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  1. The project comprises 10,000 sq m of office space over 12 upper floor levels with an active ground floor retail space. The development acts as a landmark gateway to the Mosley Street corridor and Bruntwood’s evolving New York Street project. The design sets out to create a dynamic impact at cityscape level. Its architectural form consists of two-storey glass and metal elements which give the illusion of ‘sliding’ in and out of the main building envelope. These ‘sliding boxes’ build up the massing of the building and give a physical impression of ‘turning the corner’ thus creating a greater perceived link between the streets. The two-storey over-scaling of horizontal elements emphasises the simplicity of the building block aesthetic. It also provides a powerful focus when looking from Piccadilly Gardens down Mosley Street and creates a new anchor to the street. http://www.worldarchitecturenews.com/index.php?fuseaction=wanappln.projectview&upload_id=944
  2. Great green hospital build commences UK's 'greenest' hospital wing breaks ground at Great Ormond Street Construction has begun on the first phase of the new, £300m Mittal Children’s Medical Centre at Great Ormond Street Hospital for Children NHS Trust (GOSH), which is on target to become the UK’s ‘greenest’ medical building to date. The scheme, designed by UK-based architectural practice Llewelyn Davies Yeang (LDY), is estimated to offset in excess of 20,000 tonnes of CO² annually - the equivalent to the typical yearly carbon footprint of around 2,000 people living in the UK. These figures are based on the scheme’s NEAT assessment, the health sector equivalent of BREEAM accreditation, in which the scheme has achieved an overall ‘Excellent’ Rating. This is a major step forward to achieving GOSH’s targets of a 120 per cent carbon reduction and 60+ per cent renewable energy contribution by 2016, when Phase 2 of the project is due to complete. The new design for the Mittal Children’s Medical Centre will comprise of two linked buildings totalling more than 30,000 sq m, to be constructed over 2 phases, including the Morgan Stanley Clinical Building and the radical reconstruction and refurbishment of the old Cardiac wing. The glazed facade of the new building maximises the amount of daylight to the building’s interior whilst minimising the solar gain internally. This greater level of transparency contributes to creating a comfortable environment that welcomes patients, visitors and staff whilst also forming a healing environment that aids patient recovery. As well as natural ventilation and lighting, the green design utilises natural paints and linoleum, and low VOC (Volatile Organic Compounds) materials have been selected in the vast majority of the interior finishes. Dr. Ken Yeang, Design Director at LDY said: “We have designed the building in line with the client’s desire for a deep green sustainable development. The scheme’s estimated BREEAM figures are impressive in setting a new benchmark for sustainable design in the healthcare sector.” http://www.worldarchitecturenews.com/index.php?fuseaction=wanappln.projectview&upload_id=11345 http://www.ich.ucl.ac.uk/gosh_families/coming_to_gosh/go_create/current_exhib.html
  3. KPF wins planning approval for Gravesend riverside renewal project Kohn Pedersen Fox Associates (London) have won planning approval for a new riverfront development to the north-west of Gravesend Town Centre that combines affordable housing, public amenity space and the restoration of Thames riverside heritage. Clifton Wharf will occupy two brownfield sites separated by West Street. The unique location includes a disused iron railway pier extending out into the Thames. KPF’s proposed re-development advances both the Kent and Medway Structure Plan and the Gravesham Local Plan by redressing the legacy of decline to the environment and infrastructure of this area. It will revitalise Gravesend town centre by bringing life into the neighbourhood though the creation of jobs and much needed accommodation. The scheme comprises 145 residential apartments, a retail unit and provisional river-related uses. The design overcomes the challenge of a split location by means of five sliced ellipsoidal buildings. Cutaway roofs allow for terraces at the top levels; punctuations in the wooden façades provide balconies for lower flats. The buildings, pebble-like in form, sit on a landscaped podium that stretches out in line with the pier. Every building in the cluster uses cutting edge morphology and careful positioning to maximise variety, giving the appearance of differing volumes and heights and taking advantage of the site’s access to unique views and natural light. KPF’s scheme restores the old iron pier and introduces steps and ramps to allow members of the public to get close to the original engineering. The shape and orientation of the pier is echoed and extended inland by the podium which unifies the site and reinforces the connection with the river. The new public walkway, which extends across the road to the pier, provides pedestrian access to the terraces and viewpoints on the water. The relocation of the old river defence wall creates space for proper pavements on West Street and an improved flood protection barrier further to the north. http://www.worldarchitecturenews.com/index.php?fuseaction=wanappln.projectview&upload_id=11355
  4. Un mariage de 15milliards de dollars entre les deux plus grandes pétrolières canadiennes, Suncor et Petro-Canada, serait sur le point d'être annoncé, selon le Wall Street Journal. Pour en lire plus...
