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The euro area’s manufacturing rump has been whipped, tooFINANCE is in retreat. The service-led economies of America and Britain, with their underemployed estate agents, mortgage brokers and bankers, are shrinking. Yet business is no better even in countries with more manufacturing muscle than financial flab. This is an equal-opportunities crisis; the euro area’s three biggest economies are in it just as deep.In Germany industrial output fell at annualised rate of 15.1% in the three months to November compared with the previous three months; in France it fell by 14.5% and in Italy by 19.5%. Manufacturing has once again proved to be a poor refuge in uncertain times. ...

Are you a sole proprietor who files the shorter Schedule C-EZ rather than the traditional (and longer) Schedule C? If so, please read on to find out why you may be making a big mistake. First, a quick review of the qualifications for using Schedule C-EZ.

And the rain descended, and the floods came, and the winds blew, and beat upon that house; and it fell: and great was the fall of it“TOO big to fail, too shit to buy” is the way some Citigroup insiders describe their employer. Not for much longer. On January 13th Citigroup announced that it had reached a deal to spin out Smith Barney, its broking arm, into a joint venture with Morgan Stanley’s broker. The agreement presages even more dramatic changes. The bank has brought forward its fourth-quarter results to January 16th and expectations are high that Vikram Pandit, Citi’s chief executive, will unveil plans to slim the bank further and faster. The Smith Barney deal is already a watershed. As recently as November, Mr Pandit heaped praise on the broker and said he did not want to sell it. No wonder. Citi’s wealth-management business, of which Smith Barney is a big part, was the only one of its main divisions to post a profit in the third quarter. And it sat

Why insurers need not fear recessionON THE New Year’s Eve just passed, 1,147 vehicles were torched on the streets of France, almost a third more than the year before. Brits too, are more partial to burning cars in times of economic strife, according to Andrew Torrance, head of British operations at Allianz, an insurer. There was an alarming rise in fires during both of the past two slowdowns (see chart). Arson is just one of the behavioural changes that drive up claims against insurance companies when economic growth stalls. Other types of crime rise. People and companies become more litigious. Firms offering credit protection are exposed to bankruptcies. At the same time, demand falls. For property insurers, say, there are fewer new factories and houses to insure. And life insurers struggle to sell policies when people are penny-pinching. This combination of higher claims and lower new business written would appear to be toxic for underwriters. But as you might expect from the

The British government -- ignoring a firestorm of controversy -- Thursday approved construction of a third runway at London's Heathrow Airport, saying the move is essential for British business and would retain the airport's status as a major European hub.

Do you understand the difference between a tax deduction and a tax credit? This story should clarify the difference.

JPMorgan Chase reported a profit for the quarter Thursday, even though the company took a hit in its investment banking business and set aside a chunk of cash for looming loan losses.

On 1 February 2009, PIC Solutions International, a new division of PIC Solutions, will be created to accelerate the development of PIC Solutions' interests beyond Southern Africa.

Before I tell you the biggest obstacle to small business tax reduction, let me tell you a story. One foggy night the captain of a large ship saw what appeared to be another ship's lights approaching in the distance. The two were on a course that would mean a certain head-on collision.

When she's not busy taking care of her three kids, stay-at-home mom Denise Mollison spends her time stitching together cherubic rag dolls, which she then sells online at her shop, The Lucky Pebble, and at Esty, an online marketplace. Her plump creations have garnered extensive praise from fans of handmade goods, and Mollison's Etsy page is filled with rave reviews from happy customers. But a new law passed to ensure the safety of toys and children's clothes may unintentionally cripple small businesses like hers.