The U.S. economy shrank the most in the fourth quarter since 1982 as consumer spending recorded the worst slide in the postwar era, a trajectory that’s likely to continue in coming months.
The 3.8 percent annual pace of contraction was less than forecast, with a buildup of unsold goods cushioning the blow. Excluding inventories, the decline [...]
Israeli President Shimon Peres said his country’s relationship with Turkey will be unaffected by a clash yesterday with Turkish Prime Minister Recep Tayyip Erdogan on a panel at the World Economic Forum in Davos, Switzerland.
There is “no conflict” with Turkey, Israel’s closest Muslim ally in the Middle East, Peres said at a meeting with reporters [...]
Gulf Finance House EC, Bahrain’s biggest Islamic investment bank by market value, had a fourth- quarter loss after it made “provisions on investments.”
The bank reported a loss of $10 million compared with net income of $108.8 million in the year-earlier period, the Manama, Bahrain-based bank said in an e-mailed statement late yesterday. Gulf Finance House [...]
Oman oil’s official price on the Dubai Mercantile Exchange Ltd. rose for the first time since July after OPEC’s compliance with output cuts limited supplies from the Middle East for Asian refiners.
Oman crude oil for March loading was set at $44.34 a barrel, up 8.7 percent from February’s $40.79 a barrel, based on a Bloomberg [...]
Geopolitical risk in the Middle East deters investors and is a concern for the oil industry, Nobuo Tanaka, executive director of the International Energy Agency, said in a Bloomberg Television interview.
Risks “certainly hamper investment into the region,” Tanaka said today at the World Economic Forum in Davos. He named Turkey a “very strategic transit country [...]
Qatar may buy stakes in three “blue-chip” companies and increase existing holdings, the Gulf state’s prime minister said.
“We cannot build all our reserves on one kind of investment, so we have to spread it,” Hamad bin Jasim said in a Bloomberg Television interview yesterday at the World Economic Forum in Davos, Switzerland. “We are talking [...]
Jan. 30 (Bloomberg) — Caterpillar Inc. said it will fire 2,110 factory workers at three Illinois factories as the global recession saps sales at world’s largest maker of bulldozers and excavators.
The cuts increase the 20,000 job losses Caterpillar outlined on Jan. 26, when it posted fourth-quarter profit that fell by almost a third. The latest [...]
Stocks sputtered as the market digested a dire reading on fourth-quarter gross domestic product that punctuated a week of grim economic reports.
The Dow Jones Industrial Average slid 91 points to 8057 in recent trade after data showed that GDP contracted at a 3.8% annual rate at the end of last year, which was somewhat better [...]
U.S. business activity shrank in January for the fourth consecutive month, a sign the downturn in manufacturing may worsen this year.
The Institute for Supply Management-Chicago said today its business barometer decreased to 33.3, the lowest reading since March 1982, from 35.1 the prior month. Readings below 50 signal a contraction.
Companies may keep curtailing investment and [...]
You only have so much to spend. Better prioritize.
Marketing in the digital age offers entrepreneurs a bewildering array of enticing tools. But how to test them all with limited resources?
Answer: Only pursue the ones that align most closely with your strategic marketing plan. If you don’t have a plan, prepare to blow a lot of [...]