON | The government Monday provided new financial assistance to troubled insurance giant American International Group, including pouring $40 billion into the company in return for partial ownership. The action, announced jointly by the Steven Wevodau

Sunday, November 9, 2008

Steven Wevodau - Alliant Insurance Services Announces Expansion of its Corporate Risk - PR Inside

www.alliantinsurance.com - Alliant Insurance Services Lynda Lane Senior Vice President Corporate Director, Strategic Relations 949-260-5050 llane@alliantinsurance.com Alliant Insurance Services, the nation's largest specialty insurance brokerage firm Steven Wevodau

A series of community meetings are being held this week to educate Natomas residents about upcoming flood insurance requirements. The meetings are 6 to 8:30 p.m. Wednesday at the South Natomas Community Center, 2921 Truxel Road, Sacramento and 6 to 7 Steven Wevodau

Saturday, November 8, 2008

Steven Wevodau - Max Specialty Insurance Company Adds New Hampshire, is now an Eligible - PR Inside

- Stephen J. Vaccaro, Jr., President and Chief Executive Officer of Max Specialty Insurance Company, an excess and surplus lines company headquartered in Richmond, Virginia, today announced that, with the addition of New Hampshire, Max Specialty is Steven Wevodau

Until now shrinking the stomach for weight loss was done through lengthy and risky surgery, but a new procedure can do it in under an hour with no cutting. When 30-year-old Belinda Guevara's weight peaked at 217 pounds she decided to take action Steven Wevodau

The story of America has been a journey toward being a fairer and more just nation. We have encountered many barriers along the way, and at times we have stumbled. But again and again, we have come together to surmount the obstacles in our path and Steven Wevodau

WASHINGTON - Regulators shut down Houston-based Franklin Bank and Security Pacific Bank in Los Angeles on Friday, bringing the number of failures of federally insured banks this year to 19. The Federal Deposit Insurance Corp. was appointed receiver Steven Wevodau

Unexpected illness causes 350,000 personal bankruptcies per year. Through 2007, disability caused nearly half of all mortgage foreclosures. Two-thirds of Americans live paycheck-to-paycheck. Despite the above statistics, most families are woefully Steven Wevodau

NEW YORK (CNNMoney.com) -- The tally of failed banks in 2008 rose to 19 as the government announced that a Texas and a California bank had been shuttered Friday night. Franklin Bank, a Houston, Texas-based bank and Security Pacific Bank, a Los Steven Wevodau

- Although the U.S. life insurance industry is not as deeply impacted by the current economic crisis as other segments of the financial services industry, the interconnectedness of banks, asset managers, brokerage firms, and insurers themselves means Steven Wevodau

Steven Wevodau - Regulators shut banks in Texas, California - FOX News

WASHINGTON — Regulators shut down Houston-based Franklin Bank and Security Pacific Bank in Los Angeles on Friday, bringing the number of failures of federally insured banks this year to 19. The Federal Deposit Insurance Corp. was appointed receiver Steven Wevodau

Nov. 8 (Bloomberg) -- Billionaire Warren Buffett 's Berkshire Hathaway Inc. posted a fourth straight profit drop, the longest streak of quarterly declines in more than a decade, as hurricanes hurt returns at insurance operations and investments lost Steven Wevodau

WASHINGTON — Two insurance companies have said they will not participate in the government's rescue program to directly invest billions in financial companies. Some insurers likely would be eligible under the Treasury Department's expanding plan or Steven Wevodau

NEW YORK (CNNMoney.com) -- The tally of failed banks in 2008 rose to 19 as the government announced that a Texas and a California bank had been shuttered Friday night. Franklin Bank, a Houston, Texas-based bank and Security Pacific Bank, a Los Steven Wevodau

NEW YORK, Nov 7 (Reuters) - Warren Buffett's Berkshire Hathaway Inc said on Friday third-quarter profit fell 77 percent, the fourth straight quarterly decline, hurt by weaker results from insurance underwriting and a big loss on derivatives contracts Steven Wevodau

Friday, November 7, 2008

Steven Wevodau - NipponKoa Insurance-6-month parent - Forbes

NipponKoa Insurance-6-month parent - Forbes
Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Neither

