For most of the life of the business dealings of Madoff, he argued and claimed that the investment strategy of the firm consisted of buying blue-chip stocks and taking options contract on these stocks. But according to those who are investigating the firm and Madoff himself, they said that the investment strategy that was chosen [...]

Trouble is brewing Sony. The latest news is that the company is set to slash around 8,000 jobs and this number represents around 4 percent of the total workforce of the company. This move by Sony aims to cut cost by as much as $1.1 billion a year as a response to the economic downturn [...]

According to a leading international economic organization, the world’s developed economies are in recession and are likely to contract next year. The observation was forwarded by the Paris-based Organization for Economic Cooperation and Development.
The organization added that the gross domestic product is likely to decline by 0.3 percent in 2009 in its 30 member [...]

In its biggest move to protect the fourth-largest economy in the world against the global financial crisis, China unveiled the $586 billion stimulus package first week of November. Based on a statement that was posted on a government website, the Cabinet approved the plan to invest the money in infrastructure and social welfare by the [...]

Jerry Yang, the chief executive of Yahoo who resisted a takeover bid of Microsoft and who later asked for the merger talks to resume is stepping down. His intent to step down was indicated in a memorandum sent to the company’s staff Monday. He added that he would hold on to the post until [...]

Japan’s economy is in recession and it shrinks by 0.4 percent. The contraction of the economy happened for the third quarter ending September 30. With these new details, the world’s second largest economy enters its first recession since the 2001 contraction. The main reason for the contraction can be linked to the cut in the [...]

The economic landscape is fast-changing in the country. After the fall of Lehman Brothers and the problems of AIG, now is the time of the Washington Mutual Inc WM to fall. The fall of the thrift was considered as the biggest bank failure in US history. But there is nothing to worry now as JPMorgan [...]