Global Meltdown

  • Raghuram Rajan: meet India's chief economic advisor August 30, 2012

    Raghuram Govind Rajan is the chief economic advisor to the Government of India. Born in Bhopal on February 3, 1963, he graduated from the Indian Institute of Technology, Delhi in electrical engineering. He went on to secure the Master of Business Administration degree from the Indian Institute of Management, Ahmedabad...
  • Pranab to start pre-budget meetings on Jan 11 December 25, 2011

    New Delhi: Amid economic slowdown, Finance Minister Pranab Mukherjee will hold brainstorming sessions with various stakeholders during his annual pre-budget meetings beginning January 11. The first meeting would be held with agriculturalists, followed by a series of interactions with sectoral experts, representatives, industry captains and economists over the next ten days...
  • Pandit's Citi returns $20 bn in bailout funds December 24, 2009

    Washington: Banking giant Citigroup, led by Indian American CEO Vikram Pandit, has repaid $20 billion it received in bailout funds as it works to free itself from government restrictions including the pay of its top 100 employees. Citigroup which had received $45 billion under the US Troubled Asset Relief Programme last...
  • Dubai market plunges 6 pc as debt worry mounts December 7, 2009

    Dubai: The stock markets were in the negative terrain across the United Arab Emirates on Monday led by the Dubai bourse which plunged six per cent, as investors awaited details about the extent of the Dubai World burden. Led by real estate developer Emaar, which crashed about 10 per cent,...
  • Job insecurity forces employees to drink: survey November 30, 2009

    London: More and more people in Britain are taking to drinking as they fear losing jobs in the wake of recession, a new survey has revealed. According to the survey, a third of men and a fifth of women admit to "regularly" hitting the bottle to cope. Almost half of those...
  • Indo-US ties essential for meeting global challenges: PM November 22, 2009

    New Delhi: Prime Minister Manmohan Singh on Saturday said India is looking forward to building on the strategic dialogue with the US and seeking greater cooperation in areas such as trade and investment, services, energy, science and technology and defence. "The last several years have witnessed a transformation in India-US relations....
  • In Pics: Seven types of recession-era employees November 12, 2009

    How has the global downturn affected employees' psyche? In an interesting categorisation of employees' behaviour in these recessionary times, Canada's world-famous Queen's School of Business at Kingston near here has clubbed them into seven groups. According to Douglas Reid, who is an associate professor of global business at Queen's School...
  • All about the money: job scenario in India March 15, 2010

    Recovery in the job market is the focus of All about the money this week. The show also finds out if it is the right time for the consumers to buy a car. ...
  • US economy grows for the first time in a year October 30, 2009

    Washington: The US economy grew in the third quarter for the first time in a year, beating market expectations, as consumer spending and new home-building rebounded, signaling the end of the worst recession in 70 years. The US Commerce Department, in its first estimate of third-quarter gross domestic product on...
  • Techie, wife commit suicide; blame recession October 15, 2009

    Bangalore: Mystery surrounds the death of 34-year-old Rama Rao, his wife Neelima and son Nitish. They were found hanging from the ceiling of their house on Monday in Hyderabad. According to the suicide notes found in the apartment, they couple took the extreme step due to the financial woes. “We...
  • India will grow at 6.3 pc: PM tells the world September 25, 2009

    Pittsburgh: Prime Minister Manmohan Singh on Friday predicted a 6.3 percent growth for India during the current fiscal even though he saw a dip in the economic expansion of developing countries as a whole to 1.5 percent. "Despite a drought, which will affect agricultural production, we expect to grow by around...
  • Lehman collapse clocks a year September 15, 2009

    New York: The bankruptcy of storied investment bank Lehman Brothers one year ago accelerated the collapse of financial markets, wiped out investors and pulled the rug out from under 25,000 employees. Thousands of the investment bank's employees landed jobs with Barclays Capital and Nomura Holdings, which acquired Lehman's banking and trading...
  • Indian economy recovering, deficit inevitable: Pranab July 14, 2009

    New Delhi: Finance Minister Pranab Mukherjee on Tuesday said the Indian economy was showing signs of recovery even as he defended the Government's high fiscal deficit and borrowing programme as necessary to fund welfare schemes and spur growth. Replying to the debate on the Union Budget in the Lok Sabha he...
  • Hit by recession, Jet terminates 43 trainee technicians July 11, 2009

    New Delhi: Jet Airways on Saturday terminated the services of more than 40 trainee junior technicians on contract as part of its restructuring exercise in view of the challenges of the global financial downturn. “These personnel are on fixed term contracts and the notices have been issued in accordance to the...
  • GM has Hummer deal, declines to name buyer June 3, 2009

