The financial crisis of September–October 2008 is major and ongoing, beginning with failures of large financial institutions in the United States; into European bank failures; declines in various stock indexes and a substantial credit crisis leading to the bankruptcy of large and well established investment banks, as well as commercial banks in various nations around the world. High oil prices; high food prices; global inflation; increased unemployment; and the possibility of a global recession, all hold threats on the poor and developing countries.
The executive heads of UN specialized agencies, funds, programs, and the World Bank and the International Monetary Fund met on 25 October 08 to “undertake a wide ranging assessment of the ongoing global crisis in financial markets and the threat of recession in the global economy that holds serious risks for people, families and communities everywhere" the world body said in a statement issued at the end of a meeting of the UN System Chief Executives Board for Coordination (CEB).
Experts expect that the crisis will result in increased poverty and inequality. Liliana Rojas-Suarez, Centre for Global Development, suggests that impacts will be felt in two channels. First, lower growth in the industrial countries will mean less demand for developing countries' exports, both manufactured goods and most commodities. The second channel will be a reduction in capital inflows to developing countries. Because the U.S. crisis has created a global credit crunch, investors are becoming more risk averse and thus less willing to invest in developing countries. As uncertainty and risk have increased in international capital markets, investors will continue to shift the composition of their portfolios, away from riskier assets, such as emerging markets securities. he combination of less export demand and perceived higher-risk for investors means that developing country governments and businesses needing access to capital will face higher interest rates, both externally and locally. Higher interest rates and less willingness to lend make it harder for middle class and poor people to borrow. Moreover, developing countries will need to cut fiscal expenditures to deal with reduced sources of revenue and finance. History shows that when fiscal expenditures are cut, social programs and infrastructure projects that help the poor are especially vulnerable to being curtailed.
Read more about the financial crisis and its implications:
In-Depth on the Global Financial Crisis from the Financial Times
U.S. Financial Crisis Will Mean Slower Growth, Rising Inequality in Developing World
UN pledges effort to help poorest amid global financial crisis
Beijing summit calls for enhanced co-operation to overcome financial crisis
Thursday, January 29, 2009
Job opportunities in USA after World Financial Crisis
Question Description:
How has recent world financial crisis affected international students who are pursuing their higher education in United States? I am planning to apply for my postgraduate degree in USA. I intend to do a part-time job during my studies. Will jobs be available after this economic crisis? Please suggest me kindly. Thank You
Answers
The current condition for international students in terms of jobs is worst in USA. Many recent graduates are unable to find any job. Even the graduate from some top universities here are still in search of a job.
If you intend to work part-time while studying here, there is no guarantee of job. You must be aware of consequences you may face if you want to work here to support your studies and living costs. If it isn’t possible for you to study here without working then you better wait few more months before the situation changes.
I and friends are also facing problem in finding job here. I think you know how many people are fired in recent months. When people with jobs are losing them then how can a new person get one? So, looking at the scenario, think properly before making any major decision.
I hope you’ll take my words seriously. Good Luck
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Job opportunities and Earnings in New Zealand
How much can I earn in Australia as an international student and what are the opportunities?
How has recent world financial crisis affected international students who are pursuing their higher education in United States? I am planning to apply for my postgraduate degree in USA. I intend to do a part-time job during my studies. Will jobs be available after this economic crisis? Please suggest me kindly. Thank You
Answers
The current condition for international students in terms of jobs is worst in USA. Many recent graduates are unable to find any job. Even the graduate from some top universities here are still in search of a job.
If you intend to work part-time while studying here, there is no guarantee of job. You must be aware of consequences you may face if you want to work here to support your studies and living costs. If it isn’t possible for you to study here without working then you better wait few more months before the situation changes.
I and friends are also facing problem in finding job here. I think you know how many people are fired in recent months. When people with jobs are losing them then how can a new person get one? So, looking at the scenario, think properly before making any major decision.
I hope you’ll take my words seriously. Good Luck
Other Questions in Student Jobs
How much can I earn in New Zealand per month?
How much does an international student earn in New Zealand and in which basis is a salary paid?
What is the availability of jobs in Auckland for those who are in student visa?
Jobs for Pakistani students in Auckland, New Zealand
Information on available jobs for Electrical Engineers
How many hours can a student work in TR period in Australia?
