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After a billion apps were downloaded and the company posted a huge profit, Apple is letting go of 1,600 employees at its stores.
Retail sales rose $20 million in the fiscal second quarter compared to the same quarter 2008, but the growth in retail net sales …

The finance chiefs from the G7 said yesterday that the worst of the recession of the global economy may be over. They also pledged to make sure that the big financial firms stick around.
Group of Seven finance ministers and central bankers said after a meeting …

Harley-Davidson is also facing economic hardships. The company is having to take measures to insure its viability. Harley annouced that it will be cutting 1,500 jobs over the next two years and consolidate factories.
“As you know, 2008 was a challenging year,” said James Ziemer, who …

Facing a deteriorating global economy Capmark Financial Group, commercial real estate lender and investor, posted a $1.1 billion fourth quarter loss (as opposed to the fourth quarter loss of $11.2 million in 2007). If due dates for loans are not extended, the company may have …

The sinkhole known as General Motors has decided that it needs to borrow another $2 billion from the U.S. Treasury to remain liquid while it tries to “restructure.”
The latest injection of funding means to date GM has received $15.4 billion in funding.
In a statement, the …