|Drastic job cuts aheadfor UK financial industry
LONDON (AP): THOUSANDS OF jobs are likely to be slashed and annual bonuses severely crimped in Britain's financial sector because of the turbulence in equity and credit markets in recent weeks, economists said yesterday. Up to 5,000 positions could be cut...
ECB plans €40B for cash-hungry markets
FRANKFURT, Germany (AP): The European Central Bank, which has been pumping extra funds into money markets for two weeks, said yesterday it plans to auction supplementary three-month funds valued at €40 billion (US$53.97 billion) to provide more liquidity to cash-hungry markets.
Brazilians sign off on airplane deal
SAO PAULO, Brazil (AP):Brazilian aircraft manufacturer Embraer SA has signed a deal to sell 20 of its new E-195 large regional jets to local airline BRA Transportes Aereas.The deal, first announced in June, includes options for BRA to buy 20 more...