  5. A new headquarters facility for the Los Angeles Police Department is set to open this summer. Designed by AECOM (formerly DMJM) in joint venture with Roth + Sheppard Architects, the new 11-storey, 500,000 square foot building occupies an important civic block in downtown LA across the street from City Hall and near the Los Angeles Times and new Caltrans buildings. The project provides for a main police administration building and public plaza with below grade parking for 300 cars and an off-site vehicle maintenance garage and fueling station with parking for 800 vehicles. The design challenge was to meet the functional needs and rigorous security requirements of one of the busiest police stations in the nation while also providing greater transparency and openness to the community. In a nod to the civic nature of the site, AECOM pulled the public functions out of the building, as, for example, a 200–seat café and 450-seat auditorium, and located them in the plaza for greater public access. The park and low-rise auditorium to the North (facing City Hall) offer a street scaled entry to the building and green space for passersby, visitors and building occupants. Built of precast, glass and stone, the building is linked to the existing civic center buildings with its vertical grain, massing and lightness of color. The new headquarters is designed to achieve LEED Silver certification and utilizes energy efficient mechanical systems, day-lighting, drought-tolerant planting, a “cool roof” system, high-performance glass, water clarifiers and recycled or renewable building materials. http://www.worldarchitecturenews.com/index.php?fuseaction=wanappln.projectview&upload_id=11267
  6. March 15, 2009 KEY | SPRING 2009 By JIM LEWIS New York is the capital of glass, the city of windows. Other cities get their gravitas from marble or stone, but New York is made of silica, soda ash and lime, melted to make this vitreous stuff: transparent, translucent and opaque; reflective, tinted, frosted, coated, clear. The slightest shift in the angle of sun fall can hide or reveal entire worlds, and as evening comes the city gradually turns itself inside out — the streets go dark and the buildings open up, offering their rooms like stagelets upon which our little lives are played. 25 Cooper Square: The Cooper Square Hotel Completed: 2009 Architect: Carlos Zapata Developer: Sciame Photo date: Sunday, Jan. 18, 2009 As old as the material is, glass remains a mystery. No one quite knows what goes on, down where the molecules bind — whether it’s a slow-moving liquid, an especially mutable solid or something in between. Still, new compounds appear regularly, with new qualities that promise new possibilities. The substance has never been exhausted, and may yet prove inexhaustible, an endless inspiration to architects and designers as it grows stronger, lighter, clearer and more flexible. 731 Lexington Avenue and 1 Beacon Court: Global headquarters for Bloomberg L.P. and other offices, as well as retail and residences Completed: 2005 Architects: Cesar and Rafael Pelli (Pelli Clark Pelli Architects) Developer: Vornado Realty Trust Photo date: Thursday, Jan. 15, 2009 For this issue, In Sook Kim, an artist with a special interest in intimacy and display, photographed five buildings in Manhattan — chips in the kaleidoscope of the city and homes to some of its most emblematic activities: business, the arts, putting up tourists and, of course, staying in for the night. 405 West 55th Street: The Joan Weill Center for Dance, home of the Alvin Ailey American Dance Theater Completed: 2004 Architect: lu + Bibliowicz Architects L.L.P. Photo date: Friday, Jan. 16, 2009 For each photograph, Kim, who is based in Germany, lit interior rooms with colored gels and arranged the occupants of the buildings in everyday tableaux. She then parked herself across from the buildings with a large-format camera, the glass of her lens facing the glass of the facades, creating portraits of the city as a crystalline beehive, always bright and always busy. 48 Bond Street: Condominium residence Completed: 2008 Architect: Deborah Berke & Partners Architects Developer: Dacbon L.L.C. Photo date: Wednesday, Jan. 21, 2009 http://www.nytimes.com/2009/03/15/realestate/keymagazine/15KeyGLASS-t.html?ref=keymagazine&pagewanted=print
  7. Charlotte in same predicament as Wall Street By IEVA M. AUGSTUMS, AP Business Writer Ieva M. Augstums, CHARLOTTE, N.C. – The financial collapse has hit the city known as Wall Street South. For years, Bank of America Corp. and Wachovia Corp. helped turn Charlotte into a financial powerhouse. Now, the big banks have thrust it into the same predicament as the real Wall Street — the city is losing thousands of jobs and an unquantifiable amount of prestige. Residents who invested heavily in the banks have seen their wealth dissipate and lifestyles change radically. "It's kind of sad, disheartening because the banks have been the backbone of Charlotte for so long," said Carl Clayton, a 55-year-old retired school teacher. The loss of so many bank jobs is causing upheaval in other industries. Consumers who have been laid off or fear being out of work are curtailing their spending, forcing restaurants and retailers to close — among them Morton's, a high-end steakhouse, and a 15-month-old Home Depot Design Center. Even some of the Charlotte's lively night clubs have shuttered their doors. "There's a bit of a state of disbelief," said Bob Morgan, president of the Charlotte Chamber of Commerce. "We are seeing things happen that no one else has contemplated before." Charlotte remains the nation's second-biggest bank town by assets — second to New York, and in front of San Francisco. But, Morgan said, "we don't know what the city is going to look like once we emerge." "We do know that tremendous wealth has already been lost." A big reason why is the amount of banking shares owned by people who have worked for Wachovia, now owned by Wells Fargo & Co., and Bank of America. Both have used their stock to compensate employees. Bank of America's shares have been among the hardest hit among financial companies. The company has lost more than 56 percent of its value since it closed on its acquisition of investment bank Merrill Lynch & Co. at the beginning of the year. The stock is down nearly 85 percent from a year ago. Last year, before Wachovia was acquired by Wells Fargo, its shares had slid 85 percent. Clayton estimates he has lost about $60,000 because of stock holdings in the two banks, along with other North Carolina banks, including BB&T Corp. "I had a lot of bank stock, but now it's gone," Clayton said. "What wealth I had, is gone." Residents and employees never expected such a downfall. Wachovia, once headquartered in Winston-Salem, N.C., joined the Top 5 ranks of national banks after it was acquired by Charlotte-based First Union Corp. in 2001. The combined company took Wachovia's name. Banker Hugh McColl Jr. led NationsBank Corp. through some 70 acquisitions starting in the early 1980s. His biggest coup was San Francisco-based BankAmerica Corp., a financial institution bigger than NationsBank. He adopted the name and also moved the headquarters to Charlotte. Some say Charlotte's troubles began in 2006, when Wachovia acquired mortgage lender Golden West Financial Corp. for roughly $25 billion at the height of the housing boom. With that purchase, Wachovia inherited a $122 billion portfolio of deteriorating mortgages, leaving the company with huge losses. Charlotte residents were unnerved as they watched Wachovia falter and then be taken over by Wells Fargo in what amounted to a fire sale late last year. Down the street, at Bank of America, things were looking just as bleak. A series of bad bets in the investment banking unit over the past year sank companywide profits, and as Bank of America completed its acquisition of struggling investment bank Merrill Lynch & Co., shareholders watched its stock price slide to historic lows. Both Wells Fargo and Bank of America have said they remain "committed" to Charlotte. Wells Fargo, based in San Francisco, has said Charlotte