Sunday, March 01, 2009

It's the economy (March 2009)

As the World economy suffers from its contractions and offers up a feeling of unknown waters to be travelled, the world press continues to outline the major stories that are impacting on the events of the day.

We'll follow their revelations through this month from our aggregator of record. Our back issues can be found at this link.

New York Times

Mar 13-- The Magi of the Meltdown
Mar 13-- China’s Leader Says He Is ‘Worried’ Over U.S. Treasuries
Mar 13-- Tired of Looking for Work, Some Create Their Own
Mar 13-- Thoughts on Walking Away From Your Home Loan
Mar 11-- Asian Markets Rise in Early Trading
Mar 10-- This Is Not a Test. This Is Not a Test.
Mar 10-- Some Banks, Citing Strings, Want to Return Aid
Mar 10-- Those Who Lost Savings Find Little Comfort
Mar 10-- Follow the Greenback road
Mar 10-- Bernanke Says Financial Rules Need an Overhaul
Mar 10-- Banks Counted on Looting America’s Coffers
Mar 10-- Mr. Obama’s Trade Agenda
Mar 8-- A Rising Dollar Lifts the U.S. but Adds to the Crisis Abroad
Mar 8-- World Bank Says Global Economy Will Shrink in ’09
Mar 8-- At Treasury, a Sense of Cascading Problems and No Relief
Mar 8-- CNBC Thrives as Hosts Deliver News With Attitude
Mar 8-- Could Customized Newspapers Bring Readers Back?
Mar 8-- GM Canada Offers Pact That Avoids Wage Cuts
Mar 7-- The Last Days of the Oligarchs?
Mar 7-- Nationalize? Hey, Not So Fast
Mar 7-- How to Deal With a 3 A.M. Fear
Mar 7-- A.I.G., Where Taxpayers’ Dollars Go to Die
Mar 7-- The Inflection Is Near?
Mar 7-- The Armageddon Waltz
Mar 6-- Miracles Take Time
Mar 6-- Ever Closer to 1982
Mar 6-- Hanging On to Health Coverage as the Job Goes Away
Mar 6-- Savings Accounts for All: Simple, but Not Easy
Mar 6-- Dow and Rohm Revive Merger Talks
Mar 6-- Pressure Rises on British Banks to Take Government Aid
Mar 5-- The Big Dither
Mar 5-- The Deal That Fueled Subprime
Mar 5-- Slump Humbling Blue-Chip Stocks
Mar 4-- A Sign of Hope for China's Economy
Mar 3-- Ex-Leaders of Countrywide Profit From Bad Loans
Mar 3-- Stimulus Flows Into Patchwork of State Transport Projects
Mar 3-- So You’re Dead? That Won’t Stop the Debt Collector
Mar 3-- Fed Chairman Backs Call for Higher Spending
Mar 3-- For Swiss Banks, an Uncomfortable Spotlight
Mar 3-- Countries Stepping in to Finance Export Trade
Mar 3-- Already Bleak, Auto Sales Take a Fall in February
Mar 3-- A.F.L.-C.I.O. to Support Nationalizing Banks
Mar 3-- Job Losses Show Breadth of a Recession
Mar 3-- Stage of Fools
Mar 3-- Obama’s Ball and Chain
Mar 3-- A.I.G.: Rage Against the Machine
Mar 2-- Revenge of the Glut
Mar 2-- U.S. Likely to Keep the Reins on Fannie and Freddie
Mar 2-- The Return to Irrational Exuberance
Mar 2-- A Remake of A.I.G. Is the Goal of Rescue
Mar 2-- Dow Falls Below 6,800 in Lowest Close Since 1997
Mar 2-- The Case for Saving A.I.G., by A.I.G.
Mar 1-- U.S. Is Said to Offer $30 Billion More to Help A.I.G.
Mar 1-- Growing Economic Crisis Threatens the Idea of One Europe
Mar 1-- India Maintains Its Sense of Optimism and Growth
Mar 1-- In Denver, Residents Lament the Closing of a Newspaper