How many years of work-permit do international students get after studies in Singapore?
What is the job possibility in Australia for International students?
How long should I study in Canada to get a Canadian Work-permit?
Can I earn in Czech along with my PhD study?
When are vacations and how much can I work during vacations in Australia?
How much can I earn in Finland as an international student?
Which country is best for working as a student?
Job opportunities and Earnings in New Zealand
How much can I earn in Australia as an international student and what are the opportunities?
economic growth and business
Economic growth is important if businesses are to grow and prosper. It relates to growth in the size and quality of the economy as a whole. Growth is measured as the change in the 'gross domestic product' GDP of a country over a year, after subtracting an amount due to the level of inflation to produce a figure for real growth. The comparative economic growth of a country when compared with rivals is an important indicator of rising opportunities for domestic business. The GDP of the UK will grow faster when employers are taking on more labour, and when factors of production are becoming more productive (e.g. through the adoption of superior production technologies).When businesses take on more labour, and GDP rises, then consumers will have more spending money in their pockets and this will lead to ongoing increases in demand.In contrast, periods of slow or falling economic growth are bad for the health of business.- Real GDP growth 2003/ 2004 change over previous yearThe following table shows OECD forecasts for real GDP growth in a number of European countries in 2003 and 2004. The faster the projected rate of growth the better the opportunity for business as a whole:Country_____________________________Real GDP Growth________________________________2003___________2004France_______________________ __ 1.2______________1.6Germany____________________ ____0.3______________1.7Italy_________________________ ___1.0______________2.0UK____________________________ _2.1______________2.6
Wednesday, January 28, 2009
The American Crysis in 2009
The American Crysis is affecting online activity, much more than offline; according to the lastest news, the Q3 2008 will have an downfall of 3-5% on ecomerce sales in the US, according with the previous one. The big companies will get reorriented strategies, and it seems that we can see some layoffs from most of the Top 500 web companies.
Yahoo looks in an optimistic view at 20% workforce reduction, and AOL one of the biggest market players for US is looking at almost 40% cutbacks. Google, who recently has become a teenager with 10 years of existence is taking a stand back and analyze position, while online financing / credit market is looking also at 30-40% cutbacks. Steve Jobs rumor of heart attack is taking an byte in Apple shares also. Top 3 US banks are getting about 700 billions $, so we’re looking at 40-50% stock raise for Citibank and JP Morgan shares.
Meanwhile, the Wall Street faced last week the biggest downfall in the stock history, with almost 10% down and a stop of short-term transactions until 2nd October. Realestate market is on the way down around the world, and Europe / Asia are looking with fear at the next months and feedbacks from the American financial crysis.
Planet oil reserves are planned for the next 20 years, while US government is rushing the production of the electrocars with 5-7 years, according a 25 billion loan for the biggest 3 car manufacturers, Ford and GM are on the way to top Toyota Primus with a car model early next year.
welcome to the new world! would be this way, all the way now or do we get back to the happiness of 90’s ?
Yahoo looks in an optimistic view at 20% workforce reduction, and AOL one of the biggest market players for US is looking at almost 40% cutbacks. Google, who recently has become a teenager with 10 years of existence is taking a stand back and analyze position, while online financing / credit market is looking also at 30-40% cutbacks. Steve Jobs rumor of heart attack is taking an byte in Apple shares also. Top 3 US banks are getting about 700 billions $, so we’re looking at 40-50% stock raise for Citibank and JP Morgan shares.
Meanwhile, the Wall Street faced last week the biggest downfall in the stock history, with almost 10% down and a stop of short-term transactions until 2nd October. Realestate market is on the way down around the world, and Europe / Asia are looking with fear at the next months and feedbacks from the American financial crysis.
Planet oil reserves are planned for the next 20 years, while US government is rushing the production of the electrocars with 5-7 years, according a 25 billion loan for the biggest 3 car manufacturers, Ford and GM are on the way to top Toyota Primus with a car model early next year.
welcome to the new world! would be this way, all the way now or do we get back to the happiness of 90’s ?
the last news about jobs after financial crisis
Asda to create 7,000 jobs, help long-term jobless
Reuters: Business News - LONDON (Reuters) - Asda, Britain's second-biggest grocer, plans to create about 7,000 jobs this year and committed to recruiting up to 3,000 long-term unemployed people for existing vacancies.