Delphi Financial Declares Regular $0.10 Per Share Cash Dividend - MSN MoneyCentral
Delphi Financial Group, Inc. DFG announced today that its Board of Directors declared a regular quarterly cash dividend of $0.10 per share on the Company ’ s common stock, payable on December 4, 2008 to shareholders of record at the close of

Insurance agency opens Fishkill branch - Poughkeepsie Journal
Rose & Kiernan Inc., headquartered in Albany County, recently opened a branch at 60 Merritt Blvd., Fishkill. This office consolidated two offices that have been in Beacon and the Town of Poughkeepsie. Staff relocated to Fishkill and will serve

Fidelity National Financial, Inc. and LandAmerica Financial Group, Inc - MSN MoneyCentral
JACKSONVILLE, Fla. and RICHMOND, Va. , Nov. 7 /PRNewswire-FirstCall/ -- Fidelity National Financial, Inc. FNF and LandAmerica Financial Group, Inc. LFG today announced the signing of a definitive merger agreement under which FNF will acquire LFG

Shipowners Idle 20% of Bulk Vessels as Rates Collapse (Update1) - Bloomberg
Nov. 7 (Bloomberg) -- At least 20 percent of the vessels most commonly hired to haul coal and ore are sitting empty as steelmakers cut output and dwindling trade credit halts deliveries, Lorentzen & Stemoco A/S shipbroker Kjetil Sjuve said. Fifty to

Colin Ward appointed as Business Development Manager for William - Zawya.com
Dubai Insurance Company Dubai Insurance Company has continued to develop its partnership with international insurance specialist William Russell in the Middle East by appointing Colin Ward as Business Development Manager for the William Russell plans

States face unemployment cash crisis - CNN Money
NEW YORK (CNNMoney.com) -- State unemployment insurance trust funds are rapidly running out of money amid soaring job losses. This is prompting state officials to consider raising employer taxes or curtailing benefits, while forcing them to borrow

Car Impounded After Dog Drives Away From Car Wash - FOX News
PRYOR, Okla. — A dog waiting in a car while at a car wash slipped the vehicle into gear and drove in a loop before the car came to a stop. Pryor police officer Brent Crittenden said the dog's owner was washing the vehicle when the 70-pound pit bull

Steven Wevodau - Taxpayers on Hook for Mortgage Executives' Legal Defense Costs

Taxpayers on Hook for Mortgage Executives' Legal Defense Costs
When the U.S. government took over mortgage giants Fannie Mae and Freddie Mac, taxpayers inherited more than just bad debts. They're also potentially on the hook for tens of millions of dollars in leg

University of Iowa to Restore Art Facility
Despite the risk that the Iowa River could overflow its banks again, the University of Iowa says it will restore a flood-damaged art building. Officials say that's because the need for space outwe

Munich Re Q3 Profits Down 99% to $15.4 Million; $1.8 Billion for 9 Months
Munich Re's third quarter profits fell by 99 percent to €12 million ($15.4 million) compared to the €1.216 billion ($1.555 billion) it recorded in the third quarter of 2007. The Group's ne

Steven Wevodau - Munich Re Q3 Profits Down 99% to $15.4 Million; $1.8 Billion for 9 Months

Munich Re's third quarter profits fell by 99 percent to €12 million ($15.4 million) compared to the €1.216 billion ($1.555 billion) it recorded in the third quarter of 2007. The Group's ne Steven Wevodau

Steven Wevodau - Ford posts $3 billion loss, Toyota shares dive (Reuters)

Frank Thomas, a Ford Motor Co. assembly worker, works on the frame of the 2009 F-150 pickup truck at Dearborn Truck Plant in Dearborn, Michigan October 30, 2008. (Rebecca Cook/Reuters)Reuters - Ford Motor Co posted a $2.98 billion quarterly operating loss and shares in world No. 1 automaker Toyota Motor Corp (7203.T) plunged on Friday after it warned this year's profits would hit a 13-year low.


Steven Wevodau

The logo of American International Group (AIG) is seen at their offices in New York September 22, 2008. (Eric Thayer/Reuters)Reuters - Shares of American International Group advanced 9.6 percent to $2.05 in premarket trade after the Wall Street Journal said federal officials were considering a possible change in the terms of an $85 billion loan to the troubled insurer.