will be its eastern headquarters, though it remains unclear exactly what that means. The fear is that Wells Fargo, as it completes its integration of Wachovia, will keep shedding Charlotte positions. Wachovia has about 20,000 employees in the city. Bank of America, meanwhile, with about 15,000 employees in Charlotte, is eliminating some 35,000 jobs companywide. North Carolina already has nearly 400,000 unemployed workers. The jobless rate was 8.7 percent in December, the highest since 1983, according to the most recent available data. Charlotte, with a population of nearly 700,000, is the 20th-largest city in the country. About 45 percent of the residents of its home county, Mecklenburg, make more than $50,000 a year, according to data supplied by the Charlotte Chamber of Commerce. Outside the downtown offices buildings filled with bank employees, there's a sense of disbelief as people huddle together drinking coffee or smoking cigarettes and then shuffle off to their jobs. When a reporter approached employees for interviews, they declined to speak, or said they didn't want to give their names, worried about keeping their jobs. Charlotte relies on the banks for more than employment — its lifestyle, even its skyline has depended on Wachovia and Bank of America. Wachovia sponsors the city's annual PGA tournament, among the most popular on tour, while Bank of America's name is on the football stadium and the bank is a sponsor of one of NASCAR's top auto races. Both fill towering downtown office buildings — Wells Fargo, now by way of Wachovia, is building a 48-story headquarters and adjoining city arts campus. The bankers and traders who work for both helped create the demand — and now vacancies — for the high-rise condos near by. "I have received more calls over the past month from people wanting to list their homes, with a majority of them having financial problems," said Rich Ferretti, a broker at Jamison Reality in Matthews, a suburb of Charlotte. Stores in the city's affluent SouthPark area are less crowded on the weekends. And a recent happy hour at Capital Grille, located just across from Bank of America's headquarters, was sparsely attended. Charlotte also faces civic and philanthropic repercussions. Unlike Wachovia, Wells Fargo's executives have few North Carolina ties. Bank of America typically offers up the lead gift on projects. "We will honor our existing commitments and we are still in the process of determining any future commitments," Wells Fargo spokeswoman Mary Eshet said. Now, the city is waiting for major changes. "A lot of our friends work for the banks," said Leslie Hunter, a 38-year-old mother of two. "People are not stopping everything, but their awareness has increased." After being laid off from his bank consulting job 11 months ago, Jim Edwards' daily routine of networking, applying for jobs and going to the gym keeps his spirits up. "I've been out of work and living on my retirement income," said the 62-year-old, who added it's been a struggle finding employment because no one is hiring. While many unknowns remain, Mayor Pat McCrory is optimistic. "Charlotte does have very strong resilience and I anticipate that a lot of the talent that's moving out of the banks will stay," he said in an interview with The Associated Press. Some job relief may be moving in. GMAC Financial Services and Morgan Stanley are rumored to be looking to move at least parts of their companies to the Charlotte area. GMAC Financial Service's chief executive, Al G. de Molina, used to be Bank of America's chief financial officer. Morgan Stanley has already hired at least four former Wachovia executives to help the New York-based firm's retail banking expansion effort. McCrory wouldn't talk about the two firms, but said the large amount of talent in Charlotte will "attract others in the financial services industry to set up here." "We're going through a major adjustment, but when the economy rebounds, I think Charlotte will rebound the quickest," he said.
  8. Le controversé documentariste veut lever le voile sur ce qui s'est vraiment passé à Wall Street, dans son prochain documentaire. Pour en lire plus...
  9. Montreal snowplow driver suspended for burying car Vehicle's owner had been in argument over parking space Last Updated: Monday, February 2, 2009 | 11:29 AM ET CBC News A Montreal couple found their car covered with snow after an argument with a plow driver over the weekend near McGill University.A Montreal couple found their car covered with snow after an argument with a plow driver over the weekend near McGill University. (Kristy Rich/CBC) A Montreal snowplow driver has been suspended for dumping a whopping pile of snow onto a car after a dispute over a parking space. Now the couple who found their car looking more like an igloo than a sedan want an apology from the driver. "I think [he] should be sorry for what he did. He caused a lot of trouble for a lot of people," Roy Dudley, the owner of the car, told CBC News. On Friday night, Dudley parked his Volkswagen Jetta on Lorne Crescent near his home east of McGill University. A private snow-removal crew contracted by the city was clearing snow off one side of the street, so Dudley chose a spot on the other side. 'It was amazing how much snow there was on it. Obviously, it was deliberately done.' —Car owner Roy Dudley Dudley said one of the drivers ordered him to move his car because it could get in the way of their efforts to clear the narrow roadway. However, Dudley refused, saying there were no signs prohibiting him from parking there. The plow driver's boss arrived on the scene and suggested a truce: He offered to clear out a space for Dudley's car on a street nearby. Satisfied, Dudley moved his car to the new space and returned home. But he awoke Saturday to a frosty surprise. The entire street was clear except for two mountains of hard-packed, dirty snow covering his car. "It was amazing how much snow there was on it. Obviously, it was deliberately done," said Dudley. Roy Dudley found his car snowed-in on Lorne Crescent in Montreal.Roy Dudley found his car snowed-in on Lorne Crescent in Montreal. (Kristy Rich/CBC) His wife, Margaret Thompson, was dumbfounded. She said it would have been impossible for the couple to shovel out their car because the snow was so hard and compact. "Why would they do that?" she asked. "I realize their job is stressful and everyone is on their case about clearing the snow. But … where else are we supposed to park? Parking down here is really hard in the winter." City orders contractor to dislodge car The couple called police and the city, and by Saturday evening a city supervisor arrived on the scene. The supervisor ordered the contractor to clear the snow off the car. The crew returned Sunday and used a front-end loader and a tow truck to free the car from its snowy tomb. 'That is a rare problem, but it could happen. We have a very large operation.'—Yves Girard, Montreal's director of snow removal "I was happy that in front of my eyes, less than 24 hours later, the problem was being taken care of," said Dudley. Montreal's director of snow removal, Yves Girard, described the incident as an isolated one. "That is a rare problem, but it could happen. We have a very large operation," said Girard. "We have 3,000 employees, many pieces of equipment working on sidewalks and streets, and sometimes there are complaints because people don't want to move their cars." Entreprise Michaudville, a private snow-removal company, employed the driver. Gilles Gauthier, the driver's supervisor, told CBC News he'd never before seen a situation like this involving one of his employees. He said the company is taking responsibility for the incident and has suspended the driver for the rest of the season. Montreal has received near-record levels of snowfall this winter. Click on the link for pictures: http://www.cbc.ca/canada/montreal/story/2009/02/02/mtl-plowrage-0202.html
  10. Le président des États-Unis tance vertement les sociétés de Wall Street qui ont versé d'importantes primes à leurs employés, malgré la crise économique. Pour en lire plus...