Globe and Mail

Mar 31-- Air Canada moves to avoid bankruptcy filing
Mar 31-- Honda offers buyouts, cuts pay in North America
Mar 31-- Buy abroad, Harper tells banks
Mar 31-- Clock ticking, bankruptcy a real option
Mar 31-- Find more cuts, Premier tells GM and CAW
Mar 31-- Economic contraction continues in January
Mar 31-- Ford, GM to cover U.S. car payments if buyer laid off
Mar 31-- Oil price rises along with stocks
Mar 31-- Sun-Times Media seeks bankruptcy protection
Mar 31-- China speaks and the world finally listens
Mar 31-- A failed policy is running on fumes
Mar 30-- Detroit: A city in crisis
Mar 30-- After G20, it's on to the P10 (provinces, that is)
Mar 29-- GM chief Wagoner to resign
Mar 29-- Taxes won't be raised at recession's end, says Harper
Mar 27-- Reviving the shadow banking system
Mar 27-- Provinces demand seat at table
Mar 27-- Jeff Rubin leaving CIBC
Mar 27-- Debt crisis stalks Magellan Aerospace
Mar 27-- Oil price skids below $53
Mar 27-- Johnson Controls to close 10 plants
Mar 27-- Deflation stalks Japan; Europe's inflation slides
Mar 27-- Obama says automakers need ‘drastic changes'
Mar 27-- Lululemon's plan for lean times
Mar 26-- Lenders seek Ottawa's aid as thousands risk losing their homes
Mar 25-- Speaking of doom, what if Obama only makes it worse?
Mar 24-- Geithner seeks expanded powers
Mar 24-- EI recipients, personal bankruptcies climb in January
Mar 24-- Suncor-Petrocan tout ‘national champion'
Mar 24-- EU rejects China's calls for global currency
Mar 24-- Scotiabank CEO sees signs of financial stability
Mar 14-- Canada's dirty subprime secret
Mar 13-- Tax fight imperils Chrysler's survival
Mar 13-- Magna's in the driver's seat (for now)
Mar 13-- Has Sabia jumped from the frying pan into the fire?
Mar 13-- Hunger for stimulus grows among G20
Mar 13-- Global trade slump raises talk of 'deglobalization'
Mar 13-- G20 huddles amid signs of hope
Mar 13-- China may spend more to get growth
Mar 13-- Job losses accelerate
Mar 13-- Recession illuminates 'ineffective' EI flaws
Mar 13-- Exports plunge by 9%
Mar 13-- When to get back into the market?
Mar 13-- Caisse taps Sabia as new chief
Mar 13-- Canada's place is on the B list
Mar 13-- Madoffs worth more than $823-million, documents show
Mar 13-- Abitibi plan would slash debt
Mar 13-- Politicians dismiss threats from Chrysler as 'ham-fisted'
Mar 13-- Dodge to lead global-risk group
Mar 12-- Madoff goes to jail on 11 guilty pleas
Mar 12-- Chrysler threat ‘ham-fisted,' Ontario says
Mar 12-- Charest agrees to hold hearings on Caisse losses
Mar 12-- Bernanke turns to TV to get message out
Mar 12-- IMF dashes hope of short recession
Mar 12-- Alaska legislators call for review of TransCanada pipeline licence
Mar 12-- Irish firm targets Alberta wind power
Mar 12-- Oil spikes on rumors of Russian oil cuts
Mar 10-- Wall Street surges in best day of 2009
Mar 10-- Toyota Canada joins call for bailout alternatives
Mar 10-- Despite assurances, Buy American lives
Mar 10-- Cable companies call Internet levy unlawful
Mar 10-- Canada will be first to rebound, PM says
Mar 10-- CTV cuts Canada AM jobs, axes Montreal morning newscast
Mar 10-- SEC may reinstate ‘uptick' rule
Mar 10-- Hopes slim for Alberta oil royalty plan