Canon profit tumbles, predicts further slide
Reuters: Business News -
TOKYO (Reuters) - Japan's Canon Inc , the world's largest digital camera maker, reported an 81 percent fall in quarterly profit and predicted a further slide in annual profit to a 14-year low this year, hi...
Toyota to recall more than 1.35 million cars worldwide
Reuters: Business News -
TOKYO (Reuters) - Toyota Motor Corp said on Wednesday it would recall more than 1.35 million Vitz and two other models globally to fix a defect in the seatbelt, a component in the exhaust system or both.
Fed to hold rates near zero, kickstart economy
Reuters: Business News -
WASHINGTON (Reuters) - The Federal Reserve will resume a key meeting on Wednesday to review options of how to restore U.S. growth, with its traditional interest rate policy tool already lowered almost to z...
Sun Micro beats consensus, shares rally
Reuters: Business News -
SAN FRANCISCO (Reuters) - High-end computer and software company Sun Microsystems posted better-than-expected results as a strong software and open storage business cushioned declining overall sales, and i...
Yahoo posts higher profit but outlook weak
Reuters: Business News -
NEW YORK/SAN FRANCISCO (Reuters) - Yahoo Inc's fourth-quarter results beat Wall Street's low expectations, thanks to a series of cost cuts in a weak advertising market, sending its shares up 5 percent in a...
Target eliminates positions amid weak sales
Reuters: Business News -
NEW YORK (Reuters) - Discount retailer Target Corp said on Tuesday that it will cut roughly 600 jobs at its headquarters, leave another 400 positions unfilled and close a distribution center that employs 5...
CEO confidence plunges, long recession seen
Reuters: Business News -
DAVOS, Switzerland (Reuters) - Confidence among heads of the world's top companies meeting in Davos has tumbled to a new low, with the prospect of a long recession torpedoing faith in corporate prospects.
Consumer mood at record lows, house prices sag
Reuters: Business News - 10 hours ago
WASHINGTON (Reuters) - Consumer confidence plumbed historic lows in January and home prices fell at a record pace in November, data showed on Tuesday, highlighting a rapidly deteriorating economy.
CEO confidence plunges around the globe
Reuters: Business News - DAVOS, Switzerland (Reuters) - Confidence among leaders of the world's top companies meeting in Davos has nosedived to a new low, with recession and a worsening credit crisis torpedoing faith in corporate ...
Citigroup names chief of new company, scraps jet
Reuters: Business News - NEW YORK (Reuters) - Citigroup Inc, battered by massive losses that forced a government bailout, named a chief to temporarily oversee assets it is looking to shed, and scrapped plans to buy a $50 million j...
Yahoo posts higher profit but outlook weak
Reuters: Business News -NEW YORK (Reuters) - Yahoo Inc posted a stronger-than-expected fourth-quarter profit on Tuesday, after several months of cost-cutting initiatives in the face of a weak advertising market, sending its share...
Sun Micro loss beats consensus, shares rally
Reuters: Business News -
SAN FRANCISCO (Reuters) - High-end computer and software company Sun Microsystems posted a smaller-than-expected quarterly loss as a strong software and open storage business cushioned crumbling overall sa...
Moody's says could cut GE's triple-A credit rating
Reuters: Business News -
BOSTON (Reuters) - Moody's Investors Service said on Tuesday it was reviewing General Electric Co's triple-A credit ratings, which could lead to a downgrade, and its shares fell as much as 5 percent in ext...
Target eliminates positions amid weak sales
Reuters: Business News - NEW YORK (Reuters) - Discount retailer Target Corp said on Tuesday that it will cut roughly 600 jobs at its headquarters, leave another 400 positions unfilled and close a distribution center that employs 5...
Ex-AIG exec Milton sentenced to four years in prison
Reuters: Business News -
NEW YORK (Reuters) - Christian Milton, a former executive at American International Group Inc was sentenced to four years in prison on Tuesday for his role in a reinsurance deal that prosecutors said misle...
Obama seeks Republican support for stimulus plans
Reuters: Business News - WASHINGTON (Reuters) - Democratic President Barack Obama tried on Tuesday to placate Republicans in Congress who insist his $825 billion plan for reviving the U.S. economy should include bigger tax cuts.
