Quest Means Business
April 30, 2010
Posted: 1011 GMT
Share this on:
April 28, 2010
Posted: 1120 GMT
Share this on:
Posted: 1119 GMT
Share this on:
April 27, 2010
Posted: 1512 GMT

Top representatives from Goldman Sachs maintained that the company did not engage in any questionable business deals leading up to the financial crisis.

Was Goldman Sachs at fault?

Was Goldman Sachs at fault?

A group of seven current and former executives at the New York City-based company are set to appear before the Permanent Subcommittee on Investigations later Tuesday to testify about the role of investment banks in the crisis.

Other top Goldman executives also blasted charges made by lawmakers in recent days that the company bet aggressively against the U.S. mortgage market as well as its clients, making as much as $3.7 billion in the process.

The charges stem from a slew of company e-mails and documents that have been released in recent days by Senate committee.

Goldman has refuted such claims, maintaining that it merely bet against housing in an effort to hedge its exposure to the housing market, which was quickly unraveling at the time. All told, the New York City-based investment bank said it lost $1.2 billion on residential mortgage-backed securities in 2007 and 2008.

We want to know what you think.

Should Goldman Sachs be held accountable for the way executives conducted business? Are they justified in the reasoning that it is all part of running a business and it's about the bottom line?

Posted by:
Filed under: Business •Quest Means Business


Share this on:
Posted: 1046 GMT
Share this on:
Posted: 526 GMT
Share this on:
April 26, 2010
Posted: 1429 GMT

The economic downturn has hurt many sectors of business around the world, but the restaurant industry may have been one of the hardest hit.

Alain Ducasse is seen at his Tokyo restaurant.

Alain Ducasse is seen at his Tokyo restaurant.

Restaurants around the world have been suffering because of the recession and in January of this year a record 100 restaurants went out of business in the UK alone, according to the “Independent” newspaper.

Many of the world’s top chefs, including Gordon Ramsay, have had to close restaurants with Ramsay closing two of his London locations. Ramsay is also reported to have a overdraft of almost $15 million.

World famous French chef, Alain Ducasse has also had to put plans for a global expansion on hold because of the downturn.

In September 2009, celebrity chef Tom Aitkens put his flagship restaurant in London’s west end into administration. He re-opened the restaurant soon after, enabling him to clear more than $5 million in debt.

But it’s not just the upscale restaurateurs that are feeling the pinch of the global financial crisis.

Many mid-range and inexpensive eateries are being affected, with many of them closing over the past 18 months.

We want to know what you think.

How has the economic downturn affected your eating habits? Are you eating out less? Are restaurants with $200 a head averages just too much?

Posted by: ,
Filed under: Business •Quest Means Business


Share this on:
April 21, 2010
Posted: 1110 GMT
Share this on:
April 20, 2010
Posted: 232 GMT
Share this on:
Posted: 228 GMT
Share this on:
April 19, 2010
Posted: 1700 GMT

The cloud of ash from an Iceland volcano is casting a shadow over the delicate economic recovery in Europe as the cancellation of flights in key markets entered its fifth day costing the airline industry hundreds of millions of dollars in lost revenue.

Should the airlines be bailed out?

Should the airlines be bailed out?

By the end of the day on Sunday, a total of 63,000 flights had been canceled in the four days since ash from a volcano under the Eyjafjallajokull glacier in Iceland closed the airspace of a large swath of Europe, according to air traffic authority Eurocontrol.

One industry group said the air travel and freight disruptions are costing airlines at least $200 million a day.

"This crisis is costing airlines at least $200 million a day in lost revenues and the European economy is suffering billions of dollars in lost business," said Giovanni Bisignani, director general and CEO of the International Air Transport Association.

He told CNN that if flight restrictions continue, some small and medium-sized airlines could be put in jeopardy.

Even airlines based far from the ash face a financial knock-on effect: Thai Airways, based in Bangkok, estimates the cloud is costing the airline $3 million a day and has stranded 6,000 of its passengers.

On Monday, the British Airlines Pilot Association called on the UK government to rescue airlines in a banking-style bailout because of the severity of the disruptions.

British Airways also said in a statement that "European airlines have asked the EU and national governments for financial compensation for the closure of airspace."

We want to know what you think.

Should the airlines be bailed out? Should airlines receive financial compensation because of the volcanic ash cloud?

Filed under: Business •Quest Means Business


Share this on:
April 16, 2010
Posted: 1205 GMT
Share this on:

Powered by WordPress.com VIP