Steven Wevodau

AP - Reinsurer Munich Re AG said Friday that it barely eked out a profit in the third quarter as its investments were hurt by falling stock markets, forcing the company to abandon its full-year earnings forecast for the second time this year. Steven Wevodau

Traders work on the floor of the New York Stock Exchange, November 6, 2008. (Brendan McDermid/Reuters)Reuters - Stock index futures rose on Friday as a slide of the past two sessions prompted investors to scour the market for beaten-down shares, but trading was cautious before the government's report on October non-farm payrolls.


Steven Wevodau

A Chrysler vehicle is shown for sale in Carlsbad, California, October 29, 2008. (Mike Blake/Reuters)Reuters - Chrysler LLC is rapidly burning through cash and being driven to prepare for a possible break-up if it can't clinch a merger with General Motors Corp or get government funding needed to ride out the economic crisis, people with knowledge of the situation said.


Steven Wevodau

Dan Hesse, president and CEO of Sprint Nextel, speaks during a keynote address at the CTIA Wireless convention in Las Vegas, Nevada April 1, 2008. (Steve Marcus/Reuters)Reuters - Sprint Nextel Corp , the No. 3 U.S. mobile service, on Friday posted a third-quarter loss and a 12 percent drop in revenue as customers fled to rival services.


Steven Wevodau

Steven Wevodau - Media Advisory - Insurance Bureau of Canada teams up with Operation - CNW Group

HALIFAX, Nov. 7 /CNW/ - Insurance Bureau of Canada (IBC), on behalf of Canada's home, car and business insurers, is joining forces with the Operation Red Nose, to get holiday revelers -- and their vehicles -- home safely in three Nova Scotia Steven Wevodau

London equities moved higher on Friday, with hopes that the Bank of England’s dramatic rate cut could help stave off the worst effects of recession. The FTSE 100 rose 89 points or 2.1 per cent to 4,361.35, helped by rises for financial and Steven Wevodau

NEW YORK (CNNMoney.com) -- State unemployment insurance trust funds are rapidly running out of money amid soaring job losses. This is prompting state officials to consider raising employer taxes or curtailing benefits, while forcing them to borrow Steven Wevodau

Steven Wevodau - Ford posts $3 billion loss, Toyota shares dive (Reuters)

Ford posts $3 billion loss, Toyota shares dive (Reuters)

Frank Thomas, a Ford Motor Co. assembly worker, works on the frame of the 2009 F-150 pickup truck at Dearborn Truck Plant in Dearborn, Michigan October 30, 2008. (Rebecca Cook/Reuters)Reuters - Ford Motor Co posted a $2.98 billion quarterly operating loss and shares in world No. 1 automaker Toyota Motor Corp (7203.T) plunged on Friday after it warned this year's profits would hit a 13-year low.




AIG jumps on report of possible change in loan terms (Reuters)

The logo of American International Group (AIG) is seen at their offices in New York September 22, 2008. (Eric Thayer/Reuters)Reuters - Shares of American International Group advanced 9.6 percent to $2.05 in premarket trade after the Wall Street Journal said federal officials were considering a possible change in the terms of an $85 billion loan to the troubled insurer.




Munich Re 3Q profit plummets, 2008 target dropped (AP)
AP - Reinsurer Munich Re AG said Friday that it barely eked out a profit in the third quarter as its investments were hurt by falling stock markets, forcing the company to abandon its full-year earnings forecast for the second time this year.

Stock futures bounce on bargain search; data eyed (Reuters)

Traders work on the floor of the New York Stock Exchange, November 6, 2008. (Brendan McDermid/Reuters)Reuters - Stock index futures rose on Friday as a slide of the past two sessions prompted investors to scour the market for beaten-down shares, but trading was cautious before the government's report on October non-farm payrolls.



Steven Wevodau - Munich Re 3Q profit plummets, 2008 target dropped (AP)

Munich Re 3Q profit plummets, 2008 target dropped (AP)
AP - Reinsurer Munich Re AG said Friday that it barely eked out a profit in the third quarter as its investments were hurt by falling stock markets, forcing the company to abandon its full-year earnings forecast for the second time this year.

