Financial Crisis Headlines
Panic on Street: Dow off almost 21% in 9 days
San Francisco Chronicle, USA - 5 hours ago
Fear turned into panic on Wall Street on Thursday as sellers indiscriminately dumped shares and potential buyers stood frozen like deer in the headlights.
Recession fears spark more losses
The Press Association - 5 hours ago
The crisis facing world stock markets deepened after global recession fears sparked more heavy losses in Asia and on Wall Street.
No halting market’s avalanche
Boston Globe, United States - 6 hours ago
By Steven Syre The stock market’s latest plunge, the worst of seven straight daily declines, had money managers shaking their heads yesterday.
Stocks are on track for their worst year since 1937
Houston Chronicle, United States - 6 hours ago
WASHINGTON – Fear and foreboding took hold Thursday on Wall Street, as the market again plunged and investors became convinced that the nation is on the …
Swagger turns to shudder a year after market high
The Associated Press - 7 hours ago
SAN FRANCISCO (AP) – Just a year ago, investors were swaggering as the stock market surged to an all-time high. Now, almost everyone on Wall Street and Main …
Snowballing sell-off drives Dow down 679 points
The Associated Press - 8 hours ago
NEW YORK (AP) – A stampede of selling that began in the waning minutes of trading on Wall Street spread to Asia on Friday, deepening a financial crisis that …
Meltdown 101: Investors get back to shorting
The Associated Press - 9 hours ago
NEW YORK (AP) – Will stocks benefit now that the government is letting investors bet on financial stocks going down? It’s a strategy known on Wall Street as …
Stocks fluctuate as economic worries dog investors
The Associated Press - 9 hours ago
NEW YORK (AP) – Stocks fluctuated Thursday as Wall Street weighed the prospects for the economy after IBM Corp. affirmed its profit forecast and investors …
Asian markets dive in early trade
The Associated Press - 9 hours ago
TOKYO (AP) – Stock markets across Asia posted sharp losses in early trading Friday on the heels of a steep sell-off on Wall Street. …
Stocks rise tentatively after rate cut
The Associated Press - 9 hours ago
NEW YORK (AP) – Wall Street managed a tentative advance in early trading Wednesday as investors questioned whether an emergency interest would be enough to …
US stock futures turn sharply higher on rate cut
The Associated Press - 9 hours ago
NEW YORK (AP) – Wall Street has turned around sharply with stock index futures shooting higher in response to an emergency half-point interest rate cut by …
Fear’s a slippery slope for stocks
USA Today - 10 hours ago
By Matt Krantz, USA TODAY The financial crisis is showing no signs of ending – and could even be accelerating – as unrelenting fears of a worldwide credit …
Glum mood pervades Wall Street after latest tumble
MLive.com, MI - 11 hours ago
AP UPDATES by AP AP PhotoSpecialist Justin Bohan holds his head as he works at his post on the floor of the New York Stock Exchange, Thursday. …
Readers’ Comments Wall St crumbles to new low
Melbourne Herald Sun, Australia - 12 hours ago
GLOBAL stocks have continued to dive overnight, with the Dow Jones falling more than seven per cent to its lowest point for more than five years. …
Fear grips global markets
Arab News, Saudi Arabia - 13 hours ago
NEW YORK: An equities rally stumbled yesterday as investors cast doubt on a coordinated global effort to stem a worsening worldwide credit crisis by cutting …
THE STRIKING PRICE DAILY
Barron’s - 19 hours ago
By STEVEN M. SEARS WHAT CAN BEST BE DESCRIBED as the Apocalypse Now trade is starting to gain some currency in the options market. This trading strategy of …
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Global stocks falter, safe-havens fall amid market calm Reuters - 20 hours ago By Herbert Lash NEW YORK (Reuters) – Investors’ willingness to take risk rose on Thursday but stocks pared gains a day after coordinated global interest … |
| DOW may hit 8750 or even lower Beursduivel, Belgium - Oct 9, 2008 Investors suffering from five-straight days of global economic turmoil are searching for relief at the bottom of the black hole of Wall Street stocks … |
| Stocks: Fishing for the Bottom BusinessWeek - Oct 8, 2008 by Peter Carbonara Since the stock market entered bear territory in July, market strategists have been looking for signs of “capitulation”-the cathartic … |
Toronto stocks mark biggest drop since October ’87
Energy stocks led the retreat as oil prices tumbled on concerns about fallout from the global credit crisis.
