After 60 years Circuit City closes down, 34,000 jobless

Filed Under (Business News) by Fred Chan on 09-03-2009

What began 60 years ago as a humble television store in this sleepy Southern capital ended Sunday as Circuit City closed its doors for good – its 567 remaining U.S. stores to be left broom clean and vacant.
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World Bank says global economy will shrink in 2009

Filed Under (World Economy) by Fred Chan on 09-03-2009

The World Bank said Sunday that the global economy will shrink this year for the first time since World War II and that the global financial crisis will make it tougher for poor and developing nations to access needed financing.


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Japan posts first current account deficit in 13 years (Updated)

Filed Under (World Economy) by Fred Chan on 09-03-2009

TOKYO (AP) – Japan posted a record current account deficit in January, plunging into the red for the first time in 13 years due to plummeting demand for Japanese exports and a deepening global downturn, the Ministry of Finance said Monday.
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