McDonald’s same-store sales jump in November as economy sours
Dec 09 2008
Lauren Shepherd, The Associated Press December 8, 2008 - 7:26 p.m. NEW YORK - Consumers hungry for cheap meals boosted worldwide sales at McDonald's Corp.'s established locations by 7.7 per cent in November, more impenetrable of how the fast-food leader is thriving in a downturn that has eaten into sales at its competitors. Even recession-weary consumers in the United States were enticed by the Golden Arches during the month. U.S. same-store sales - or sales at locations open at least a year - rose 4.5 by means of cent from the same month a year earlier, the company said Monday. The Oak Brook, Ill.-based chain before-mentioned ...
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Congress sends White House auto aid proposal for $15 billion bailout
Dec 09 2008
Julie Hirschfeld Davis, The Associated Press December 8, 2008 - 4:54 p.m. WASHINGTON - Congressional Democrats on Monday sent the White House a draft of a roughly US$15 billion auto bailout they aim to bring to a vote this week, but White House officials gave a cool initial response. The measure would rush bridge loans to Detroit's struggling Big Three but would also demand that the auto industry restructure itself in order to survive and would oblige an supervisor chosen by President George W. Bush in charge of monitoring that effort, according to a make a draft of obtained by The Associated Press. The White House had just ...
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As economic gloom reigns, T-bill auction yields new low despite upturn in stocks
Dec 09 2008
Madlen Read December 8, 2008 - 4:52 p.m. NEW YORK (AP) - The panic in the credit markets has dissipated but it's been replaced by a malaise that bodes poorly for investors hoping for a rebound in lending. Even as the Dow Jones industrial average rose nearly 300 points on growing confidence on Wall Street, a Treasury bill public sale yielded a new low of less than 0.01 percent, noted Miller & Tabak analyst Tony Crescenzi. That's a sign that investor demand for T-bills, considered the safest short-term assets surrounding, is still on the rise despite a return of not remotely ...
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Industry, government officials debate broader response to foreclosure crisis
Dec 09 2008
Alan Zibel December 8, 2008 - 1:09 p.m. WASHINGTON (AP) - More than half of all homeowners who had their loans modified to make the payments besides affordable in the foremost half of the year are even now in default again, banking regulators said Monday. The commencing data raise questions about whether government money may be better spent on creating jobs, rather than averting foreclosures, said John Reich, director of the federal Office of Thrift Supervision office at a housing industry forum sponsored by means of his agency. "I do have concerns about allocating federal resources" Reich said. However, ...
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