  11. Le sauvetage des banques pourrait coûter 2000 milliards de plus Publié le 29 janvier 2009 à 10h27 | Mis à jour à 10h32 Les États-Unis pourraient consacrer jusqu'à 2000 milliards de dollars US supplémentaires pour renflouer leurs banques, plombées par des actifs invendables et la montée des impayés liés à la récession, affirme jeudi le quotidien économique Wall Street Journal. Le Congrès a débloqué en janvier la deuxième tranche des 700 milliards de dollars prévus par la loi de stabilisation économique d'urgence d'octobre pour stabiliser le système financier, mais selon le journal, les élus du Capitole pourraient se voir demander d'autoriser le déblocage de fonds supplémentaires.Citant des sources proches du dossier, le Wall Street Journal écrit que le gouvernement envisage de dépenser entre 1000 et 2000 milliards de dollars de plus pour maintenir les banques du pays en état de marche. Une partie des 350 milliards de dollars débloqués en janvier par le Congrès pour les banques a déjà été retenue pour d'autres projets, comme le soutien à l'industrie automobile américain ou l'aide aux propriétaires immobiliers menacés de saisie. Selon le quotidien, le gouvernement envisage de créer une structure de défaisance chargée de racheter les actifs invendables des banques et qui serait dotée de 100 à 200 milliards de dollars prélevés sur la deuxième tranche du plan de sauvetage. Le reste des fonds nécessaires à son fonctionnement (de 1000 à 2000 milliards) serait levé par de nouveaux emprunts du Trésor ou de la Réserve fédérale, ajoute l'article. Le gouvernement de Barack Obama cherche également à injecter des fonds frais de manière plus efficace que ne l'avait fait celui de George W. Bush, et envisage d'acheter des actions ordinaires dans les établissements bancaires bénéficiant de son aide, indique le journal.
  12. Twenty-five people at the heart of the meltdown ... * Julia Finch, with additional reporting by Andrew Clark and David Teather The Guardian, Monday 26 January 2009 The worst economic turmoil since the Great Depression is not a natural phenomenon but a man-made disaster in which we all played a part. In the second part of a week-long series looking behind the slump, Guardian City editor Julia Finch picks out the individuals who have led us into the current crisis Greenspan Testifies At Senate Hearing On Oil Dependence Former Federal Reserve chairman Alan Greenspan, who backed sub-prime lending. Alan Greenspan, chairman of US Federal Reserve 1987- 2006 Only a couple of years ago the long-serving chairman of the Fed, a committed free marketeer who had steered the US economy through crises ranging from the 1987 stockmarket collapse through to the aftermath of the 9/11 attacks, was lauded with star status, named the "oracle" and "the maestro". Now he is viewed as one of those most culpable for the crisis. He is blamed for allowing the housing bubble to develop as a result of his low interest rates and lack of regulation in mortgage lending. He backed sub-prime lending and urged homebuyers to swap fixed-rate mortgages for variable rate deals, which left borrowers unable to pay when interest rates rose. For many years, Greenspan also defended the booming derivatives business, which barely existed when he took over the Fed, but which mushroomed from $100tn in 2002 to more than $500tn five years later. Billionaires George Soros and Warren Buffett might have been extremely worried about these complex products - Soros avoided them because he didn't "really understand how they work" and Buffett famously described them as "financial weapons of mass destruction" - but Greenspan did all he could to protect the market from what he believed was unnecessary regulation. In 2003 he told the Senate banking committee: "Derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn't be taking it to those who are willing to and are capable of doing so". In recent months, however, he has admitted at least some of his long-held beliefs have turned out to be incorrect - not least that free markets would handle the risks involved, that too much regulation would damage Wall Street and that, ultimately, banks would always put the protection of their shareholders first. He has described the current financial crisis as "the type ... that comes along only once in a century" and last autumn said the fact that the banks had played fast and loose with shareholders' equity had left him "in a state of shocked disbelief". Mervyn King, governor of the Bank of England Mervyn King When Mervyn King settled his feet under the desk in his Threadneedle Street office, the UK economy was motoring along just nicely: GDP was growing at 3% and inflation was just 1.3%. Chairing his first meeting of the Bank's monetary policy committee (MPC), interest rates were cut to a post-war low of 3.5%. His ambition was that monetary policy decision-making should become "boring". How we would all like it to become boring now. When the crunch first took hold, the Aston Villa-supporting governor insisted it was not about to become an international crisis. In the first weeks of the crunch he refused to pump cash into the financial system and insisted that "moral hazard" meant that some banks should not be bailed out. The Treasury select committee has said King should have been "more pro-active". King's MPC should have realised there was a housing bubble developing and taken action to damp it down and, more recently, the committee should have seen the recession coming and cut interest rates far faster than it did. Politicians Bill Clinton, former US president Clinton shares at least some of the blame for the current financial chaos. He beefed up the 1977 Community Reinvestment Act to force mortgage lenders to relax their rules to allow more socially disadvantaged borrowers to qualify for home loans. In 1999 Clinton repealed the Glass-Steagall Act, which ensured a complete separation between commercial banks, which accept deposits, and investment banks, which invest and take risks. The move prompted the era of the superbank and primed the sub-prime pump. The year before the repeal sub-prime loans were just 5% of all mortgage lending. By the time the credit crunch blew up it was approaching 30%. Gordon Brown, prime minister The British prime minister seems to have been completely dazzled by the movers and shakers in the Square Mile, putting the City's interests ahead of other parts of the economy, such as manufacturers. He backed "light touch" regulation and a low-tax regime for the thousands of non-domiciled foreign bankers working in London and for the private equity business. George W Bush, former US president Clinton might have started the sub-prime ball rolling, but the Bush administration certainly did little to put the brakes on the vast amount of mortgage cash being lent to "Ninja" (No income, no job applicants) borrowers who could not afford them. Neither did he rein back Wall Street with regulation (although the government did pass the Sarbanes-Oxley Act in the wake of the Enron scandal). Senator Phil Gramm Former US senator from Texas, free market advocate with a PhD in economics who fought long and hard for financial deregulation. His work, encouraged by Clinton's administration, allowed the explosive growth of derivatives, including credit swaps. In 2001, he told a Senate debate: "Some people look at sub-prime lending and see evil. I look at sub-prime lending and I see the American dream in action." According to the New York Times, federal records show that from 1989 to 2002 he was the top recipient of campaign contributions from commercial banks and in the top five for donations from Wall Street. At an April 2000 Senate hearing after a visit to New York, he said: "When I am on Wall Street and I realise that that's the very nerve centre of American capitalism and I realise what capitalism has done