Archive for August, 2008
MELBOURNE, Australia – On Friday Ford Australia took measures to cut costs by terminating the services of up to 350 employees. This translates into 15% of the manufacturing work force for the company in the country.
Amid increasing fuel prices, toughening competition between the auto manufacturers resulting in a slump of sales, companies have to make severe cuts in their costs. This often translates into cutting the labor force. The effect of the downturn in the global auto industry has arrived in Australia as well. Read the rest of this entry
According to Singapore Telecommunications, its Q1 net profit drops 5.3 % compared to the Q1 net profit during the previous year.
Net profit in the first quarter to June was noted as 878 million Singapore dollars, while it was 927 million dollars during the same period in the last year. Singapore Telecom is considered Southeast Asia’s biggest telecom firm.
There was an increase in operating revenue that rose to 3.78 billion dollars from 3.57 billion dollars. The firm (also known as SingTel) warned that the earnings could be further hurt by the currency fluctuations. Read the rest of this entry
Isn’t a tragic with human beings facing with inflationary cycle in the world? Today, millions of people are combating with increasing prices of the oil and gasoline. So stunning is the rising inflation that has caused a recession just like 1930s in the U.S.
The oil prices increased at $138.54 per barrel in the United States that has effected other countries of the world and led towards an overall inflationary phase.
The Asian countries are deeply suffering from inflationary phase. The countries like Pakistan, India, Afghanistan, Iran, Indonesia, Bangladesh, Sri Lanka and Maldeep, etc are heavily struggling with the alarms and devastations of inflation. Read the rest of this entry
Time Warner has made a plan for a major surprising result for its combating internet venture AOL after it looked a steep diminishing in the subscriber numbers.
The media giant said, “It had taken some severe steps to dislodge the AOL’s content and access operations by the coming term”
The analysts suppose this could cover the distance for one or both of them to be sold by a deal.
The action of the strategic variations came as Time Warner reported a 28% decline in second-quarter lucrative, however said it was quite contented along with its great performance.
The company’s adding-granted ventures are suffering from the economic-recession which has shattered all media ventures. Read the rest of this entry
WASHINGTON: Tackled with the stresses at each turn enhancing redundancy, shattering development, credit problems and mounting inflation, the Federal Reserve left a vital interest rate fixation, carrying a risk that is the best ploy was no move by any means.
The next direction for rates possibly is expected to be inclined even till the next year and so.
Fed Chairman Ben Bernanke and all but one of his central bank members accepted on Tuesday to stop its vital rate alone at 2 % for the second immediate conference.
