Close

#Videocrux - Recession fear grips world's industry and markets Recession fear grips world's industry and markets
Fears of a deep global recession kept world markets under pressure Friday, as South Korea cut interest rates and the International Monetary Fund warned major economies will contract next year.
Incredibly difficult trading conditions for airline industries
Airline profits have come crashing down to earth. The sector is the latest victim of the financial crisis. Airlines in North America, Europe and Asia are all suffering from what one airline executive called "incredibly difficult trading conditions".
Automobile and fashion industries suffering a free fall
US manufacturers have reported profits in free fall, European companies are letting thousands of workers go, and warning signal shave also gone on for Tata, India's flagship car maker. Consumer products, like fashion, are feeling the pinch too. Germany's Hugo Boss group has reported a steep decline in earnings.
European leaders to work to stop the flow of crisis
European leaders got together on Friday to stem a crisis that's rapidly turning into a recession. Merkel, "We need more transparency for financial markets. We also need stronger institutions capable of acting globally." European governments have high hopes for next week's G20 summit in Washington. But financial markets remain doubtful.

• Videos
• Comments

Patent Pending | Copyright © 2007-2009 Videocrux Inc. All rights reserved.