for the working people of America, to me that's a holy place." He eventually left Capitol Hill to work for UBS as an investment banker. Wall Street/Bankers Abby Cohen, Goldman Sachs chief US strategist The "perpetual bull". Once rated one of the most powerful women in the US. But so wrong, so often. She failed to see previous share price crashes and was famous for her upwards forecasts. Replaced last March. Kathleen Corbet, former CEO, Standard & Poor's The credit-rating agencies were widely attacked for failing to warn of the risks posed by mortgage-backed securities. Kathleen Corbet ran the largest of the big three agencies, Standard & Poor's, and quit in August 2007, amid a hail of criticism. The agencies have been accused of acting as cheerleaders, assigning the top AAA rating to collateralised debt obligations, the often incomprehensible mortgage-backed securities that turned toxic. The industry argues it did its best with the information available. Corbet said her decision to leave the agency had been "long planned" and denied that she had been put under any pressure to quit. She kept a relatively low profile and had been hired to run S&P in 2004 from the investment firm Alliance Capital Management. Investigations by the Securities and Exchange Commission and the New York attorney general among others have focused on whether the agencies are compromised by earning fees from the banks that issue the debt they rate. The reputation of the industry was savaged by a blistering report by the SEC that contained dozens of internal emails that suggested they had betrayed investors' trust. "Let's hope we are all wealthy and retired by the time this house of cards falters," one unnamed S&P analyst wrote. In another, an S&P employee wrote: "It could be structured by cows and we would rate it." "Hank" Greenberg, AIG insurance group Now aged 83, Hank - AKA Maurice - was the boss of AIG. He built the business into the world's biggest insurer. AIG had a vast business in credit default swaps and therefore a huge exposure to a residential mortgage crisis. When AIG's own credit-rating was cut, it faced a liquidity crisis and needed an $85bn (£47bn then) bail out from the US government to avoid collapse and avert the crisis its collapse would have caused. It later needed many more billions from the US treasury and the Fed, but that did not stop senior AIG executives taking themselves off for a few lavish trips, including a $444,000 golf and spa retreat in California and an $86,000 hunting expedition to England. "Have you heard of anything more outrageous?" said Elijah Cummings, a Democratic congressman from Maryland. "They were getting their manicures, their facials, pedicures, massages while the American people were footing the bill." Andy Hornby, former HBOS boss So highly respected, so admired and so clever - top of his 800-strong class at Harvard - but it was his strategy, adopted from the Bank of Scotland when it merged with Halifax, that got HBOS in the trouble it is now. Who would have thought that the mighty Halifax could be brought to its knees and teeter on the verge of nationalisation? Sir Fred Goodwin, former RBS boss Once one of Gordon Brown's favourite businessmen, now the prime minister says he is "angry" with the man dubbed "Fred the Shred" for his strategy at Royal Bank of Scotland, which has left the bank staring at a £28bn loss and 70% owned by the government. The losses will reflect vast lending to businesses that cannot repay and write-downs on acquisitions masterminded by Goodwin stretching back years. Steve Crawshaw, former B&B boss Once upon a time Bradford & Bingley was a rather boring building society, which used two men in bowler hats to signify their sensible and trustworthy approach. In 2004 the affable Crawshaw took over. He closed down B&B businesses, cut staff numbers by half and turned the B&B into a specialist in buy-to-let loans and self-certified mortgages - also called "liar loans" because applicants did not have to prove a regular income. The business broke down when the wholesale money market collapsed and B&B's borrowers fell quickly into debt. Crawshaw denied a rights issue was on its way weeks before he asked shareholders for £300m. Eventually, B&B had to be nationalised. Crawshaw, however, had left the bridge a few weeks earlier as a result of heart problems. He has a £1.8m pension pot. Adam Applegarth, former Northern Rock boss Applegarth had such big ambitions. But the business model just collapsed when the credit crunch hit. Luckily for Applegarth, he walked away with a wheelbarrow of cash to ease the pain of his failure, and spent the summer playing cricket. Dick Fuld, Lehman Brothers chief executive The credit crunch had been rumbling on for more than a year but Lehman Brothers' collapse in September was to have a catastrophic impact on confidence. Richard Fuld, chief executive, later told Congress he was bewildered the US government had not saved the bank when it had helped secure Bear Stearns and the insurer AIG. He also blamed short-sellers. Bitter workers at Lehman pointed the finger at Fuld. A former bond trader known as "the Gorilla", Fuld had been with Lehman for decades and steered it through tough times. But just before the bank went bust he had failed to secure a deal to sell a large stake to the Korea Development Bank and most likely prevent its collapse. Fuld encouraged risk-taking and Lehman was still investing heavily in property at the top of the market. Facing a grilling on Capitol Hill, he was asked whether it was fair that he earned $500m over eight years. He demurred; the figure, he said, was closer to $300m. Ralph Cioffi and Matthew Tannin Cioffi (pictured) and Tannin were Bear Stearns bankers recently indicted for fraud over the collapse of two hedge funds last year, which was one of the triggers of the credit crunch. They are accused of lying to investors about the amount of money they were putting into sub-prime, and of quietly withdrawing their own funds when times got tough. Lewis Ranieri The "godfather" of mortgage finance, who pioneered mortgage-backed bonds in the 1980s and immortalised in Liar's Poker. Famous for saying that "mortgages are math", Ranieri created collateralised pools of mortgages. In 2004 Business Week ranked him alongside names such as Bill Gates and Steve Jobs as one of the greatest innovators of the past 75 years. Ranieri did warn in 2006 of the risks from the breakneck growth of mortgage securitisation. Nevertheless, his Texas-based Franklin Bank Corp went bust in November due to the credit crunch. Joseph Cassano, AIG Financial Products Cassano ran the AIG team that sold credit default swaps in London, and in effect bankrupted the world's biggest insurance company, forcing the US government to stump up billions in aid. Cassano, who lives in a townhouse near Harrods in Knightsbridge, earned 30 cents for every dollar of profit his financial products generated - or about £280m. He was fired after the division lost $11bn, but stayed on as a $1m-a-month consultant. "It seems he single-handedly brought AIG to its knees," said John Sarbanes, a Democratic congressman. Chuck Prince, former Citi boss A lawyer by training, Prince had built Citi into the biggest bank in the world, with a sprawling structure that covered investment banking, high-street banking and wealthy management for the richest clients. When profits went into reverse in 2007, he insisted it was just a hiccup, but he was forced out after multibillion-dollar losses on sub-prime business started to surface. He received about $140m to ease his pain. Angelo Mozilo, Countrywide Financial Known as "the orange one" for his luminous tan, Mozilo was the chairman and chief executive of the biggest American sub-prime mortgage lender, which was saved from bankruptcy by Bank of America. BoA recently paid billions to settle