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Day:1 February 2008
US employment down – a serious sign of slowdown
US employers cut 17,000 jobs from their payrolls in January, US Labor Department figures showed. Economists had been expecting a rise of 80,000. If this figure proves to be in line with actual events (after adjustments), it shows severe declines in economic activity in the US. There has been modest wage inflation over the past …
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Microsoft wants to buy Yahoo: desperation and disaster
Microsoft is bidding for Yahoo. It has offered to buy Yahoo for $44.6 billion in cash and shares. The offer, contained in a letter to Yahoo’s board, is 62% above Yahoo’s closing share price yesterday. Yahoo cut its revenue forecasts earlier this week and said it would have to spend an additional $300m this year …
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