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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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