AIG jumps on report of possible change in loan terms (Reuters)

The logo of American International Group (AIG) is seen at their offices in New York September 22, 2008. (Eric Thayer/Reuters)Reuters - Shares of American International Group advanced 9.6 percent to $2.05 in premarket trade after the Wall Street Journal said federal officials were considering a possible change in the terms of an $85 billion loan to the troubled insurer.




Ford posts $3 billion loss, Toyota shares dive (Reuters)

Frank Thomas, a Ford Motor Co. assembly worker, works on the frame of the 2009 F-150 pickup truck at Dearborn Truck Plant in Dearborn, Michigan October 30, 2008. (Rebecca Cook/Reuters)Reuters - Ford Motor Co posted a $2.98 billion quarterly operating loss and shares in world No. 1 automaker Toyota Motor Corp (7203.T) plunged on Friday after it warned this year's profits would hit a 13-year low.




Chrysler cash drains away as crisis deepens: sources (Reuters)

A Chrysler vehicle is shown for sale in Carlsbad, California, October 29, 2008. (Mike Blake/Reuters)Reuters - Chrysler LLC is rapidly burning through cash and being driven to prepare for a possible break-up if it can't clinch a merger with General Motors Corp or get government funding needed to ride out the economic crisis, people with knowledge of the situation said.




Stock futures bounce on bargain search; data eyed (Reuters)

Traders work on the floor of the New York Stock Exchange, November 6, 2008. (Brendan McDermid/Reuters)Reuters - Stock index futures rose on Friday as a slide of the past two sessions prompted investors to scour the market for beaten-down shares, but trading was cautious before the government's report on October non-farm payrolls.




Sprint posts quarterly loss, customers flee (Reuters)

Dan Hesse, president and CEO of Sprint Nextel, speaks during a keynote address at the CTIA Wireless convention in Las Vegas, Nevada April 1, 2008. (Steve Marcus/Reuters)Reuters - Sprint Nextel Corp , the No. 3 U.S. mobile service, on Friday posted a third-quarter loss and a 12 percent drop in revenue as customers fled to rival services.




Steven Wevodau - Fidelity National Financial, Inc. and LandAmerica Financial Group, Inc - MSN MoneyCentral

Fidelity National Financial, Inc. and LandAmerica Financial Group, Inc - MSN MoneyCentral
JACKSONVILLE, Fla. and RICHMOND, Va. , Nov. 7 /PRNewswire-FirstCall/ -- Fidelity National Financial, Inc. FNF and LandAmerica Financial Group, Inc. LFG today announced the signing of a definitive merger agreement under which FNF will acquire LFG

Hooper Holmes Announces Third Quarter 2008 Results - CNBC
BASKING RIDGE, N.J., Nov 07, 2008 /PRNewswire-FirstCall via COMTEX/ -- Hooper Holmes (Amex: HH) today announced financial results for the three and nine months ended September 30, 2008. For the three months ended September 30, 2008, total revenues

States face unemployment cash crisis - CNN Money
NEW YORK (CNNMoney.com) -- State unemployment insurance trust funds are rapidly running out of money amid soaring job losses. This is prompting state officials to consider raising employer taxes or curtailing benefits, while forcing them to borrow

Insurance agency opens Fishkill branch - Poughkeepsie Journal
Rose & Kiernan Inc., headquartered in Albany County, recently opened a branch at 60 Merritt Blvd., Fishkill. This office consolidated two offices that have been in Beacon and the Town of Poughkeepsie. Staff relocated to Fishkill and will serve

Media Advisory - Insurance Bureau of Canada teams up with Operation - CNW Group
HALIFAX, Nov. 7 /CNW/ - Insurance Bureau of Canada (IBC), on behalf of Canada's home, car and business insurers, is joining forces with the Operation Red Nose, to get holiday revelers -- and their vehicles -- home safely in three Nova Scotia

Penn Treaty Completes Sale of Agency Subsidiary to LTC Global - MSN MoneyCentral
ALLENTOWN, Pa. , Nov. 7 /PRNewswire-FirstCall/ -- Penn Treaty American Corporation (OTC: PTYA or PTYA.PK) today announced that on November 5 , it sold 100% of the common stock ownership in its subsidiary, United Insurance Group Agency, Inc. of

