Entries tagged as Recession News
20,000 Indian workers to be flown out of UAE
According to figures released by Indian Consulate in Dubai, 20,000 Indian workers, mostly labourers working in the construction industry, are leaving UAE in bulk booked flights to India. They are either being sent back home on long leave, or are being redeployed to work on projects in other Gulf countries, such as Qatar. The move More...
Banks in Florida, Maryland and Utah closing as Mortgage losses mount
Banks in Florida, Maryland and Utah were closed Friday as regulators wrapped up the busiest month for failures since the housing slump began in 2006. Ocala National Bank in Florida and Suburban Federal Savings Bank of Crofton, Maryland, were shut by federal regulators, according to statements sent by the Federal Deposit Insurance Corp. MagnetBank of More...
KPMG UK asking Staff to cut time to beat recession and avoid layoffs
Global accountancy firm KPMG has asked its 11,000 British staff if they would switch to a four-day week or take a long break to help avoid redundancies in the recession, a spokesman said on Saturday. The London-based company said it had asked workers on Friday to volunteer for a shorter working week or a sabbatical More...
Visual Guide to Recession
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German jobless hits three million as recession bites
German unemployment has risen for the first time for 33 months with the total number of jobless now above three million, data showed on Wednesday as the recession in Europe’s economic powerhouse begins to bite. Adding further pressure on Chancellor Angela Merkel’s government to counter what is forecast to be Germany’s deepest post-war slump, the More...
Is having babies recession-proof?
Susan Newman has an interesting discussion about whether having babies is recession-proof or not: The economic crisis is giving couples pause before deciding whether to have or delay having another child. The global economic slowdown is hurting almost everyone in one way or another. Massive layoffs throughout the country make planning to have a baby More...