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Woolworths closes 200 stores for the last time
"They should have bailed it out, like the banks," said Nazrene Zafar, pausing from snapping up cheap CDs and pick'n'mix sweets to take a family photo of her children in front of Woolworths' dilapidate...
Big News Network

GMAC quiet on bailout hurdle after deadline passes (AP)
Even after a crucial deadline came and went, the financing arm of General Motors Corp. remained silent Saturday on whether it cleared a final hurdle to become a bank holding company and gain access to billions in federal bailout money.
yahoo.com

Everybody's Business: They Told Me That Madoff Never Lost Money
A little delegation from a major investment bank said a money manager of stupendous acumen never lost money.
The New York Times

GMAC mum on whether it gets bite of federal bailout
Even after a crucial deadline came and went, the financing arm of General Motors Corp. remained silent Saturday on whether it cleared a final hurdle to become a bank holding company and gain access to billions in federal bailout money.
HoustonChronicle.com

Car retailer Pendragon halts IT sale
STRUGGLING car retailer Pendragon has quietly shelved the sale of a software subsidiary it hoped would raise cash to buy it time in negotiations with its banks. Last month The Sunday Times reveal...
Telegraph

GM Rallies As GMAC Goes Under TARP
General Motors moves higher as its finance arm gains bank status and eligibility for TARP funds.
Forbes

Tirad Mahmoud ADIB`s CEO and Khamis Bu Haroon Chairman of NBD appoint new CEO for Egyptian operations
Abu Dhabi Islamic Bank has confirmed the appointment of Mrs. Nevine Loutfy as Managing Director and Chief Executive Officer (CEO) of National Bank of Development in Egypt.
AME Info

Gordon Nixon: `It was just so unrelenting`
What's a banker to do? On the heels of a disastrous year, Canada's big banks are being pressured to both step up lending and boost capital levels. As RBC's chief executive officer tells Tara Perkins, it was - one hopes - a once in a lifetime year, valuable lessons were learned and the sector is better prepared for the challenges ahead.
The Globe and Mail

Property Portal Highlights Christmas Property Bargains
London 25/12/08-The overseas property website Homesgofast.com joined other retailers in attracting thousands of potential buyers to Christmas online bargains. The upside to the global slowdown is that international real estate prices are at the lowest ever and for investors there seems to be no better time to buy. Visitors arriving at the site for terms relating to cheap property abroad or bank owned property have increased significantly from this time last year.
homesgofast.com

Philippines Leading Emerging Nations in Introducing Mobile Banking
As the mobile penetration is rising in the Philippines, the number of mobile banking users is also matching the pace with it and is expected to cross 11 Million by 2011...
mrswing.com

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