    Detroit: General Motors Corp said it reached a tentative deal to sell its Hummer brand, part of an effort to drop four unprofitable vehicle lines and leave bankruptcy as a leaner company. GM, a day after filing for bankruptcy, said in a statement on Tuesday that it was not disclosing...
  • GM has viable plan to exit bankruptcy: Obama June 2, 2009

    Washington: US President Barack Obama said on Monday he believed General Motors (GM) had developed a viable plan that will allow it to quickly exit bankruptcy. His comments came after GM, the country's largest carmaker, filed for bankruptcy on Monday morning in a New York court. "GM and its stakeholders have produced...
  • General Motors prepares for historic bankruptcy May 30, 2009

    Washington: The century-old US industrial icon General Motors is expected to declare bankruptcy on Monday in what would be the most humiliating blow yet for the reeling US auto industry. Last-minute talks between GM, its creditors and the US government were running into the weekend. While there was no public admission...
  • Amidst recession, Goldman Sachs sees $1.8 bn profit April 15, 2009

    Washington: Bailed out US investment bank Goldman Sachs has reported a much stronger-than-expected first-quarter profit of $1.81 billion, bouncing back from its worst quarter as a public company. The 140-year-old firm on Monday also set plans to raise $5 billion through a sale of stock, saying it wants to become the...
  • Hard times make hairy men more attractive April 6, 2009

    Sydney: The recession has made beefy blokes like Hugh Jackman and Daniel Craig more appealing than scented metrosexuals like Hugh Grant and Leonardo DiCaprio, an Australian sociologist said. Demographer Bernard Salt said that as the global financial crisis wore on, lots of women would eye a motor mechanic for a life...
  • Designers fight recession, give their best in shows April 3, 2009

    New Delhi: The three fashion weeks have come to an end and the designers negotiation with the buyers is on. But will the fashion industry business be still so strong with a recession in the West? These are the questions which have risen after the grand fashion shows came to...
  • Bailout plans fail, US recession continues for 17th month March 31, 2009

    Washington: The Federal government's mega bailout packages seem to have failed to steer the US out of the economic downturn, as the nation enters into recession for the 17th straight month in April. This is one of the longest periods since the 1930's Great Depression. America officially entered into recession...
  • Fashion wins over recession, more buyers seen at LFW March 31, 2009

    Mumbai: Recession seems to have gone for a catwalk as far as the ongoing Lakme Fashion Week is concerned. Though the economic slowdown may have made buyers more cautious but it hasn't hurt the numbers. Compared to 185 buyers for LFW's Spring Summer show in October last year, the event...
  • All about money: Fashion week witnesses slowdown March 29, 2009

    Recession surely had its impact on the fashion week. Designers did cut prices and forgot the extravagance. ...
  • Meltdown solution must be global: Deepak Chopra March 27, 2009

    Spiritual Guru Deepak Chopra says the economic meltdown is global problem, so the solution to it is going to have to be global. He feels the corporate mindset is has become used to greed, abuse, cronyism and influence peddling and bureaucracy, and now they have been exposed. Here is a verbatim transcript...
  • Houses without tenants, recession hits China March 25, 2009

    China underwent a construction boom during good economic times. ...
  • Obama sees signs of economic recovery March 25, 2009

    Washington: US President Barack Obama assured Americans on Tuesday that there were "signs of progress" towards recovery, while pleaded for more time and patience. "We will recover from this recession," Obama said at a prime-time news conference here. "But it will take time, it will take patience." He noted that "there are...
  • A few jobs that are still recession proof March 21, 2009

    Teachers, physical therapists and pharmacists, wedding planner make the top ten. ...
  • US recession could end in '09: Fed Reserve Chaiman March 16, 2009

    Washington: America's recession "probably" will end this year if the government succeeds in bolstering the banking system, Federal Reserve Chairman Ben Bernanke said. In carefully hedged remarks in an interview with CBS' "60 Minutes," Bernanke seemed Sunday to express a bit more optimism that this could be done. Still, Bernanke stressed -as...
  • Recession? Billionaire homes boast of gold-plated pool March 15, 2009

    New York: It is not just billions of dollars that make them special but the way they live their lives king-size also sets them apart from the crowd. For instance, NRI billionaire Lakshmi Mittal's house has marbles sourced from the same quarry that supplied for Taj Mahal. On other hand,...
  • American recklessness led to global recession: Canada March 14, 2009

    Toronto: In the first such attack by any western leader, Canadian Prime Minister Stephen Harper has blamed reckless American consumers and investors for leading the world into the current recession and said the marketplace is not the solution to the problems. The prime minister of America's largest trading partner also found...