Are you Ready for the 2nd great Depression?

JarJar blinks

COMPUTERS CRAAPPY COMPACTED

Computer sales have been weaker than expected in recent months and losses suffered by Hewlett-Packard have increased dramatically since its merger with Compaq in May, the world's largest personal computer maker has said.
"All of us [in the computer industry] are seeing a few new signs of weakness," said chief financial officer Bob Wayman.

Low demand for computers from companies was blamed for the weak sales during the May to July months.

While HP's $2.3bn loss for the three months were blamed on merger costs.

If HP and Compaq had not merged, their combined loss would have been capped at $116m.


HP shares fell 64 cents to $14.21 on Tuesday, ahead of HP's announcement.

http://news.bbc.co.uk/2/hi/business/2207027.stm
GERMANS GONE GLUM
Business confidence in Germany weakened for the third month in a row during August.
Germany's economic woes are in the spotlight ahead of the general election in September, with fears that recent floods might jeopardise the fragile economic recovery.

The data signals "a possible - at least temporary - interruption of the recovery", the Ifo research institute said.

Its closely-watched index of business confidence dipped to 88.8 points in August from 89.9 points in July. Back in May, the index stood at 91.6.

Glum mood

The index is based on a poll of about 7,000 German companies, who are asked for their view of the next six months

Output from German factories fell by in April, May and June compared to the first three months of this year.

On the Frankfurt stock market, the blue-chip Dax share index was nearly 2% lower at 0910 GMT.


HEY MACORRONI?
The struggling telecoms equipment maker Marconi has said that its shareholders are set to be left with virtually nothing following a financial restructuring at the firm.
The company said that current shareholders are likely to be end up holding just 0.5% of share capital.

Marconi owes about £4bn to its banks and bondholders, and it said on Wednesday that talks aimed at saving the company were still continuing.

The final deal is expected to give its creditors virtually full control of the company through a debt for equity swap.

In a statement, Marconi said that "it is currently envisaged that existing holders of Marconi ordinary shares would receive 0.5% of the share capital".




OIL GONE MAD

On Monday the US benchmark light sweet crude oil jumped 2.3% to $29.28 a barrel.

Prices continued rising when markets opened in Asia on Tuesday - up another 11 cents to $29.39.

And in electronic trading there were further gains of 32 cents, taking the price to $29.63 a barrel.

Many oil analysts and oil importing nations believe that oil prices of $30 a barrel will threaten economic growth.

Conflicting signals

Analysts say the risk of war has bolstered the price of oil by about $5 a barrel in recent weeks, but that is only one reason for higher prices.

The second factor behind the price rise was uncertainty about whether oil producing countries will increase output when they meet on 19 September.


COLD WAR ON CLIMATE?
Researchers at the science and technology forum at the World Summit on Sustainable Development in Johannesburg have called for a new "cold war" on climate change.

The World Bank has urged governments to act decisively at the Johannesburg summit to tackle global poverty and environmental deterioration.

But in an upbeat assessment, it says that in the next 50 years, the global economy could expand by four times, reaching $140,000bn compared with today's $35,000bn

BJJ

No I'm Not ready.

cheeky_monkey

I'm a realist myself but are you trying to depress people? Half the reason why this **** is happening is because of scaremongering like this.