CNP Third-Quarter Revenue Falls 17% on Stock Markets (Update2) - Bloomberg
Nov. 7 (Bloomberg) -- CNP Assurances SA , France's largest life insurer, said third-quarter revenue fell 17 percent as slumping stock markets cut demand for savings products linked to equities. Sales dropped to 6.01 billion euros ($7.65 billion) from

Wednesday, November 5, 2008

Steven Wevodau - Ship Comes In for Trade Financiers - Wall Street Journal

As the financial crisis chokes credit and corporate profits, specialist trade-finance firms have it so good that they are turning away potential customers. These financiers include small hedge funds and boutique investment firms, which specialize in Steven Wevodau

COMMONWEALTH Bank today confirmed it had an exposure to Allco Finance Group of about $170 million. Voluntary administrators and receivers were appointed to to Allco Finance on Tuesday. Yesterday, Westpac confirmed it had an exposure to Allco Finance Steven Wevodau

TRUJILLO, Peru, Nov 5 (Reuters) - The International Monetary Fund could be a watchdog for regulatory reforms likely to be introduced around the world to prevent future financial crises, Canadian Finance Minister Jim Flaherty said on Wednesday Steven Wevodau

Germany's biggest privatisation in eight years appears heading to be for the buffers after the government warned it would probably not sell a stake in the train operating unit of Deutsche Bahn until after the general election in September. The Steven Wevodau

WASHINGTON -- Congressional Democrats plan to use their widened majority to push quickly for a broader government role in financial markets, citing Tuesday's election as a repudiation of years of Republican deregulatory policies. House Financial Steven Wevodau

Nov 5 (Reuters) - CompuCredit Corp (nasdaq: CCRT - news - people ) posted a wider-than-expected loss for the third-quarter as the marketer of branded credit cards and related financial services saw a significant decline in total interest income Steven Wevodau

The election of Barack Obama has put the wind back into the sails of the renewable energy sector, where investor confidence had been badly punctured by the credit crisis. Clean technology and green energy stocks have soared as City analysts predict a Steven Wevodau

NEW YORK, Nov 5 (Reuters) - As Apollo Management's options dwindle in its struggle over the acquisition of Huntsman Corp (HUN.N: Quote , Profile , Research , Stock Buzz ), the private equity firm would benefit from a strategy to reduce its Steven Wevodau

Tuesday, November 4, 2008

Steven Wevodau - AIG investors lost more than $500 million - San Francisco Gate

AIG investors lost more than $500 million - San Francisco Gate
The ruling Friday by Judge Christopher Droney means five former insurance executives convicted of the scheme could face up to life in prison under advisory sentencing guidelines. Four former executives of General Re Corp. and a former executive of

SCENARIOS: Economic challenges facing the next president - Reuters
(Reuters) - Whether Democrat Barack Obama or Republican John McCain wins the White House on Tuesday, the next U.S. president will face a host of acute economic problems on a scale not seen since the 1930s. Below is a handful of some of those

Insurance - Household insurance - This is Money
Thousands of people will be celebrating bonfire night by lighting fireworks in their back gardens. Should you buy more insurance to cover the extra danger? It's not surprising that there was an increase of 240% on claims last year on the 5th of

Monday, November 3, 2008

Steven Wevodau - October chain store sales expected to fall (Reuters)

October chain store sales expected to fall (Reuters)
Reuters - U.S. retail chains may report one of their worst monthly sales results this week as a global financial crisis leaves its mark on ordinary consumers, casting new doubt on holiday season sales.

Viacom earnings drop 37 percent; ad slump hurts (Reuters)
Reuters - Viacom Inc (VIAb.N), owner of MTV Networks and Paramount movie studio, reported a 37 percent drop in third-quarter earnings, further evidence major media companies are suffering from an intensifying advertising slump.

Recession rears ugly head, global auto sales shrink (Reuters)

A customer leaves a branch of Halifax Bank of Scotland (HBOS) in the City of London October 13, 2008. (Luke MacGregor/Reuters)Reuters - Corporate results and outlooks darkened on Monday, and automotive companies from Japan to Italy to Detroit said October sales were the weakest in about 20 years as economies weakened and consumer credit dried up.




