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Site: BBC News | Business | World Edition

05/12/2008, 07:05

'We made mistakes' says GM boss.

General Motors boss Rick Wagoner and his Ford counterpart Alan Mulally admit making mistakes in the way they ran the firms.

ECB cuts eurozone rates to 2.5%.

The European Central Bank delivers its biggest rate cut, lowering interest rates to 2.5% from 3.25%.

Downturn to hit Philips profits.

Electronics giant Philips says the downturn is without "recent comparison" and that its revenue will be less than expected.

Pound hits new low against euro.

The British pound hits a historic low against the euro after the Bank of England cut interest rates to 2%.

US Fed urges foreclosures push.

US Federal Reserve chairman Ben Bernanke calls on the government to take action to stem the increasing number of home foreclosures.

Telecom giant AT&T slashes jobs.

US telecommunications company, AT&T, announces 12,000 job cuts, or 4% of its workforce, in an effort to reduce costs.

France unveils huge stimulus plan.

French President Nicolas Sarkozy unveils a 26bn-euro ($33bn, £23bn) stimulus plan to help France fend off financial crisis.

Crisis overshadows US-China talks.

Senior US officials are in China for economic talks, an event overshadowed by the global financial crisis.

Sweden cuts interest rates to 2%.

Sweden's central bank, the Riksbank, cuts its key interest rate by a record 1.75 percentage points to 2%.

Argentina backs airline seizure.

Argentina's lower house of Congress approve a bill to seize back the country's biggest airline from its Spanish owners.

DFS advert banned for inflated sofas.

An advertisement for DFS is banned by the Advertising Standards Authority because the sofas in it are misleadingly large.

GM tries to block tracking of its private jets after Washington flap.

General Motors asks the US aviation authorities not to track its private jets after being criticised for extravagance as it asked for government help.

Guidelines for financial journalists.

no summary/geen samenvatting.

Enough done?.

ECB cut interest rate, but not as fast as others

Wary consumers.

Economic hardship greets The Box as it arrives in LA

Asian autonomy.

Has the time come for an Asian Monetary Fund?

Water shortage.

Ghanaians struggle daily to get hold of regular supplies

Boom to bust.

Latvia's once rampant economy seeks economic aid

Market fears.

Looming recession scares investors away from shares

Bank cuts UK rates to 57-year low.

The Bank of England has cut interest rates by one percentage point from 3% to 2%, their lowest level since 1951.

House prices still falling fast.

House prices are falling at a faster rate, the Halifax says, as prices fell 2.6% between October and November.

Credit Suisse to cut 5,300 jobs.

Troubled Swiss banking giant Credit Suisse says it is shedding another 5,300 jobs from its workforce.

Firms agree to build UK reactors.

A group of British and French firms join forces to build new-generation nuclear reactors in the UK.

Rwanda 'could grow by 10%'.

Rwanda's booming manufacturing and farming sectors could push growth in the country to 10% this year, its central bank says.

Daewoo leases African plantation.

South Korean firm Daewoo says it is leasing a vast tract of land in Madagascar, which will produce half of its corn supply by 2023.

Bail-out plan 'lacks oversight'.

The US $700bn bail-out plan is being implemented without adequate safeguards, a Congressional watchdog says.

US carmakers publish rescue plans.

Struggling US carmakers General Motors, Ford and Chrysler ask the government for help worth a total of $34bn.

Japan oil rivals in merger deal.

Japan's Nippon Oil is merging with Nippon Mining Holding in an attempt to weather falling oil prices and weak demand.

Large cut in Thai interest rates.

Thailand's central bank cuts interest rates by the biggest amount in eight years, as it aims to lift an economy hit by unrest.

German car downturn 'worst ever'.

The downturn in the German car market is "at a pace and magnitude that has never happened before", the country's main autos trade body warns.

Eurozone retail sales slump 2.1%.

Retail sales across the 15 nations that share the euro fell more than expected in October, increasing the chance of an interest rate cut.

Dubai shares hit despite promises.

Dubai's stock market falls 5% to its lowest level in four years despite assuring investors it can meet its debt obligations.

Oil price goes below $50 a barrel.

Oil prices fall below $50 a barrel amid growing fears over a global recession and lower demand for oil.

Shares up as India market reopens.

Indian shares rise as the market reopens, a day after Thursday's attacks in Mumbai, India's business capital.

Cobra Beer mulls sale or alliance.

The founder of Cobra Beer, Lord Bilimoria, considers a sale or a 'strategic partnership' for the 'less gassy' lager.

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