business - "credit"

WASHINGTON (Reuters) - U.S. employers cut payrolls for a third consecutive month in March and the jobless rate jumped to a 2-1/2 year high, adding more evidence that a housing downturn and credit crisis may have pushed the economy into recession.

Senate Majority Whip Richard Durbin (D-Ill.) and Sens. Olympia Snowe (R-Maine), Blanch Lincoln (D-Ark.) and Norm Coleman (R-Minn.) on Wednesday introduced legislation that would allow small-business owners to establish nationwide purchasing pools to negotiate lower health insurance premiums, CongressDaily reports.

UBS, the embattled Swiss bank that has been Europe's main casualty of the credit crunch, was facing a fresh assault after former chief executive Luqman Arnold launched an activist campaign to break it up and overhaul its board

MIKE Goddard, proprietor and Chief Executive of Belvoir Lettings, has been elected as the new Chairman of the British Franchise Association. Mike is a strong advocate of business format franchising and has supported the bfa through Regional Forums (ex Chairman of Midlands Region) and has previously served as the Chairman of the Accreditation Committee.

DLJ Merchant Banking Partners, a private equity investment affiliate of credit Suisse, has opened its new office in Troy, Michigan, US.

The new snapshot of the job market, released by the Labor Department today, underscored the damage that a trio of crises ?in the housing, credit and financial sectors ? has inflicted on companies, jobseekers and the economy as a whole.

ACIPCO credit Union votes on record rebate [Birmingham] Net income declined 16 percent for the top 17 Birmingham-area credit unions to $21 million in the fourth quarter of 2007, versus $26 million the fourth quarter of 2006, according to financial performance reports compiled by the National credit Union Administration. Deposits grew by 5 percent to $3 billion last year, compared to $2.8 billion the year before...

Under the Fed's new primary dealer credit facility, investment banks borrowed $10.341 billion from the discount window for the week ending April 2, the Federal Reserve reported Thursday. Also, $92.658 billion was borrowed by dealers under the Term Securities Lending Facility (TSLF). Read More Now

and credit Union National Association unanimously opposed regulations proposed to implement UIGEA in testimony to the House Committee on Financial services Subcommittee on Domestic and International Monetary Policy, Trade, and Technology. They all questioned the fundamental approach taken by Congress in enacting legislation to force financial institutions to police online gambling...

With the housing crunch and credit crisis worrying many Americans, 'the first MBA president' has seemed detached and ineffective on the most pressing economic issues.