Auto sales hit 25-year low, Europe outlook bleak (Reuters)

A Buick Enclave SUV sits for sale at a auto dealership in Ferndale, Michigan October29, 2008. (Rebecca Cook/Reuters)Reuters - U.S. auto sales plunged 32 percent in October to lows unseen in a quarter-century led by a 45 percent drop at General Motors Corp in a collapse that hit every major automaker and offered little sign that the industry has hit bottom in its largest market.




FTSE 100 up 65.94 points at 4,443.28 (AP)
AP - Share prices on the London Stock Exchange closed up Monday.

Steven Wevodau - October chain store sales expected to fall (Reuters)

Reuters - U.S. retail chains may report one of their worst monthly sales results this week as a global financial crisis leaves its mark on ordinary consumers, casting new doubt on holiday season sales. Steven Wevodau

A customer leaves a branch of Halifax Bank of Scotland (HBOS) in the City of London October 13, 2008. (Luke MacGregor/Reuters)Reuters - Corporate results and outlooks darkened on Monday, and automotive companies from Japan to Italy to Detroit said October sales were the weakest in about 20 years as economies weakened and consumer credit dried up.


Steven Wevodau

Saturday, November 1, 2008

Steven Wevodau - China, India wary of taint of global economic crisis (Reuters)

Shoppers walk through Bern's Westside shopping centre, which was designed by architect Daniel Libeskind, on the opening day, in Bern October 8, 2008. (Stefan Wermuth/Reuters)Reuters - Two powerhouse emerging market countries in Asia felt the sting of the global financial crisis on Saturday as India cut its main short-term lending rate and China said it was bracing for a slowdown.


Steven Wevodau

Steven Wevodau - UK PM Brown Heads To Gulf For Talks On World Economy - CattleNetwork.com

UK PM Brown Heads To Gulf For Talks On World Economy - CattleNetwork.com
LONDON ( AFP)--U.K. Prime Minister Gordon Brown heads Saturday for a tour of oil-rich Gulf states, hoping to persuade them to give extra funds to help countries hit by the world economic turmoil . Brown will spend four days in the region holding

Press Democrat lays off 16, citing ailing economy, declining ad - Santa Rosa Press Democrat
Because of declining advertising and the deteriorating local economy, The Press Democrat is eliminating 16 positions, including 10 in the newsroom. "We have to cut additional expenses into 2009," Publisher Bruce Kyse told employees Friday as he

For economy, glum news keeps piling up - Houston Chronicle
WASHINGTON — Evidence of a recession piled ever higher Friday, with new figures showing Americans are spending less and gloomy about the economy, while the government signaled it won’t buy stock in the financing arms of auto companies to prop

BSkyB profit down, confirms customer target - International Herald Tribune
LONDON : Satellite broadcaster British Sky Broadcasting Group PLC said Friday its net profit dropped 13 percent in the third quarter but reaffirmed it is on course to have 10 million customers by the end of 2010 — even though the British economy is

China,India wary of taint of global economic crisis - Reuters
LONDON, Nov 1 (Reuters) - Two powerhouse emerging market countries felt the sting of the global financial crisis on Saturday as India unexpectedly cut its main short-term lending rate again and China said it was now feeling a slowdown. The

Economy: Gov. candidates unveil their plans - Brattleboro Reformer
BRATTLEBORO -- The three major candidates in Vermont's gubernatorial race have focused their campaigns on the state's economy. And all three have portrayed themselves as the battle-tested candidate to deliver the goods during the current economic

British PM Urges Oil Rich Gulf States to Stabilize World Economy - Voice of America
Prime Minister Gordon Brown says oil-rich countries in the Middle East should help stabilize the global financial system. Mr. Brown left London Saturday for a four-day tour of Saudi Arabia, Qatar and the United Arab Emirates. He hopes to persuade

Iraq budgets $15 billion for reconstruction - Chicago Sun-Times
BAGHDAD -- Iraq has earmarked some $15 billion -- nearly 25 percent of its 2009 draft budget -- to help rebuild the country's crumbling infrastructure, energy and oil facilities, the finance minister said Saturday. But Bayan Jabr stressed those funds