investigations by various attorney generals for Countrywide's mis-selling of risky loans to thousands who could not afford them. The company ran a "VIP programme" that provided loans on favourable terms to influential figures including Christopher Dodd, chairman of the Senate banking committee, the heads of the federal-backed mortgage lenders Fannie Mae and Freddie Mac, and former assistant secretary of state Richard Holbrooke. Stan O'Neal, former boss of Merrill Lynch O'Neal became one of the highest-profile casualties of the credit crunch when he lost the confidence of the bank's board in late 2007. When he was appointed to the top job four years earlier, O'Neal, the first African-American to run a Wall Street firm, had pledged to shed the bank's conservative image. Shortly before he quit, the bank admitted to nearly $8bn of exposure to bad debts, as bets in the property and credit markets turned sour. Merrill was forced into the arms of Bank of America less than a year later. Jimmy Cayne, former Bear Stearns boss The chairman of the Wall Street firm Bear Stearns famously continued to play in a bridge tournament in Detroit even as the firm fell into crisis. Confidence in the bank evaporated after the collapse of two of its hedge funds and massive write-downs from losses related to the home loans industry. It was bought for a knock down price by JP Morgan Chase in March. Cayne sold his stake in the firm after the JP Morgan bid emerged, making $60m. Such was the anger directed towards Cayne that the US media reported that he had been forced to hire a bodyguard. A one-time scrap-iron salesman, Cayne joined Bear Stearns in 1969 and became one of the firm's top brokers, taking over as chief executive in 1993. Others Christopher Dodd, chairman, Senate banking committee (Democrat) Consistently resisted efforts to tighten regulation on the mortgage finance firms Fannie Mae and Freddie Mac. He pushed to broaden their role to dodgier mortgages in an effort to help home ownership for the poor. Received $165,000 in donations from Fannie and Freddie from 1989 to 2008, more than anyone else in Congress. Geir Haarde, Icelandic prime minister He announced on Friday that he would step down and call an early election in May, after violent anti-government protests fuelled by his handling of the financial crisis. Last October Iceland's three biggest commercial banks collapsed under billions of dollars of debts. The country was forced to borrow $2.1bn from the International Monetary Fund and take loans from several European countries. Announcing his resignation, Haarde said he had throat cancer. The American public There's no escaping the fact: politicians might have teed up the financial system and failed to police it properly and Wall Street's greedy bankers might have got carried away with the riches they could generate, but if millions of Americans had just realised they were borrowing more than they could repay then we would not be in this mess. The British public got just as carried away. We are the credit junkies of Europe and many of our problems could easily have been avoided if we had been more sensible and just said no. John Tiner, FSA chief executive, 2003-07 No one can fault 51-year-old Tiner's timing: the financial services expert took over as the City's chief regulator in 2003, just as the bear market which followed the dotcom crash came to an end, and stepped down from the Financial Services Authority in July 2007 - just a few weeks before the credit crunch took hold. He presided over the FSA when the so-called "light touch" regulation was put in place. It was Tiner who agreed that banks could make up their own minds about how much capital they needed to hoard to cover their risks. And it was on his watch that Northern Rock got so carried away with the wholesale money markets and 130% mortgages. When the FSA finally got around to investigating its own part in the Rock's downfall, it was a catalogue of errors and omissions. In short, the FSA had been asleep at the wheel while Northern Rock racked up ever bigger risks. An accountant by training, with a penchant for Porsches and proud owner of the personalised number plate T1NER, the former FSA boss has since been recruited by the financial entrepreneur Clive Cowdery to run a newly floated business that aims to buy up financial businesses laid low by the credit crunch. Tiner will be chief executive but, unusually, will not be on the board, so his pay and bonuses will not be made public. ... and six more who saw it coming Andrew Lahde A hedge fund boss who quit the industry in October thanking "stupid" traders and "idiots" for making him rich. He made millions by betting against sub-prime. John Paulson, hedge fund boss He has been described as the "world's biggest winner" from the credit crunch, earning $3.7bn (£1.9bn) in 2007 by "shorting" the US mortgage market - betting that the housing bubble was about to burst. In an apparent response to criticism that he was profiting from misery, Paulson gave $15m to a charity aiding people fighting foreclosure. Professor Nouriel Roubini Described by the New York Times as Dr Doom, the economist from New York University was warning that financial crisis was on the way in 2006, when he told economists at the IMF that the US would face a once-in-a-lifetime housing bust, oil shock and a deep recession. He remains a pessimist. He predicted last week that losses in the US financial system could hit $3.6tn before the credit crunch ends - which, he said, means the entire US banking system is in effect bankrupt. After last year's bail-outs and nationalisations, he famously described George Bush, Henry Paulson and Ben Bernanke as "a troika of Bolsheviks who turned the USA into the United Socialist State Republic of America". Warren Buffett, billionaire investor Dubbed the Sage of Omaha, Buffett had long warned about the dangers of dodgy derivatives that no one understood and said often that Wall Street's finest were grossly overpaid. In his annual letter to shareholders in 2003, he compared complex derivative contracts to hell: "Easy to enter and almost impossible to exit." On an optimistic note, Buffett wrote in October that he had begun buying shares on the US stockmarket again, suggesting the worst of the credit crunch might be over. Now is a great time to "buy a slice of America's future at a marked-down price", he said. George Soros, speculator The billionaire financier, philanthropist and backer of the Democrats told an audience in Singapore in January 2006 that stockmarkets were at their peak, and that the US and global economies should brace themselves for a recession and a possible "hard landing". He also warned of "a gigantic real estate bubble" inflated by reckless lenders, encouraging homeowners to remortgage and offering interest-only deals. Earlier this year Soros described a 25-year "super bubble" that is bursting, blaming unfathomable financial instruments, deregulation and globalisation. He has since characterised the financial crisis as the worst since the Great Depression. Stephen Eismann, hedge fund manager An analyst and fund manager who tracked the sub-prime market from the early 1990s. "You have to understand," he says, "I did sub-prime first. I lived with the worst first. These guys lied to infinity. What I learned from that experience was that Wall Street didn't give a shit what it sold." Meredith Whitney, Oppenheimer Securities On 31 October 2007 the analyst forecast that Citigroup had to slash its dividend or face bankruptcy. A day later $370bn had been wiped off financial stocks on Wall Street. Within days the boss of Citigroup was out and the dividend had been slashed.
  13. Le géant pharmaceutique américain Pfizer s'apprête à licencier 2400 de ses 8000 personnels commerciaux, a rapporté vendredi le Wall Street Journal. Pour en lire plus...
