Investment banks are vying to advise governments on the bailouts of troubled financial companies as they contend with a slump in fee income from the now quiescent mergers and acquisitions market.
The U.S. economy may be headed for its deepest and longest recession since World War II as mounting job losses take their toll on consumer confidence and spending.
Oil prices slipped further Wednesday, dipping below $54 on fears of global economic weakness that have sent crude down more than 60% in four months.
British interest rates will probably fall further, the Bank of England signaled on Wednesday, with the economy already sliding into recession and unemployment recording its biggest jump since 1992.
Delta Air Lines said it plans to cut overall flight capacity by 6% to 8% next year due to "the global economic recession and weaker demand for air travel." As result, passengers can expect flights to be crowded and fare deals to be scarce.
Industrial production in France and Italy fell in September as signs that both economies are already in recession slammed their auto industries. In France, the euro-area's second-largest economy, output dropped 0.5 percent from August, the Paris-based statistics office said today. Italy's industrial production fell 2.1 percent from August, the most in almost 10 years, said a separate report from the national statistics office in Rome.
Canadian cultural policy has long relied on two levers to promote Canadian content. First, regulators require broadcasters and cable companies to allocate a portion of their revenues to help support the creation of new Canadian content. Second, that content is granted preferential treatment through minimum "CanCon" requirements for both television and radio broadcasting.
The proposed offer would give EDF, the world’s largest nuclear utility, a solid foothold in the United States - the world’s biggest nuclear energy market - and represents a major plank of its global expansion strategy.
