AT&T plans to cut 12,000 jobs
Cuts will take place in December and throughout 2009

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The Bank of England has cut interest rates by one percentage point, from 3% to 2% - the lowest level since 1951.

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LONDON — The financial crisis hit hard among investment banks across Europe on Thursday, particularly in London.

Credit Suisse announced plans to cut 5,300 jobs, or 11 percent of its global work force, and the Japanese giant, Nomura, which acquired Lehman Brothers’ European business, said it planned 1,000 job cuts at its London office.

Germany’s Commerzbank will eliminate 1,200 jobs in London and shut Dresdner Kleinwort’s merger advisory unit in the city, adding to the hundreds of thousands of jobs financial institutions already cut worldwide.

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December 5, 2008
Central Banks Across Europe Cut Key Rates
By CARTER DOUGHERTY

BRUSSELS — The European Central Bank cut its benchmark interest rate by three quarters of a percentage point Thursday, joining other central banks in lowering borrowing costs to try to ease the economic impact of the financial crisis.

The European Central Bank, meeting in Brussels, cut its so-called rate by 75 basis points — to 2.50 percent from 3.25 percent — to help restart economic growth and to ease the financing problems of banks.

Earlier, the Bank of England reduced the key rate by 1 percentage point — to 2 percent from 3 percent — as it attempts to cushion the blow of an increasingly severe domestic recession.

That followed an unexpectedly large reduction just a month ago. Also Thursday, the Swedish central bank sharply reduced its main interest rate, in the first round of what was shaping up to be day of major moves by the global monetary authorities.

In Stockholm, the Riksbank cut its main rate by an extraordinary 1.75 percentage points — its biggest reduction ever — to 2 percent. It said it had moved forward its rate decision by two weeks to ease the deteriorating employment situation and meet its 2 percent inflation target. The central bank Oct. 23 had cut its interest rate by half a percentage point to 3.75 percent.

In Britain, the bad economic news mounted just hours ahead of the central bank’s monthly rate-setting announcement. The country’s biggest mortgage lender reported that house prices in Britain fell at their fastest monthly rate in 16 years during November and a car industry update showing that new car sales fell 37 percent from a year earlier.

On how to blog.
(By th queen of blog)

Die Minustruppe, die numehr die Österreichische Regierung bildet, und die für fünf Jahre nicht abgewählt werden kann, das und nichts sonst hat GUSI geschafft, wird angelobt.
Und bekommt keinen Applaus; nicht einmal von den eigenen Leuten.
Das arme Land.