The S&P/TSX composite index .GSPTSE was down 1,106.95 points, or 10.25 percent, at 9696.40.
The tumble marked the first time the index has been below 10,000 level since July 2005. (Reporting by Jennifer Kwan; editing by Peter Galloway) – © Thomson Reuters 2008 All rights reserved
Toronto stocks drop 500 points, led by financials
Financial storm tips world toward recession: IMF
Financial storm tips world toward recession: IMF- Wed Oct 8, 2008 1:28pm EDT
By Lesley Wroughton and Emily Kaiser
WASHINGTON (Reuters) – The International Monetary Fund, in its bleakest forecast in years, said on Wednesday the world economy was set for a major downturn with the United States and Europe either in or on the brink of recession.
The IMF said the worst financial trauma since the Great Depression would exact a heavy economic toll as investors wrestle with a crisis of confidence and global credit is choked off.
“The world economy is now entering a major downturn in the face of the most dangerous shock in mature financial markets since the 1930s,” the IMF said in its World Economic Outlook.
The assessment was written before a coordinated half-percentage point interest-rate cut on Wednesday by the U.S. Federal Reserve, European Central Bank, Bank of England, Switzerland, Canada and Sweden.
China also joined the move with a more modest cut.
The IMF’s new chief economist, Olivier Blanchard, said the coordinated drive was a step in the right direction but more action may be needed as the world economy slows.
“Fifty basis points is not nothing,” Blanchard told a news conference. But he said monetary policy was only part of the answer and further measures were needed to clear up clogged credit markets. “More is needed, in particular in Europe,” he said.
In an interview with Reuters, Blanchard said the rash of crises in recent weeks had convinced world policy-makers that it was time to work together to find a way out of the credit crisis, which has raged for 14 months.
“Events focus the mind,” Blanchard said. “What’s absolutely essential to solve this financial crisis is the perception by the public and by the markets that there is a coherent plan.”
WORKING TO AVERT DEPRESSION
In its twice-yearly World Economic Outlook, the IMF slashed its 2009 forecast for world growth to 3 percent, which would be the slowest pace in seven years, from a July projection of 3.9 percent, and warned that a recovery would be unusually slow.
It said growth this year would come in at 3.9 percent, a touch below the 4.1 percent it projected in July.
While the world economy was unusually frail, Blanchard told reporters there was little chance of a global depression, provided leaders quickly adopt policies to address market distress.
“If the right policies are in place, then the probability of a ‘Great Depression’ is extremely small,” he said.
Blanchard said leaders in Europe were having “some difficulty” agreeing on how to deal with the crisis but the financial markets were forcing them to move quickly.
If they succeed, “the risk of a ‘Great Depression’ is nearly nil,” he added.
CRISIS SPREADS; EMERGING ECONOMIES HIT
The IMF blamed lax economic and regulatory policies for the current woes, saying they probably allowed the global economy to “exceed its speed limit.” At the same time, market flaws combined with policy shortcomings to allow stresses to build.
Now, the world is about to pay the price.
The IMF had believed developing economies could largely steer clear of any painful spillover from the credit mess, but no longer. In its latest report, the global economic watchdog warned emerging and developing economies are also slowing, in some cases to rates well below trend.
At the same time, the combination of soaring food and fuel prices has pushed inflation to levels unseen in a decade, the IMF said, exacting an especially heavy toll in the developing world where families’ spending on food is high.
In advanced economies, oil price increases have also been felt, but underlying price pressures appear contained.
The immediate challenge for policy-makers is to stabilize credit markets, while nursing economies through the global downturn and keeping inflation under control, the fund said.
U.S. SCREECHES TO HALT
It sees the U.S. economy screeching to halt and warned a recession was increasingly likely.
For all of next year, it projects U.S. growth of just 0.1 percent. The near-term course of the U.S. economy, the IMF said, will largely depend on the effectiveness of recent government initiatives to combat the spreading credit crisis.
