NEW YORK — The Bank of New York Mellon Corp. said Thursday it will cut its worldwide work force by 4 percent, or about 1,800 jobs, blaming the weak global economy. The Associated Press to cut 10 percent of work force Honda Motor Corp. said Friday it will cut production in Japan and Europe by [...]

Toyota Motor slashed its profit forecast Thursday, warning the global auto industry faces an “unprecedented” crisis as Asian stocks tumbled on fears the US is sinking deeper towards recession. The Japanese giant became the latest automaker to reveal plunging profits due to the financial crisis, following on the heels of BMW, Nissan and Honda. Toyota [...]

The U.S. government has just launched the greatest borrowing binge of all time — an orgy of new debt offerings that will almost surely kill the bond market, drive interest rates into the stratosphere and pound Wall Street to a pulp. Just this week, the U.S. Treasury announced that between last month and the end [...]

The U.S. government has just launched the greatest borrowing binge of all time — an orgy of new debt offerings that will almost surely kill the bond market, drive interest rates into the stratosphere and pound Wall Street to a pulp. Just this week, the U.S. Treasury announced that between last month and the end [...]

Anyone who believes a Depression is not on its way is…..dreaming Global Panic Spreads The largest debt bubble in the history of mankind is on the verge of deflating and collapsing as world leaders and central bankers fly around the globe to one crisis meeting after another. No sooner is one panic quelled or some [...]

In hard times, consumers turn to pawn shops for quick cash Republican & Herald – McClatchy-Tribune Information Services via COMTEX) –James Oldham walked into a neon-lit pawn shop on Centre Street, slapped a stack of DVDs up on the counter and in less than three minutes walked right back out, his pockets $80 thicker.It wasn’t [...]