  14. St. Catherine Street: the changing of the guard Remember that little boutique where you bought the leather jacket 15 years ago? It’s gone. If you have not visited St.Catherine Street in Montreal since the early 1990s, you would not recognize it. Of the stores that were located in the prime area between Bishop and University, not more than fi ve are still in existence. The locallyowned stores are gone, replaced at first by national retail chains, which in turn are giving way to international chains. Storefront retail throughout North America has been in decline for many years. St. Catherine Street is the exception. Rental rates have quadrupled. Vacancies are nonexistent. It is not just any street. Fifteen kilometres long, St. Catherine comprises 1,200 stores, making it the largest concentration of retail outlets in Canada. The street is witness to 3,500 pedestrians per hour, 250,000 offi ce workers at lunchtime, and 100,000 students per day, keeping the street alive at all hours. Furthermore, eight subway stations, 30 kilometres of underground walkways with 178 entrances, and 2,000 underground stores totalling 36 million square feet (sq. ft.) of floor space are used by 500,000 people on a daily basis. In street front retail, if you don’t have a store on St. Catherine Street, you have not made it. There are two strategies for retail chains entering Quebec: 1) open a fl agship store on St. Catherine Street; or 2) open four or five stores in major malls around Montreal, and a flagship store on St. Catherine Street. At the corner of Peel and St. Catherine, three of the four corner stores have changed in the past year. The newcomers are H&M (Hennes & Mauritz of Sweden) with 20,000 sq. ft; Guess with 13,000 sq. ft; and American Eagle, with 17,000 sq. ft and Apple Store. In the last five years, more than 20 flagship stores have opened here, mostly multinationals, such as: Lululemon, Oakley, American Eagle, Esprit, Garage, Guess, Khiels, Geox, GNC, Ecco Shoes, H&M, Mango, French Connection, Quicksilver, Marciano and Adidas. The shortage of space forces stores to take minimal frontage on the ground floor, and more space on the second and third fl oors. Ground fl oor space that leased in the early 1990s for $50 net per sq. ft. (psf ), with the landlord offering $25 per sq. ft. for leasehold improvements, now leases for $200 net psf and up, plus $30 psf for operating costs and taxes. And some of the stores spend $5 million renovating the space. But as they say in Rolls Royce dealerships, if you have to ask the price, you can’t afford it. Some of these stores are not making money, but they are here for image and marketing purposes. All the other banners are here, so they have to be here too. Whereas the mixture of stores constantly evolves, most of the landlords have been here for 30 or 40 years. They have seen the market go up and down. In this market, they will turn down all but the best. For one vacancy last year, there were four multinational chains trying to outbid each other for the space. http://www.avisonyoung.com/library/pdf/National/Fall-Winter_2008_AY_National_Newsletter.pdf
  15. Downturn Ends Building Boom in New York Charles Blaichman, at an unfinished tower at West 14th Street, is struggling to finance three proposed hotels by the High Line. NYtimes By CHRISTINE HAUGHNEY Published: January 07, 2009 Nearly $5 billion in development projects in New York City have been delayed or canceled because of the economic crisis, an extraordinary body blow to an industry that last year provided 130,000 unionized jobs, according to numbers tracked by a local trade group. The setbacks for development — perhaps the single greatest economic force in the city over the last two decades — are likely to mean, in the words of one researcher, that the landscape of New York will be virtually unchanged for two years. “There’s no way to finance a project,” said the researcher, Stephen R. Blank of the Urban Land Institute, a nonprofit group. Charles Blaichman is not about to argue with that assessment. Looking south from the eighth floor of a half-finished office tower on 14th Street on a recent day, Mr. Blaichman pointed to buildings he had developed in the meatpacking district. But when he turned north to the blocks along the High Line, once among the most sought-after areas for development, he surveyed a landscape of frustration: the planned sites of three luxury hotels, all stalled by recession. Several indicators show that developers nationwide have also been affected by the tighter lending markets. The growth rate for construction and land development loans shrunk drastically this year — to 0.08 percent through September, compared with 11.3 percent for all of 2007 and 25.7 percent in 2006, according to data tracked by the Federal Deposit Insurance Corporation. And developers who have loans are missing payments. The percentage of loans in default nationwide jumped to 7.3 percent through September 2008, compared with 1 percent in 2007, according to data tracked by Reis Inc., a New York-based real estate research company. New York’s development world is rife with such stories as developers who have been busy for years are killing projects or scrambling to avoid default because of the credit crunch. Mr. Blaichman, who has built two dozen projects in the past 20 years, is struggling to borrow money: $370 million for the three hotels, which include a venture with Jay-Z, the hip-hop mogul. A year ago, it would have seemed a reasonable amount for Mr. Blaichman. Not now. “Even the banks who want to give us money can’t,” he said. The long-term impact is potentially immense, experts said. Construction generated more than $30 billion in economic activity in New York last year, said Louis J. Coletti, the chief executive of the Building Trades Employers’ Association. The $5 billion in canceled or delayed projects tracked by Mr. Coletti’s association include all types of construction: luxury high-rise buildings, office renovations for major banks and new hospital wings. Mr. Coletti’s association, which represents 27 contractor groups, is talking to the trade unions about accepting wage cuts or freezes. So far there is no deal. Not surprisingly, unemployment in the construction industry is soaring: in October, it was up by more than 50 percent from the same period last year, labor statistics show. Experience does not seem to matter. Over the past 15 years, Josh Guberman, 48, developed 28 condo buildings in Brooklyn and Manhattan, many of them purchased by well-paid bankers. He is cutting back to one project in 2009. Donald Capoccia, 53, who has built roughly 4,500 condos and moderate-income housing units in all five boroughs, took the day after Thanksgiving off, for the first time in 20 years, because business was so slow. He is shifting his attention to projects like housing for the elderly on Staten Island, which the government seems willing to finance. Some of their better known and even wealthier counterparts are facing the same problems. In August, Deutsche Bank started foreclosure proceedings against William S. Macklowe over his planned project at the former Drake Hotel on Park Avenue. Kent M. Swig, Mr. Macklowe’s brother-in-law, recently shut down the sales office for a condo tower planned for 25 Broad Street after his lender, Lehman Brothers, declared bankruptcy in September. Several commercial and residential brokers said they were spending nearly half their days advising developers who are trying to find new uses for sites they fear will not be profitable. “That rug has been pulled out from under their feet,” said David Johnson, a real estate broker with Eastern Consolidated who