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Bernanke: Fed Will Take Action If Economy Falters

Federal Reserve Chairman Ben Bernanke said the central bank will consider making another large-scale purchase of securities if the slowing economy were to deteriorate significantly and signs of deflation were to flare. He described the economic outlook as “inherently uncertain” and said the economy “remains vulnerable to unexpected developments.” » E-Mail This      » Add to Del.icio.us

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CIT has $1.07 billion loss before bankruptcy (Reuters)

Reuters – CIT Group Inc , the large U.S. consumer finance company, on Monday posted a $1.07 billion loss for the third quarter, the last full three-month period prior to its Chapter 11 bankruptcy filing. Read the original: CIT has $1.07 billion loss before bankruptcy … Read the original: CIT has $1.07 …

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Judge fast tracks CIT bankruptcy plan hearing

NEW YORK (Reuters) – A U.S. bankruptcy judge set a December 8 hearing to consider approval of CIT Group Inc’s reorganization plan, aiding the large commercial lender’s effort to emerge from bankruptcy by year’s end. Read more here: Judge fast tracks CIT bankruptcy plan hearing Read more from the original source: …

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France Telecom Suicides Spark Concern

The death of a French Telecom employee this week marks the 24th person in the company to commit suicide in the past 18 months. Some say huge layoffs brought on by the economic downturn could be a major factor in the large number of suicides. The company’s chief executive, Didier Lombard, faces calls for his resignation. » E-Mail This      » Add to Del.icio.us

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