12 Bankrupts to Face Travel Charges

Gradual rise in number going abroad without seeking permission first

Citi Gets US$20b Government Aid

The US government unveiled a plan on Sunday to rescue troubled Citigroup, including taking a US$20 billion (S$30.6 billion) stake in the firm whose stock has been hammered on worries about its financial health.

Texas Pastor’s Advice for Better Marriage: More Sex, More Often

“Today we’re beginning this sexperiment, seven days of sex,” he said, with his characteristic mix of humour, showmanship and Scripture. “How to move from whining about the economy to whoopee!”

U.S. Plan to Aid Citigroup Said to Be Near Approval

Federal regulators were nearing approval of a radical plan to stabilize Citigroup on Sunday in which the government would soak up tens of billions of dollars in losses at the struggling bank, according to people briefed on the discussions.

Chinese GOME Tycoon Detained

China’s second-richest person, who made his fortune building up the nation’s largest home appliance chain, has been detained on suspicion of market manipulation, state media reported on Monday.

Remisier Fooled by New Client’s Posh Appearance

Broker to pay $350,000 in stock market loss after client, who drove Jaguar and lived in condo, vanishes

The Party May Be Over in Singapore

But now with job losses spreading to Asia and the city state in recession, the party could very soon be over.

Lukewarm Response to Discounted Luxury Cars

More price cuts on luxury cars may be on the way after an unprecedented 48-hour bargain sale on brands such as Ferrari and Rolls-Royce attracted only lukewarm reaction from high-income earners.

China New Guidelines for Stimulus Spending

The central government has released guidelines on preventing waste and corruption as it rolls out its economic stimulus plan, as public concern over the government’s handling of taxpayers’ money increases.

The Swan That Made a Splash in Mainland Investment

First foreign-funded top hotel faced big hurdles

Economic Giant Shandong Reports Job Losses

Shandong province, an economic powerhouse, yesterday reported job losses for the first time in years as the nation increasingly feels the pinch of the global economic meltdown.

Worst of financial crisis yet to come, says IMF chief economist

The IMF’s chief economist has warned that the global financial crisis is set to worsen and that the situation will not improve until 2010, a report said Saturday.

Plunging Stocks Leave Analysts Bewildered

Analysts have cut profit estimates for 48 per cent of the stocks they cover worldwide, the most in at least 15 years, and more downgrades are likely as the economy slows.

Market Mood

Since central banks need to cut rates continually to boost their economies and the deflationary risk is becoming bigger, I reckon the stock market may not escape from the bear market any time soon, and bonds will definitely be a more attractive investment.

Patchy Prospects for Sewing Machine Giant

A local government and private lenders are trying to stitch up China’s Feiyue Group. But creditors want their money

Fast-Track Rescues for Shaoxing’s Failures

Textile companies that ran short of cash, borrowed too much and expanded too fast are still getting bailouts in Shaoxing.

Shanghai Seeks New Platform for Growth

Shanghai’s government launched eight measures to implement the central government’s economic stimulus package.

Across France, Cafe Owners Are Suffering

In Paris, Mr. Picolet, of Aux Amis du Beaujolais, said simply: “The bar-cafes? They’re finished. Twenty years ago, people would go in the morning before work for a coffee and a cigarette. And now, it’s over. Young people don’t drink during the day, and when they drink, they drink to get wasted. Smoking is forbidden and they eat en route, with coffee in a paper cup. They smoke and drink at home.”

How Workers Get Sacked Can Dent a Firm’s Image

Companies that sack staff without showing them proper respect risk damaging not only their employees’ health and self-esteem but also their own corporate image, a human resources specialist has warned.

A Little Large? You Can Still Look Good

Former stylist Chen Quanling runs a plus-size clothes shop in Beijing. She tells of her dream of helping large women regain confidence in a society that thinks high fashion clothes should only be seen on skinny models.