was involved with selling the site for the proposed hotel to Mr. Blaichman, Jay-Z and their business partners for $66 million, which included the property and adjoining air rights. Mr. Johnson said that because many banks are not lending, the only option for many developers is to take on debt from less traditional lenders like foreign investors or private equity firms that charge interest rates as high as 20 percent. That doesn’t mean that all construction in New York will grind to a halt immediately. Mr. Guberman is moving forward with one condo tower at 87th Street and Broadway that awaits approval for a loan; he expects it will attract buyers even in a slowing economy. Mr. Capoccia is trying to finish selling units at a Downtown Brooklyn condominium project, and is slowly moving ahead on applying for permits for an East Village project. Mr. Blaichman, 54, is keeping busy with four buildings financed before the slowdown. He has found fashion and advertising firms to rent space in his tower at 450 West 14th Street and buyers for two downtown condo buildings. He recently rented a Lower East Side building to the School of Visual Arts as a dorm. Mr. Blaichman had success in Greenwich Village and the meatpacking district, where he developed the private club SoHo House, the restaurant Spice Market and the Theory store. He had similar hopes for the area along the High Line, where he bought properties last year when they were fetching record prices. An art collector, he considered the area destined for growth because of its many galleries and its proximity to the park being built on elevated railroad tracks that have given the area its name. The park, which extends 1.45 miles from Gansevoort Street to 34th Street, is expected to be completed in the spring. Other developers have shown that buyers will pay high prices to be in the area. Condo projects designed by well-known architects like Jean Nouvel and Annabelle Selldorf have been eagerly anticipated. In recent months, buyers have paid $2 million for a two-bedroom unit and $3 million for a three-bedroom at Ms. Selldorf’s project, according to Streeteasy.com, a real estate Web site. “It’s one of the greatest stretches of undeveloped areas,” Mr. Blaichman said. “I still think it’s going to take off.” In August 2007, Mr. Blaichman bought the site and air rights of a former Time Warner Cable warehouse. He thought the neighborhood needed its first full-service five-star hotel, in contrast to the many boutique hotels sprouting up downtown. So with his partners, Jay-Z and Abram and Scott Shnay, he envisioned a hotel with a pool, gym, spa and multiple restaurants under a brand called J Hotels. But since his mortgage brokers started shopping in late summer for roughly $200 million in financing, they have only one serious prospect for a lender. For now, he is seeking an extension on the mortgage — monthly payments are to begin in the coming months — and trying to rent the warehouse. (He currently has no income from the property.) It is perhaps small comfort that his fellow developers are having as many problems getting loans. Shaya Boymelgreen had banks “pull back” recently on financing for a 107-unit rental tower the developer is building at 500 West 23rd Street, according to Sara Mirski, managing director of development for Boymelgreen Developers. The half-finished project looked abandoned on two recent visits, but Ms. Mirski said that construction will continue. Banks have “invited” the developer to reapply for a loan next year and have offered interim bridge loans for up to $30 million. Mr. Blaichman cuts a more mellow figure than many other developers do. He avoids the real estate social scene, tries to turn his cellphone off after 6 p.m. and plays folk guitar in his spare time. For now, Mr. Blaichman seems stoic about his plight. At a diner, he polished off a Swiss-cheese omelet and calmly noted that he had no near-term way to pay off his debts. He exercises several times a week and tells his three children to curb their shopping even as he regularly presses his mortgage bankers for answers. “I sleep pretty well,” Mr. Blaichman said. “There’s nothing you can do in the middle of the night that will help your projects.” But even when the lending market improves — in months, or years — restarting large-scale projects will not be a quick process. A freeze in development, in fact, could continue well after the recession ends. Mr. Blank of the Urban Land Institute said he has taken to giving the following advice to real estate executives: “We told them to take up golf.” Correction: An article on Saturday about the end of the building boom in New York City referred incorrectly to the family relationship between the developers William S. Macklowe, whose planned project at the former Drake Hotel is in foreclosure, and Kent M. Swig, who shut down the sales office for a condominium tower on Broad Street after his lender, Lehman Brothers, declared bankruptcy. Mr. Swig is Mr. Macklowe’s brother-in-law, not his son-in-law.
  16. La Bourse de New York a fini en baisse lundi, après une forte progression la semaine dernière, le marché restant nerveux face à la situation économique: le Dow Jones a perdu 0,91%. Le TSX a pris 0,51 %. Pour en lire plus...
  17. Exsangue à la fin d'une année cauchemardesque, qui l'a vue effacer plus de cinq ans d'ascension, la Bourse de New York va aborder 2009 en espérant avoir touché le fond. Pour en lire plus...
  18. L'économie américaine traverse sa plus longue et sévère récession depuis la Grande Dépression, indique le sondage mensuel du Wall Street Journal. Pour en lire plus...
  19. Inspiré par le jeu que nous propose MTLskyline dans un autre fil, voici ma version! The Rules are the following: You give a point to a street and take a point away from another street. Each street starts with 10 points, last street standing wins. One Post per person per day. This is a game, so no politics or rude/inappropriate comments. Keep it clean. Voici 20 rues d'importance au centre-ville (ou proche): 10 - Rue Sainte-Catherine 10 - Rue Crescent 10 - Rue Sherbrooke 10 - Boul René-Lévesque 10 - Rue Notre-Dame 10 - Boul Saint-Laurent 10 - Boul de Maisonneuve 10 - Ave du Mont-Royal 10 - Rue Peel 10 - Rue Saint-Jacques 10 - Rue de la Gauchetière 10 - Ave McGill College 10 - Rue University 10 - Rue Saint-Denis 10 - Boul Pie-IX 10 - Rue Atwater 10 - Ave du Parc 10 - Rue Saint-Paul 10 - Ave Papineau 10 - Boul Saint-Joseph
  20. Nortel demandera-t-elle la protection de la loi pour éviter une faillite ? C'est la question que soulève un reportage du Wall Street Journal mercredi matin. Pour en lire plus...
  21. La Réserve fédérale américaine cherche une plus grande flexibilité financière pour faire face à la crise, affirme le Wall Street Journal mercredi. Pour en lire plus...
  22. Avec un autre trio de très mauvaises nouvelles économiques – les indices ISM manufacturier et des services, de même que les statistiques d’emploi – l’indice S&P 500 a terminé la semaine avec une séance positive (+3,7%), vendredi. Pour en lire plus...
  23. Le Dow Jones a gagné 2,05% et le Nasdaq 2,94%. De son côté, la Bourse de Toronto est descendue légèrement de 0,37% ou 30,85 points. Pour en lire plus...
  24. La déroute des marchés mondiaux commence à faire très mal aux géants canadiens de la finance, comme en témoignent les mauvaises nouvelles qui ont secoué Bay Street hier. Pour en lire plus...
  25. Après le plongeon de la veille, les marchés américains sont demeurés au vert toute la journée. Selon des chiffres provisoires, le Dow Jones a gagné 3,43% et le Nasdaq 3,74%. Pour en lire plus...
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