The recent trend of companies cutting costs i.e. downsizing or restructuring, continues with the news this week that Aer Arann is laying off 25% of its workforce and Yahoo are planning to cut 10% of its workforce worldwide. The effects of the global recession continue.
The dollar continues to rise in value against the Euro. The current exchange rate is now €1= $1.28
The Euro continues to decline as the ECB is expected to cut interest rates in the next 6 months.
For those studying Economics: Why would interest rates have an effect on the exchange rate?
I will be posting next week about Business on the Web – podcasts, videos and other business websites. Meanwhile, Yahoo have a section on their site called Yahoo Answers. This is where the public can ask questions and share information. Take a look at the Business & Finance page on Yahoo Answers.
As you know, Youtube is not available in school. So, the remainder of this post will be blank if you are on the school network. Here is a good video on Warren Buffett by a Youtube user.
Gordon Gekko – Greed is Good