Regulators defend actions amid Madoff scandal
Reuters: Business News -
WASHINGTON (Reuters) - Top U.S. regulators defended their oversight of securities markets and said on Tuesday they had probed accused swindler Bernard Madoff's brokerage firm in the past, but found no evid...
Thain subpoenaed as probe into Merrill widens
Reuters: Business News - 18 hours ago
NEW YORK (Reuters) - New York's attorney general has subpoenaed former Merrill Lynch & Co Chief Executive John Thain to testify about bonuses paid to Merrill executives a few days before the brokerage's ta...
U.S. arrests, charges fund manager Nadel
Reuters: Business News -
NEW YORK (Reuters) - Florida hedge fund manager Arthur Nadel, who went missing two weeks ago, turned himself in on Tuesday and was ordered held on securities and wire fraud charges until a bail hearing on ...
Consumer mood at record lows, house prices sag
Reuters: Business News -
WASHINGTON (Reuters) - Consumer confidence plumbed historic lows in January and home prices fell at a record pace in November, data showed on Tuesday, highlighting a rapidly deteriorating economy.
SEC official: agency did not detect Madoff fraud
Reuters: Business News -
WASHINGTON (Reuters) - The Securities and Exchange Commission did not examine the advisory operations of accused financial swindler Bernard Madoff despite the firm registering in September of 2006, a top S...
Most on Wall Street got smaller year-end bonus: survey
Reuters: Business News -
NEW YORK (Reuters) - Most Wall Street professionals took home smaller year-end bonuses and nearly half were dissatisfied with their payout, according to a survey released on Tuesday.
Home prices plunge record 18.2 percent
Reuters: Business News -
NEW YORK (Reuters) - Home prices plunged a record 18.2 percent in November from a year earlier as the country's housing market remains in the throes of a deep recession, according to an index from Standard...
Verizon corporate sales fall
Reuters: Business News -
NEW YORK (Reuters) - Verizon Communications Inc reported weakness in corporate sales and fewer-than-expected wireless customers for the fourth quarter, and warned that pension costs would hurt earnings in ...
Chastised Citigroup grounds plan for new plane
Reuters: Business News -
NEW YORK (Reuters) - Citigroup Inc, which received a massive taxpayer-funded rescue last year, canceled plans to buy a $50 million executive jet after news of the new plane drew rebukes from politicians.
Hershey profit beats estimates, sticks by 2009 view
Reuters: Business News - CHICAGO (Reuters) - Hershey Co posted higher-than-expected quarterly profit as it lifted sales of its namesake candy and Reese's brands by spending more on marketing.
Corning slashes up to 4,900 jobs to cut costs
Reuters: Business News -
NEW YORK (Reuters) - Corning Inc posted weaker-than-expected quarterly results and gave a weak forecast due to a significant decline in sales of glass for televisions and computer monitors, and said it wou...
Delta Air Lines reports quarterly net loss
Reuters: Business News -
CHICAGO (Reuters) - Delta Air Lines , the world's largest airline, reported a quarterly loss on merger costs and fuel hedge losses.
DuPont posts fourth-quarter loss, trims 2009 outlook
Reuters: Business News - NEW YORK (Reuters) - DuPont Co posted a bigger-than-expected fourth-quarter loss on Tuesday, hurt by restructuring-related charges, a widening global recession and a slump in consumer spending, and the che...
Wall St. rises as AmEx, other results reassure
Reuters: Business News - NEW YORK (Reuters) - U.S. stocks climbed on Tuesday, with the S&P 500 and the Nasdaq up for a third straight day as a rare bit of encouraging news on the earnings front from companies, including American E...
Bankers braced for bitter pill of regulation
Reuters: Business News -
DAVOS, Switzerland (Reuters) - Two years ago anyone uttering the words "state" and "regulation" in the same sentence would have been sneered at in high-powered banking circles gathered by the ski slopes of...
Siemens sticks to 2009 goals as eyes cost cuts
Reuters: Business News -
MUNICH (Reuters) - German industrial conglomerate Siemens stuck to its profit outlook, focusing on sourcing more components from low-cost countries after fiscal 2009 started well despite the knock-on effec...