Mar 10-- Seattle Post-Intelligencer survival in jeopardy as deadline passes
Mar 10-- Only U.S. buyers can save car makers, minister says
Mar 10-- Renewed fears rattle through credit markets
Mar 10-- EDC ready to use expanded powers to ease credit crunch
Mar 10-- IMF chief warns world entering ‘Great Recession'
Mar 10-- Even the strongest getting pummelled by the soaring greenback
Mar 10-- A sobering 'what-if' for investors
Mar 8-- A ‘much worse disaster' in U.S.
Mar 8-- GM strikes cost-cutting deal to meet bailout demands
Mar 8-- Trade woes to hit developing nations hard
Mar 8-- The entrepreneurs who see opportunity in crisis
Mar 7-- Canada envy, amid a global meltdown
Mar 7-- Britain takes controlling stake in Lloyds
Mar 7-- B.C. ports workers, employers ratify collective agreement
Mar 7-- The binge is over, now get ready for the cure
Mar 6-- Don't pass up a good opportunity over dividend jitters
Mar 6-- U.S. posts worst rate of job loss since 1945
Mar 6-- Smaller, highly regulated – and missed the carnage
Mar 6-- GM shares fall to 75-year low
Mar 6-- New face, same view at SNC
Mar 6-- Financial watchdog tightens leash on banker pay
Mar 5-- GM auditors raise doubts over viability
Mar 5-- Ford off the dole, but for how long?
Mar 5-- CAW willing to make sacrifices, Lewenza says
Mar 5-- GM pensions: Who's responsible?
Mar 5-- MEC seeks creditor protection
Mar 5-- Stimulus needed now, Bank of Canada says
Mar 5-- Bank of England, ECB cut rates to record low
Mar 5-- Canadian Superior seeks bankruptcy protection
Mar 5-- U.S. mortgage woes break records
Mar 5-- Talisman profit jumps to $1.2-billion
Mar 5-- CIBC to raise $1.6-billion in Tier 1 debt issue
Mar 5-- U.S. factory orders fall for record sixth month
Mar 5-- Angiotech Pharmaceuticals posts $77-million loss
Mar 5-- Torstar laying off 60 at printing plant
Mar 5-- Wal-Mart surges ahead as most retailers report declines
Mar 5-- A glimmer of hope - in shipping
Mar 4-- Forget the shares, GE’s debt is the thing to watch
Mar 4-- Chrysler cuts 1,200 as auto crisis deepens
Mar 3-- ACE cancels vote on dissolution
Mar 3-- U.S. Steel to shutter Canadian operations
Mar 3-- Oil patch applauds Alberta's incentives
Mar 3-- Mutual funds bulk up by $1.8-billion
Mar 3-- GM Canada loses hold on No. 1
Mar 3-- Layoffs don't violate commitment to Canada, Vale says
Mar 3-- Ontario faces $18-billion deficit
Mar 3-- Lending rate near zero
Mar 3-- ‘I share your anger' over AIG, Bernanke says
Mar 3-- Britain could start creating new money this week
Mar 2-- The Second Great Depression? It's too soon to judge
Mar 2-- AIG loss spooks markets
Mar 2-- Oil prices plummet
Mar 2-- Economy takes 3.4% dive
Mar 2-- As markets tumble, all eyes on AIG
Mar 2-- ACE Aviation delays special meeting
Mar 2-- Stanford scandal hits 225 Canadians
Mar 2-- ‘Unfair' insurers under fire
Mar 2-- Bell boosts presence in buying The Source
Mar 2-- Nortel burns through $1-billion
Mar 2-- Gold runs out of steam
Mar 2-- A Depression doesn't have to be Great
Mar 1-- EU leaders reject bailout for eastern nations
Mar 1-- AIG to get up to $30B more in aid: reports
Mar 1-- HSBC to reduce U.S. lending: report
Mar 1-- Central bank tactics pushed to brink
Mar 1-- Flash memory drive maker Spansion files for Chapter 11

