German car sales stall
Friday, 5 December 2008
WASHINGTON, Dec 4 (AFP): US job losses accelerated in November while German car sales skidded, according to the latest batch of data Wednesday that added to worries about the global economic outlook.
Brazilian mining giant Vale became the latest to announce big job cuts, shedding 1,300 workers worldwide because of the global downturn.
Yet stock markets showed resilience despite the barrage of grim news, as investors appeared to look past the turmoil and focused on news suggesting a possible rebound in troubled sectors.
In the United States, surveys showed employers shed jobs at a breakneck pace in November, a troublesome sign for an economy mired in recession.
Brazilian mining giant Vale became the latest to announce big job cuts, shedding 1,300 workers worldwide because of the global downturn.
Yet stock markets showed resilience despite the barrage of grim news, as investors appeared to look past the turmoil and focused on news suggesting a possible rebound in troubled sectors.
In the United States, surveys showed employers shed jobs at a breakneck pace in November, a troublesome sign for an economy mired in recession.