Reuters: Business News - LONDON (Reuters) - Asda, Britain's second-biggest grocer, plans to create about 7,000 jobs this year and committed to recruiting up to 3,000 long-term unemployed people for existing vacancies.
Canon profit tumbles, predicts further slide
Reuters: Business News -
TOKYO (Reuters) - Japan's Canon Inc , the world's largest digital camera maker, reported an 81 percent fall in quarterly profit and predicted a further slide in annual profit to a 14-year low this year, hi...
Toyota to recall more than 1.35 million cars worldwide
Reuters: Business News -
TOKYO (Reuters) - Toyota Motor Corp said on Wednesday it would recall more than 1.35 million Vitz and two other models globally to fix a defect in the seatbelt, a component in the exhaust system or both.
Fed to hold rates near zero, kickstart economy
Reuters: Business News -
WASHINGTON (Reuters) - The Federal Reserve will resume a key meeting on Wednesday to review options of how to restore U.S. growth, with its traditional interest rate policy tool already lowered almost to z...
Sun Micro beats consensus, shares rally
Reuters: Business News -
SAN FRANCISCO (Reuters) - High-end computer and software company Sun Microsystems posted better-than-expected results as a strong software and open storage business cushioned declining overall sales, and i...
Yahoo posts higher profit but outlook weak
Reuters: Business News -
NEW YORK/SAN FRANCISCO (Reuters) - Yahoo Inc's fourth-quarter results beat Wall Street's low expectations, thanks to a series of cost cuts in a weak advertising market, sending its shares up 5 percent in a...
Target eliminates positions amid weak sales
Reuters: Business News -
NEW YORK (Reuters) - Discount retailer Target Corp said on Tuesday that it will cut roughly 600 jobs at its headquarters, leave another 400 positions unfilled and close a distribution center that employs 5...
CEO confidence plunges, long recession seen
Reuters: Business News -
DAVOS, Switzerland (Reuters) - Confidence among heads of the world's top companies meeting in Davos has tumbled to a new low, with the prospect of a long recession torpedoing faith in corporate prospects.
Consumer mood at record lows, house prices sag
Reuters: Business News - 10 hours ago
WASHINGTON (Reuters) - Consumer confidence plumbed historic lows in January and home prices fell at a record pace in November, data showed on Tuesday, highlighting a rapidly deteriorating economy.
CEO confidence plunges around the globe
Reuters: Business News - DAVOS, Switzerland (Reuters) - Confidence among leaders of the world's top companies meeting in Davos has nosedived to a new low, with recession and a worsening credit crisis torpedoing faith in corporate ...
Citigroup names chief of new company, scraps jet
Reuters: Business News - NEW YORK (Reuters) - Citigroup Inc, battered by massive losses that forced a government bailout, named a chief to temporarily oversee assets it is looking to shed, and scrapped plans to buy a $50 million j...
Yahoo posts higher profit but outlook weak
Reuters: Business News -NEW YORK (Reuters) - Yahoo Inc posted a stronger-than-expected fourth-quarter profit on Tuesday, after several months of cost-cutting initiatives in the face of a weak advertising market, sending its share...
Sun Micro loss beats consensus, shares rally
Reuters: Business News -
SAN FRANCISCO (Reuters) - High-end computer and software company Sun Microsystems posted a smaller-than-expected quarterly loss as a strong software and open storage business cushioned crumbling overall sa...
Moody's says could cut GE's triple-A credit rating
Reuters: Business News -
BOSTON (Reuters) - Moody's Investors Service said on Tuesday it was reviewing General Electric Co's triple-A credit ratings, which could lead to a downgrade, and its shares fell as much as 5 percent in ext...
Target eliminates positions amid weak sales
Reuters: Business News - NEW YORK (Reuters) - Discount retailer Target Corp said on Tuesday that it will cut roughly 600 jobs at its headquarters, leave another 400 positions unfilled and close a distribution center that employs 5...
Ex-AIG exec Milton sentenced to four years in prison
Reuters: Business News -
NEW YORK (Reuters) - Christian Milton, a former executive at American International Group Inc was sentenced to four years in prison on Tuesday for his role in a reinsurance deal that prosecutors said misle...
Obama seeks Republican support for stimulus plans
Reuters: Business News - WASHINGTON (Reuters) - Democratic President Barack Obama tried on Tuesday to placate Republicans in Congress who insist his $825 billion plan for reviving the U.S. economy should include bigger tax cuts.
