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A daily round-up of economic news: Telecommunications company Motorola will break in half, axing off its unprofitable mobile phone business. The firm helped pioneer the mobile phone industry in the late 1970s and early 1980s, but its phone sales have plunged in recent years while other businesses–including network, television, and radio equipment–have grown. Factory orders in America fell by 1.7 percent in February, surprising economists who had anticipated an uptick. Manufacturing machinery
Financial Markets Still Struggling, Traders Bet On Another 50bp In April
Financial Markets Still Struggling, Traders Bet On Another 50bp In April The credit markets are still under considerable pressure, though investor confidence in corporate debt seems to be on the rebound. Over the past week, the Federal Reserve made another attempt at reviving confidence among borrowers and lenders to thaw the credit freeze. On the back of the announced TSLF plan and 75bp rate cut, policy makers offered their first $50 billion liquidity injection into the market and expanded th
The generation that can t afford to retire because of soaring debt
The generation that can t afford to retire because of soaring debt Posted on March 26th, 2008 (10 hours ago) by blogger Soaring levels of debt among those in their late 50s and early 60s means many will have to keep on working long after their retirement age.On average, they owe at least four times as much as people of the same age a decade ago, according to a study. The debts do not include mortgages, if they have one, only unsecured loans such as credit or store cards. In a bleak warning