Euro-sterling: In addition to the sharp correction in domestic property markets, international factors have been the source of significant headwinds facing the Irish economy. Earlier in the year, a relentless surge in global energy and other commodity prices was a considerable drag on purchasing power.
Tánaiste Mary Coughlan and Minister for Defence Willie O’Dea last week met Dell Computer founder and chief executive Michael Dell in Round Rock Texas, to try and save the Limerick plant that for almost two decades, was the PC giant’s sole manufacturing plant in the EMEA (Europe, Middle East, Africa) region. Dell told the ministers that a $3 billion cost-cutting plan is going ahead, leaving 2,000 jobs at risk in Limerick.
Tánaiste Mary Coughlan and Minister for Defence Willie O’Dea last week met Dell Computer founder and chief executive Michael Dell in Round Rock Texas, to try and save the Limerick plant that for almost two decades, was the PC giant’s sole manufacturing plant in the EMEA (Europe, Middle East, Africa) region. Dell told the ministers that a $3 billion cost-cutting plan is going ahead, leaving 2,000 jobs at risk in Limerick.
Letter from Asia: Asia will not escape the impact of the global economic recession in 2009 and Japan is already in recession.
Letter from Asia: Asia will not escape the impact of the global economic recession in 2009 and Japan is already in recession.
Big property developers are asking to be included in a new $200 billion loan program as a surge in commercial mortgages comes due.
Banks that once financed Dubai’s real-estate boom are facing the unprecedented challenge of defaults by overstretched borrowers.
Banks that once financed Dubai’s real-estate boom are facing the unprecedented challenge of defaults by overstretched borrowers.
President Bush has agreed to lend GM and Chrysler $17.4 billion on the condition these firms complete a plan to accomplish financial viability and loans of well over $100 billion will be needed eventually.
President Bush has agreed to lend GM and Chrysler $17.4 billion on the condition these firms complete a plan to accomplish financial viability and loans of well over $100 billion will be needed eventually.