http://www.ezap.me/Credit Crunch This is an RSS test part2 en-us Copyright 2009-2010 eZAP.me All Rights Reserved. 240 http://www.ezap.me/images/credit.jpg http://www.ezap.me/Credit Crunch http://www.ezap.me/Credit Crunch "The economy is now sitting up and showing signs of recovery" - Vince Cable reports 2 years after the official start of the credit crunch. More in the Daily Mail. http://www.ezap.me/Credit Crunch The UK recession is "nowhere near over" because "lending to businesses is still falling." Check out MoneyWeek for more info. http://www.ezap.me/Credit Crunch The City loves property man Nick Leslau who is raising £200,000,000 for a big bet on recovery in the commercial market with new venture Max Property Group. However, note that "The first five years of the firm's life will be about investing..." http://www.ezap.me/Credit Crunch BT is to cut another 15,000 jobs from its workforce as it reveals "that costs have spiralled out of control" at BT Global Services where customers are seeking cheaper solutions. http://www.ezap.me/Credit Crunch All over for the oligarchs? The NYT reports that "few businessmen anywhere have fallen as hard or as fast in recent months" because so many of Russia's richest were highy-leveraged as the credit crunch started. http://www.ezap.me/Credit Crunch Media designer Jonathan Jarvis explains the credit crunch graphically in 'The Crisis of Credit Visualized'. "The Short & Simple Story of the Credit Crisis" helps the bankers understand where it all went wrong. http://www.ezap.me/Credit Crunch Former Trade Minister Lord Digby Jones sees the UK economy "bottoming out" in 2010, but thinks that 2009 would be the "most difficult year since the Second World War." http://www.ezap.me/Credit Crunch Word from the south of France is that billionaire Mikhail Prokorov was the mystery buyer of La Leopolda, the world's most expensive house. Apparently he has also lost his deposit of $39,000,000 as the Russians retreat thanks to the fall in the rouble. http://www.ezap.me/Credit Crunch UK government borrowing is exploding - "As a matter of arithmetic, therefore, the government deficit must increase." Check out financial writer Chris Dillow at 'Stumbling and Mumbling'. http://www.ezap.me/Credit Crunch Chancellor Alistair Darling has admitted the recession is "far from through." http://www.ezap.me/Credit Crunch Dr Doom, aka Nouriel Roubini, is anticipating the worst for 2009 - "I expect a global recession and a very severe one." http://www.ezap.me/Credit Crunch Hard times at Happy Times as the London nursery operator closes suddenly - "It is with regret that we hereby notifiy you that Happy Times nurseries closed for the last time on 28th November 2008 at 6.30pm." http://www.ezap.me/Credit Crunch Sign of the times - US website Liquidation.com, which auctions excess and returned stock, is experiencing an 800% increase in business over this time last year. The floodgates opened in September. http://www.ezap.me/Credit Crunch Aston Martin now joins the list of car manufacturing plants in the UK which are cutting production. AM workers will be getting another two weeks off at Christmas. http://www.ezap.me/Credit Crunch Three "D" words - deleveraging, deflation and depression - are nullifying the normal remedies, such as slashing interest rates. http://www.ezap.me/Credit Crunch Three Ds - "Deleveraging, deflation and depression are feeding one another in a potentially vicious manner." http://www.ezap.me/Credit Crunch JPMorgan Chase economist Michael Feroli predicts that US interest rates will be 0% early in 2009. http://www.ezap.me/Credit Crunch Deflation - the dreaded D-word is cropping up in the media with increasing frequency. http://www.ezap.me/Credit Crunch Honda has announced a 2-month closure of its Swindon factory. Almost 5,000 workers will be on basic pay for February and March 2009.