Cash still isn’t king, Buffett says
Stocks have been hammered, and many investors are fleeing to cash or stock alternatives like bonds and gold. Even now, the Oracle of Omaha says that’s the wrong move. History agrees.
October 23, 2008
United we stand, capitalist we fall?
Recent government interventions have been a big move away from the free market that has fueled the United States’ economic power.
Financial crisis ‘like a tsunami’
Former Federal Reserve chairman Alan Greenspan likens the financial turmoil to a “once in a century credit tsunami”.
Goldman Sachs to cut 10% of staff
Financial firm Goldman Sachs is to reduce its global workforce of 32,000 staff by 10%, it has confirmed.
Sarkozy plans new French wealth fund
France is to set up a new ’strategic investment fund’ to stop French companies from falling into the hands of foreign ‘predators’. It will focus on shoring up smaller French groups judged strategically important because of their technology or sector
Royal Mail says fall in post volumes accelerating
The state-owned operator more than doubled its profit in the six months to September, to £177m, but volumes fell 4% over the last six months as the economic downturn combined with increasing competition
DSG suffers amid European downturn
The owner of PC World and Currys said consumer confidence had ’significantly deteriorated across Europe’ in recent weeks as it shaved £30m off capital expenditure and reported a 7% fall in sales