Almost 60 Victorians a week face losing homes
MARK RUSSELL Nearly 60 Victorians a week face losing their homes as they struggle to pay the mortgage during tough economic times and rising unemployment.
BA reveals deep cuts to remain aloft
British Airways says it will ground aircraft, slash seat numbers and delay taking new A380 superjumbos as travel demand slumps.
Carbon scandal linked to nephew of PNG's PM
A nephew of PNG's Prime Minister Michael Somare has been accused of pressuring remote villagers to sign away their land for carbon deals.
Emerging markets' share soars to a record, led by China
Developing countries' share of worldwide equity value climbed to a record as the fastest-growing economies lured investors amid the first global recession since World War II.
Porsche's boss in a spin
No longer a corporate wunderkind, Porsche boss Wendelin Wideking is fighting to save the carmaker and his job.
Fight over Stanford assets in UK
Allen Stanford's liquidators from Antigua were awarded control of 120m pounds in UK assets seized in a fraud probe.
Jackson promoter in hunt for funds
The promoter bankrolling Michael Jackson's concerts in London said it may be owed as much as $US30m by the pop singer's estate.
North Korea's latest launch: beer
North Korea's latest launch is sure to cause much frothing...it is a locally brewed beer that promises drinkers it will help ease stress.
William Pesek
Don't bet on a China-led recovery
WILLIAM PESEK So you think China's 6 per cent growth will power a global recovery. Think again.
European markets tumble on US jobs report
European stock markets suffered sharp sell-offs overnight on news of greater-than-expected job losses in the United States that dampened prospects for a smooth recovery in the world's largest economy.
US factory orders rise more than expected in May
Orders to US factories jumped in May by the largest amount in nearly a year, another sign that the nosedive in manufacturing is nearing an end.
GM bankruptcy exit hearing closes
The fate of General Motors has been placed in the hands of a New York judge who must decide whether the largest US carmaker can execute a swift exit from bankruptcy protection by selling its best assets to a new company.
UN forecasts higher decline in global tourism in 2009
The UN World Tourism Organisation has revised its 2009 global tourism forecast down sharply due to worsening economic growth prospects and uncertainty over the impact of the swine flu.
US Marshals seize Madoff penthouse property
The US Marshals Service has taken possession of disgraced financier Bernard Madoff's $US7 million ($8.65 million) Manhattan penthouse, forcing his wife to move elsewhere.
ECB keeps rates steady, downplays deflation risk
The European Central Bank has kept its main interest rate steady at a record low of 1.0 per cent Thursday as ECB chief Jean-Claude Trichet downplayed a threat of deflation gutting the eurozone.
Austrian Airlines to cut 1000 jobs
Austrian Airlines has said it will cut 1000 jobs following record losses in 2008 and amid a troubled bid by German flag carrier Lufthansa to take over the company.
Eurozone unemployment hits 10-year high
The unemployment rate in the 16 euro countries climbed to a 10-year high of 9.5 per cent in May as companies cut jobs to survive Europe's worst post-war recession, according to EU data on Thursday.
US jobless rate hits 26-year high
ANNE DAVIES Hopes the US economy may be on the mend suffer a setback as another 467,000 lost their jobs last month.
ECB to hold rates at record low
The European Central Bank is expected to keep euro zone interest rates unchanged today and say it sees faint signs of economic recovery.
China aims to settle iron ore price this month
Chinese steelmakers aim to conclude annual contract iron ore talks by the end of this month and may consider trimming their price cut demands.
Rio Tinto rights issue going all right
Rio Tinto pulls off one of the world's biggest rights issues, with shareholders taking up almost all its London shares on offer under the $US15.2b issue.
US auto sales declines show signs of stability
US car and truck sales showed signs of stabilising in June after a year of sharp declines, but every major automaker except Honda Motor Co reported lower sales than in May.
Madoff fraud: $US231m set aside for claims
A court-appointed trustee unravelling Bernard Madoff's massive fraud so far has allotted $US231 million ($286.73 million) from a securities industry fund that compensates victims - a record amount for the fund, but a mere fraction of what was lost.
EU probes Lufthansa takeover of Austrian Airlines
The European Commission has put off a ruling on Lufthansa's takeover of Austrian Airlines and opened an indepth probe that could jeopardise the deal, which was opposed by rival airlines.
India's Maruti Suzuki posts record exports in June
India's largest carmaker Maruti Suzuki India, majority-owned by Japan's Suzuki Motor, has announced record exports in June, led by improved demand across European markets.
Ford US sales drop 10.7% in June
Ford Motor Co says its June US sales fell only 10.7 per cent from a year earlier, a far smaller drop than in previous months and a sign that auto sales may be recovering.
WTO cuts trade forecast, sees rising protectionism
The World Trade Organisation has warned of rising protectionism amid the economic crisis as it sharply cut its forecast for trade volumes of developed and developing economies this year.
US private sector cut 473,000 jobs in June: ADP
The US private sector shed 473,000 jobs in June, a survey by payrolls firm ADP has shown on Wednesday, highlighting ongoing weakness in the labour market despite signs the economy is stabilising.
US manufacturing index shrinks less than expected
A report on US manufacturing activity shows the sector contracted less than expected in June, posting its best showing since last August and another sign that a recovery may be near.
World Bank commits $US58.8b to battle crisis
The World Bank says it has allocated a record $US58.8 billion ($72.98 billion) in the fiscal year just ended as it scrambled to help countries cope with the global economic crisis.