National Post

Mar 31-- Tomorrow, Canada officially begins digging itself out of the recession (we hope)
Mar 29-- GM CEO Rick Wagoner to step down: source
Mar 29-- Chrysler Canada talks await Obama statement
Mar 29-- Harper ‘comfortable’ with U.S. plans on auto industry
Mar 29-- Countries looking after their own first
Mar 27-- Blame it on the followers of Keynes
Mar 26-- No shortage of government money looking for new projects
Mar 24-- Mixed reviews for Suncor expansion project plan
Mar 24-- Wall Street heading back to the future
Mar 24-- Obama calls for global action to end downturn
Mar 24-- Wave of consumer bankruptcies expected
Mar 24-- Banks stone-faced on 'super regulator' move
Mar 24-- Mega-merger great for Petro-Canada but jury out on Suncor
Mar 13-- 'Extraordinary measures' necessary: Harper
Mar 13-- Ontario bearing the brunt of the job losses
Mar 13-- Unemployment rate rises to 7.7% on 82,000 job losses
Mar 13-- Ford says GM-CAW deal is too weak
Mar 13-- Oil falls toward US$46 on bearish demand forecasts
Mar 13-- February unemployment rates by province
Mar 13-- AbitibiBowater pulls itself back from the brink
Mar 13-- Manulife may need to raise as much as $2-billion: CIBC
Mar 13-- Brewers get bigger, share prices don't
Mar 13-- Financials cheap and full of growth
Mar 12-- Reckless U.S. consumers caused recession: Harper
Mar 12-- Green winds blow in to Alberta from Ireland
Mar 12-- Stimulus budget passes in Senate
Mar 12-- CAW 'incredibly angry' over Chrysler's stand
Mar 12-- Ottawa won't change the rules for Chrysler
Mar 12-- Canada will suffer more job losses this year
Mar 12-- Canada a net creditor nation -- for now
Mar 12-- Central Bank focus on financial firms' risk
Mar 12-- U.S. retail sales data lights a fire under stocks
Mar 12-- Markets continue rally, but don't call it a full-fledged recovery
Mar 12-- Nortel may be broken up and sold: reports
Mar 12-- Was Milton Friedman right about the euro?
Mar 12-- Slight cost to investing with conscience
Mar 12-- Stay short the franc, buy gold
Mar 12-- RIM taking recession in stride
Mar 11-- Reality check on Canada's economy
Mar 10-- Tough times for media owners
Mar 10-- ING Canada weighs up bid for Aviva units
Mar 10-- Canada banks roll out new investment products to retail investors
Mar 10-- Citigroup news drives TSX up 4%
Mar 10-- Ottawa may relax oversight of foreign takeovers
Mar 10-- Citigroup brings rare joy to the markets
Mar 10-- Washington big guns take up oil sands cause
Mar 10-- Toyota Canada head says $12B plan needed 'now'
Mar 10-- Harper boasts of Canada's recession plan
Mar 10-- Harper: American economy hit twice as hard as Canada's
Mar 10-- Loonie downturn has run too far: Citigroup
Mar 8-- Ball in Ottawa’s court after CAW, GM reach key settlement
Mar 8-- Mining layoffs: learning from the past or just panicking?
Mar 8-- Manulife has go ahead to pursue AIG assets
Mar 7-- Floating a rate
Mar 6-- How to play the trading card field
Mar 6-- Oklahoma oil men blame Canadians for lower profits
Mar 6-- Manulife, Sun Life left reelin' in the years
Mar 6-- America headed for double-digit jobless rate, economists fear
Mar 6-- 'Obama Bear Market' punishes investors
Mar 6-- Ottawa to stand tough against foreign owners
Mar 6-- OECD warns global outlook weakening
Mar 6-- Saskatchewan dodges the recession -- so far
Mar 6-- Europe seeks specifics on GM's plans in region
Mar 6-- Merrill Lynch discovers trading 'irregularity'
Mar 6-- Canadian Superior granted bankruptcy protection
Mar 6-- Wells Fargo cuts dividend 85%
Mar 5-- E.U. free trade deal seen worth $12-billion
Mar 5-- 'Going-concern warning' raises spectre of GM bankruptcy filing
Mar 5-- CAW to meet with GM as carmaker warns on bankruptcy
Mar 5-- Ottawa, Washington fear for Detroit's viability
Mar 5-- Clock ticks for GM's Canadian workers
Mar 5-- Canada free to talk trade with the E.U.
Mar 5-- US bankruptcy filings up 31% in 2008
Mar 5-- Magna Entertainment files for Chapter 11 in U.S.
Mar 5-- Wal-Mart shows retail differences in U.S., Canada
Mar 3-- 'Good deals' to be had in depressed stock market: Obama
Mar 3-- Alberta takes $1.5B hit in slashing royalty rates
Mar 3-- GM loses its Canadian crown in February
Mar 3-- CTVglobemedia cancels shows, cuts a third of its workforce
Mar 3-- Masonite proposal spells bad news for private equity
Mar 3-- TSX establishes another bear market closing low
Mar 3-- Oil rises nearly 4% on OPEC, stock bounce
Mar 3-- Oil sands lost in U.S. talks: critics
Mar 3-- Steady as she goes for Canada's top banks
Mar 3-- Two Aboriginal-themed mining funds launched
Mar 2-- No sign we have tamed this bear yet
Mar 2-- TSX down 49% from last summer's peak
Mar 2-- Loonie hits three-month low on oil, risk aversion
Mar 2-- Oil drops 10% as economic gloom outweighs OPEC
Mar 2-- Global factory PMI contracts at slower pace in February
Mar 2-- U.S. boosts rescue after AIG posts record loss
Mar 2-- HSBC shutting most of U.S. consumer lending business
Mar 2-- Grim CIBC auto report seen as 'alarmist'
Mar 2-- CAW wants Chrysler to commit to Ontario plants
Mar 2-- B.C. hikes royalty breaks to woo oil and gas industry
Mar 2-- Canada remains relatively strong: Harper
Mar 2-- Bell Canada to buy Circuit City’s The Source
Mar 2-- Freddie Mac chief quits after six months
Mar 2-- Obama’s plan for unfree trade
Mar 2-- 'Devastated' junior miners in scramble for cash
Mar 1-- EU ready to speed expansion of euro zone
Mar 1-- U.S. investors slow to recover confidence
Mar 1-- Nortel pays big bonuses to keep execs
Mar 1-- Shoppers Drug Mart's cure for the recession
Mar 1-- Bleak projections for mining industry's biggest annual event