In Europe, the crisis has stalled growth, and interest-rate cuts and decisive government action to restore confidence to prevent a lasting slowdown are needed, the report said.
The fund said growth in the euro zone was set to slow to 1.3 percent in 2008, easing to a scant 0.2 percent in 2009.
Asian powers China and India will also experience slower growth due to weaker exports, but should continue to be supported by solid private consumption, it said.
Growth in China is likely to come in at 9.7 percent this year and 9.3 percent in 2009 – compared to 11.9 percent in 2007, the IMF said. India will grow 7.9 percent this year and slow to 6.9 percent in 2009, it said.
(Editing by Tom Hals) © Thomson Reuters 2008 All rights reserved
http://ca.reuters.com/article/businessNews/idCATRE49763N20081008?pageNumber=2&virtualBrandChannel=0&sp=true
QuickBooks 2009
QuickBooks’ user base, which, according to Intuit, includes 4 million QuickBooks Pro and Premier users at 280,000 small businesses as well as the 57,000 companies using QuickBooks Enterprise.
Intuit Turns to Online Features to Keep QuickBooks on the Desktop
DATE: 2008-09-30 By Frank Ohlhorst – Article Rating:
/ 3
Data backup is another area that hosted services have held an advantage, after all – the hosted service is responsible for the protection and backup of data, leaving the customer to worry about other tasks. Here, Intuit has added features that make backup much easier and faster, perhaps with the biggest benefit coming from enhanced multi-user features. Employees no longer have to wait for others to finish with QuickBooks before they can start their own work.
New enhancements enable QuickBooks users to run reports while others work simultaneously in the same company data set. Users can now locally backup data while in multi-user mode, eliminating one of the bottlenecks that previous version of Quickbooks had. A new QuickBooks Messenger application brings IM like capabilities to bookkeeping staffs, allowing the instant communication of issues, problems or requests to other team members. Further enhancing administrative control is the ability for administrative users to log other users off and perform maintenance chores. In the past, an administrator would have to manually make sure all users had logged off before applying updates or patches. Now, an administrator can kick logged-on users out of the system to perform administrative tasks.
For customers working with global accounts a new multicurrency capability will make billing and other chores much easier. QuickBooks now offers an automatic exchange rate calculator that is updated daily and brings continuity to the ever change world of currency conversion.
The company has also focused on tech support and accounting support issues and has implemented a short cut for business owners to get help, the Quickbooks Online Community. That community is basically a forum hosted by the company and offers registered users the ability to communicate with each other, ask questions and get answers. Users can access the forum directly from the QuickBooks’ interface. With new features comes a new pricing matrix for both new users and upgrades.
- QuickBooks Accounting Pro Edition 2009 $199.95
- QuickBooks Accounting Pro 3-User Edition 2009 $549.95
- Premier Add-a-Seat Discount 17 All things considered, the Latest version of QuickBooks offers enough enhancements and improvement s to help users resist the temptation of online services. What’s more, solution providers and accountants will appreciate how the product can help solidify customer relationships, while saving customers money and generating revenue for service providers.
QuickBooks forged the path for many solution providers to get involved in the accounting applications arena, but hosted applications have started to put the squeeze on continuing successes. Can a refresh of QuickBooks help the channel to battle new comers? Read along and see what QuickBooks 2009 has to offer users and purveyors alike. Accounting is the bedrock of any business and it takes good accounting to build a good business. For years, SMBs have turned to Intuit’s QuickBooks to keep finances under control. And, despite Intuit’s direct-sales history, solution providers are often the ones sourcing, installing and supporting QuickBooks in SMB environment.
Intuit launches QuickBooks 2009
Intuit launches QuickBooks 2009
East Bay Business Times
Intuit Inc. on Monday launched its latest QuickBooks financial management version.
Mountain View-based Intuit (NASDAQ:INTU) said QuickBooks 2009 builds on its Small Business “Connected Services” strategy with new online services such as free Web site creation and hosting for one year and improved online banking.
Another new feature is Live Community, which connects QuickBooks users peers who can help answer questions and provide input.
“Intuit QuickBooks 2009 is one of our best releases in years, giving small businesses more reasons to be optimistic even in tough economic times,” said Rick Jensen, senior vice president and general manager of Intuit’s Small Business Group.