Regulators defend actions amid Madoff scandal
Reuters: Business News -
WASHINGTON (Reuters) - Top U.S. regulators defended their oversight of securities markets and said on Tuesday they had probed accused swindler Bernard Madoff's brokerage firm in the past, but found no evid...
Thain subpoenaed as probe into Merrill widens
Reuters: Business News - 18 hours ago
NEW YORK (Reuters) - New York's attorney general has subpoenaed former Merrill Lynch & Co Chief Executive John Thain to testify about bonuses paid to Merrill executives a few days before the brokerage's ta...
U.S. arrests, charges fund manager Nadel
Reuters: Business News -
NEW YORK (Reuters) - Florida hedge fund manager Arthur Nadel, who went missing two weeks ago, turned himself in on Tuesday and was ordered held on securities and wire fraud charges until a bail hearing on ...
Consumer mood at record lows, house prices sag
Reuters: Business News -
WASHINGTON (Reuters) - Consumer confidence plumbed historic lows in January and home prices fell at a record pace in November, data showed on Tuesday, highlighting a rapidly deteriorating economy.
SEC official: agency did not detect Madoff fraud
Reuters: Business News -
WASHINGTON (Reuters) - The Securities and Exchange Commission did not examine the advisory operations of accused financial swindler Bernard Madoff despite the firm registering in September of 2006, a top S...
Most on Wall Street got smaller year-end bonus: survey
Reuters: Business News -
NEW YORK (Reuters) - Most Wall Street professionals took home smaller year-end bonuses and nearly half were dissatisfied with their payout, according to a survey released on Tuesday.
Home prices plunge record 18.2 percent
Reuters: Business News -
NEW YORK (Reuters) - Home prices plunged a record 18.2 percent in November from a year earlier as the country's housing market remains in the throes of a deep recession, according to an index from Standard...
Verizon corporate sales fall
Reuters: Business News -
NEW YORK (Reuters) - Verizon Communications Inc reported weakness in corporate sales and fewer-than-expected wireless customers for the fourth quarter, and warned that pension costs would hurt earnings in ...
Chastised Citigroup grounds plan for new plane
Reuters: Business News -
NEW YORK (Reuters) - Citigroup Inc, which received a massive taxpayer-funded rescue last year, canceled plans to buy a $50 million executive jet after news of the new plane drew rebukes from politicians.
Hershey profit beats estimates, sticks by 2009 view
Reuters: Business News - CHICAGO (Reuters) - Hershey Co posted higher-than-expected quarterly profit as it lifted sales of its namesake candy and Reese's brands by spending more on marketing.
Corning slashes up to 4,900 jobs to cut costs
Reuters: Business News -
NEW YORK (Reuters) - Corning Inc posted weaker-than-expected quarterly results and gave a weak forecast due to a significant decline in sales of glass for televisions and computer monitors, and said it wou...
Delta Air Lines reports quarterly net loss
Reuters: Business News -
CHICAGO (Reuters) - Delta Air Lines , the world's largest airline, reported a quarterly loss on merger costs and fuel hedge losses.
DuPont posts fourth-quarter loss, trims 2009 outlook
Reuters: Business News - NEW YORK (Reuters) - DuPont Co posted a bigger-than-expected fourth-quarter loss on Tuesday, hurt by restructuring-related charges, a widening global recession and a slump in consumer spending, and the che...
Wall St. rises as AmEx, other results reassure
Reuters: Business News - NEW YORK (Reuters) - U.S. stocks climbed on Tuesday, with the S&P 500 and the Nasdaq up for a third straight day as a rare bit of encouraging news on the earnings front from companies, including American E...
Bankers braced for bitter pill of regulation
Reuters: Business News -
DAVOS, Switzerland (Reuters) - Two years ago anyone uttering the words "state" and "regulation" in the same sentence would have been sneered at in high-powered banking circles gathered by the ski slopes of...
Siemens sticks to 2009 goals as eyes cost cuts
Reuters: Business News -
MUNICH (Reuters) - German industrial conglomerate Siemens stuck to its profit outlook, focusing on sourcing more components from low-cost countries after fiscal 2009 started well despite the knock-on effec...
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