Toronto Star

Mar 13-- Ontario leads jobless surge
Mar 13-- Stocks surge to four winning sessions
Mar 13-- World Bank chief sees 'dangerous year'
Mar 13-- World oil demand still falling, OPEC says
Mar 13-- China worries about holding U.S. debt
Mar 13-- Auto rescue deal may be unravelling
Mar 13-- Auto workers feel caught in crosshairs
Mar 13-- Loan costs rising along with credit risk, MPs told
Mar 13-- TD predicts longer, deeper recession
Mar 13-- Why auto bailout needs to get done
Mar 13-- EI inequities could be easily corrected
Mar 10-- Tories issue budget report required by Liberals
Mar 10-- Canada better off than others, Harper says
Mar 10-- Hiring intentions worst since '94
Mar 10-- Jobs data grim, Flaherty says
Mar 10-- U.S. wholesale inventories fall again
Mar 10-- Shipping industry left with an empty feeling
Mar 10-- GM and CAW deal not enough, Clement says
Mar 10-- China's domestic auto sales surge
Mar 10-- Is four-day week new way to save jobs?
Mar 10-- Slumping markets take toll on realtors
Mar 8-- Some companies still hiring despite recession
Mar 8-- CAW makes concessions in GM deal
Mar 8-- Good time to buy stocks, if you're thinking long-term
Mar 8-- Manulife guarantee won't last
Mar 7-- Companies caught in Whirlpool of debt
Mar 7-- David Olive: Will the economy get worse?
Mar 7-- Thomas Walkom: Will the economy get worse?
Mar 7-- Speed up stimulus: Flaherty
Mar 7-- U.S. jobless rate reaches highest level since 1983
Mar 7-- Downturn lurking for Canada's banks: Analysts
Mar 7-- Baltic states could get big boost from joining euro zone
Mar 7-- Firms' bullying over bill payment might backfire
Mar 7-- How low can we go is any analyst's guess
Mar 7-- TSX drops to lowest point since fall of 2003
Mar 6-- Big trouble for big-box stores
Mar 5-- GM auditors raise bankruptcy fear
Mar 5-- CAW starts talks with GM today
Mar 5-- Don't get spooked, banker tells Canadians
Mar 5-- CIBC sees mortgage market slowing
Mar 5-- CIBC to raise $1.6 billion in Tier 1 notes
Mar 4-- 1,200 jobs cut at Windsor Chrysler plant
Mar 3-- GM in third place as Canadian car and truck sales plunge
Mar 3-- CTV cuts 118 jobs at A Channel stations
Mar 3-- Tesla electric sports car coming to Canada
Mar 3-- Big banks cut lending rates
Mar 3-- U.S. Ford sales fell 48% in February
Mar 3-- No quick economic turn around, Obama says
Mar 3-- Visa CEO paid $17.3M in 2008
Mar 3-- Honda Canada sales fall by almost half
Mar 3-- Vale Inco to cut 350 Canadian jobs
Mar 2-- Economists debate using the D-word
Mar 2-- Markets hit multi-year lows
Mar 2-- Deep recession began in late 2008: StatsCan
Mar 2-- AIG breaks record with $61.7B loss
Mar 2-- Nortel lost $2.1B (U.S.) in Q4
Mar 2-- Harper rolls dice to play oil sands 'wild card'
Mar 2-- Bay Street: Bank set to chop rates
Mar 2-- Bell Canada buys 750 The Source stores
Mar 2-- Beleagured auto suppliers look for relief
Mar 1-- Separatist 'facts' need challenging
Mar 1-- How Ford dodged a bailout, so far
Mar 1-- Risk-free notes can be anything but
Mar 1-- Buffett optimistic despite worst results in 40 years
Mar 1-- Persian Gulf's 'City of Gold' losing its glitter
Mar 1-- AIG to get up to $30B (U.S.) more in federal aid: Reports
Mar 1-- Electric motor polarizes opinion

