In the News...

JAPANESE OUTPUT FALLS
Industrial output in Japan dropped 8.5% in November compared with the previous month, larger than initially estimated.
The drop represents the biggest fall since records of such output statistics began in 1953.
Compared with a year earlier, the country's industrial output fell 16.6%, Japan's Ministry of Economy, Trade and Industry said.

KPMG OFFER SHORTER WEEK TO STAFF
Staff at accounting and consulting giant KPMG have been told they can save their jobs by working a four-day week or taking a short break on 30% pay.
The firm is attempting to stave off redundancies among its 11,000 strong workforce.
A spokesman said it was impossible to rule out job cuts in the future but the offer was on a voluntary basis.

IRISH BANK TO BE NATIONALISED
The Irish government has said it is to nationalise the Anglo Irish Bank after its funding problems continued.
The state had planned on pumping 1.5bn euros (£1.4bn) into the bank, but has decided that recapitalisation is not the way to secure its future.
Anglo Irish has about 100bn euros on its books, but there was no need for customers to act, the state said.

HERTZ SLASH WORKFORCE
Car rental firm Hertz is to cut more than 4,000 jobs as it makes further cost savings amid slowing demand.
Hertz has already cut its workforce by 22% in the last two years. The new cuts mean the firm has trimmed its staff numbers by 32% since August 2006.
The firm, which has about 29,350 workers in 144 countries, said the cuts would occur across all regions.

Sources: BBC Business News