Posts Tagged ‘prices’
In its latest world economic outlook report, the International Monetary Fund (IMF) says that if the financial crisis continues, the economic downturn in many countries will worsen. The report comes before IMF-World Bank meeting in the US this week.
The signs of a marked slowdown in growth are quite obvious in the global economy and there is a dire need to develop a decisive policy to restore financial confidence.
According to the report, the turmoil that is confined to the financial sector now is likely to spread. It estimates that the financial losses from the credit crisis will be around $1.4 trillion while in an earlier estimate the amount of financial losses was around $1 trillion. Read the rest of this entry
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
