Road to Depression

Goldman Sachs loses $428 million in third quarter!

NEW YORK - October 18, 2011 - Goldman Sachs Group, Inc. lost $428 million during the third quarter, only its second quarterly loss as a public company, hurt by sharp declines in the value of investment securities and customer trading assets.

Road to Depression

Inflation pressures intensify as producer prices jump!

NEW YORK (PNN) - October 18, 2011 - U.S. producer prices rose more than expected in September to record their largest increase in five months as gasoline prices surged, a government report showed on Tuesday.

The Department of Labor said its seasonally adjusted index for prices received by farms, factories and refineries increased 0.8% after being flat in August. Economists had expect

Road to Depression

Moody’s lowers Sony rating outlook!

NEW YORK - October 18, 2011 - Ratings agency Moody’s Tuesday lowered the outlook for Sony’s A3 long-term debt rating to “negative” as the global electronics giant faces weakening demand for LCD televisions.

Road to Depression

Moody's warns France of possible negative outlook!

NEW YORK - October 18, 2011 - Moody's warned on Monday it may slap a negative outlook on France's Aaa credit rating in the next three months if the costs for helping to bailout banks and other euro zone members stretch its budget too much.

The warning comes as European Union leaders are discussing measures to protect the region's financial system from an expected Greek debt default.

Road to Depression

Standard & Poors downgrades Spain!

LONDON, England - October 14, 2011 - Standard & Poor's Ratings Services has downgraded Spain a notch, citing increasingly unpredictable financing conditions that could squeeze a private sector already pressured by struggling economic growth.

Road to Depression

Fitch downgrades UBS and puts other banks on review!

LONDON, England - October 13, 2011 - Fitch Ratings downgraded UBS AG on Thursday and placed seven other U.S. and European banks on credit watch negative, citing challenges in the economy and financial markets, as well as the impact of new regulations.

Road to Depression

Sharp rise in foreclosures!

NEW YORK - October 13, 2011 - More U.S. homes are entering the foreclosure process, but they're taking ever longer to get sold or repossessed by lenders.

The number of U.S. homes that received a first-time default notice during the July to September quarter increased 14% compared to the second quarter of the year, RealtyTrac, Inc. said Thursday.