Vancouver Sun/Province

Mar 13-- Bad economic news calls for budget rewrite, say critics
Mar 13-- B.C. loses 4,900 jobs and Canada loses 83,000 in February
Mar 13-- BC Hydro rates to rise 11 per cent by 2010
Mar 13-- B.C.’s real estate market worth half what it was a year ago
Mar 10-- Sharp fall in housing starts
Mar 10-- Vancouver-area job-seekers bound to find slimmer pickings
Mar 10-- Vancouver employers plan to cut back on hiring
Mar 10-- Credit crunch to squeeze commercial real estate in 2009
Mar 3-- February real estate sales continue slide
Mar 3-- Beetle won’t kill Interior sawmilling: forests minister
Mar 2-- Two men accused in $30m-plus real estate fraud appear in court
Mar 2-- Select Vancouver studios dodge video game destruction
Mar 1-- Credit crisis hits program to woo foreign workers

World Press (England, Scotland, Ireland)

Mar 9-- Barclays faces scrutiny by City as it explores state cover for toxic loans
Mar 9-- China takes charge of keys to technologies' future
Mar 9-- Brown cannot shirk the blame for Lloyds
Mar 9-- Believers in free markets are fighting back
Mar 9-- A 1980s-style slump may be as bad as it gets
Mar 9-- Don't blame the bankers - deregulation and spending caused it too, says Williams
Mar 9-- Jobless executives to get special help
Mar 9-- The policy to print money is right but we must be told how it works
Mar 8-- The global cash boosts will work, eventually, but beware flying bricks
Mar 8-- BP snubs Lord Browne over share scheme
Mar 8-- Russia looks to UK for lessons on banking crisis
Mar 8-- Wind farms seek state aid to keep moving
Mar 7-- Why the Bank of England may have just signed free banking's death warrant
Mar 7-- Principles confirms 66 store closures with hundreds of jobs lost
Mar 5-- China set 8% target for economic growth
Mar 5-- World's poor suffering most in the credit crunch
Mar 2-- New 'Iron Curtain' will split EU's rich and poor
Mar 2-- Bank of England set to pump cash into economy to avoid deflation
Mar 2-- Are we making the same policy mistake as the Japanese?
Mar 2-- It's a sticky wicket all right and suddenly the game is baseball
Mar 2-- Rebel prepares fresh assault as HSBC gets set for £12bn call and payout cut
Mar 2-- The longer Lloyds is left, the worse things will get
Mar 2-- Manufacturers say sector will lose 140,000 jobs
Mar 2-- Michael Spencer forced to inject £70m as City Index clients default
Mar 2-- HSBC hit by rising bad debts in US
Mar 1-- AIG to receive new $30bn lifeline
Mar 1-- Up to 600 jobs on the line at broadcasters ITV and Five
Mar 1-- New 'Iron Curtain' threatens to split Europe over economic crisis

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