Silicon Valley / San Jose Business Journal
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Should You Upgrade to QuickBooks 2009? Why QuickBooks 2009?
Source: PRLog.Org – Global Press Release Distribution
Should You Upgrade to QuickBooks 2009? Why QuickBooks 2009?
By Michael Block QuickBooks CPA – Dated: Sep 17, 2008
This is the first of many QuickBooks 2009 articles. It includes many compelling reasons for promptly upgrading to QuickBooks 2009.
This will be the first of many http://QuickbooksBlog.BlockTax.com Why QuickBooks 2009 articles, inspired by a QuickBooks 2009 Sneak Preview. Why QuickBooks 2009 will make your work easier, faster
and more accurate. Your suggestions inspired new features and improvements in QuickBooks 2009. Why QuickBooks 2009 will help accountants work more closely with clients and help them both get much more
from QuickBooks 2009 (www.proadvisor.intuit.com/product/whatsnew/index.jsp). Mike Block, a nationally known QuickBooks CPA, provided information for this article.
NEW! Client Data Review Center: Why QuickBooks 2009 will save you hours of time with new clean-up tools. Check for a wide variety of errors and make corrections easily within your clients’ QuickBooks files.
(Why QuickBooks 2009 Client Data Review works between QuickBooks Premier Accountant 2009 and client company files in Pro or Premier 2009. QuickBooks Enterprise Solutions Accountant 9 works with
client data from Enterprise Solutions 9. Why QuickBooks 2009 also gives you access to the Client Data Review tools from directly within the client’s QuickBooks Pro or Premier 2009 or Enterprise Solutions 9
via an External Accountant log-in.) This alone makes Why QuickBooks 2009 a necessity.
From a single screen, Why QuickBooks 2009 lets you review and fix client errors in:
-General ledger account balances
-QuickBooks lists, such as chart of accounts and payroll items
-Open items in A/P and A/R
-Unlock “Client Data Review” from your clients’ 2009 QuickBooks files
A new Why QuickBooks 2009 log-in gives you the ability to track the changes you make versus the current client/administrator. Use this Why QuickBooks 2009 feature to review your clients files with Remote Access. (Internet access required. For QuickBooks Pro: One single-user subscription (6 months of Why QuickBooks 2009 only access) included at no charge, valid for customers who purchase and install QuickBooks Pro software before 12/31/2009. For QuickBooks Premier & QuickBooks Enterprise Solutions: One single-user subscription (12 months of Why QuickBooks 2009 only access) included at no charge, valid for customers who purchase and install QuickBooks Premier 2009 or Enterprise Solutions 9 software before 12/31/2009. QuickBooks 2009 Remote Access subscription begins at time of product registration.).
IMPROVED! Accountant’s Copy. Why QuickBooks 2009 uses feedback from many accounting professionals. Many improvements to Accountant’s Copy save you time:
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-Mapping accounts to fields in the 1099 form
-Ability to modify and merge classes
-Reconciliation now possible after the dividing date (Works with all QuickBooks accounting software except QuickBooks Simple Start, QuickBooks Mac, QuickBooks Online and works with QuickBooks 2008 and 2009. Payroll transactions cannot be adjusted. Not all fields can be accessed for clients using QuickBooks 2008; including, 1099 Account
-Mapping and modify and merge class lists. Previous versions of Accountant’s copy restricted reconciliation after the dividing date. Simple Start has similar file transfer capabilities. Download the QuickBooks Simple Start File Transfer tool at www,support.quickbooks.intuit.com/support/pages/contentsections/pages/simplestartfiletransferto.). The combined Accountant Copy changes clearly answers Why QuickBooks 2009.
IMPROVED! Bank Reconciliation with data sorting capabilities.Why QuickBooks 2009 will save more time as you (or your clients) reconcile clients bank accounts, thanks to new data sorting capabilities. Now the Bank Reconciliation window can sort by (as many users repeatedly requested):
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BlockTax QuickBooks has long been famous for QuickBooks, QuickBooks Add-ons, QuickBooks Terminal Server and related writing. – Category Accounting, Business, Computers
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