Reuters:Microsoft cuts costs, says Windows 7 on track

By Bill Rigby

 

SEATTLE (Reuters) – Microsoft Corp’s quarterly profit fell 32 percent, but its shares rose as investors welcomed continuing efforts to cut costs and news that the release of its Windows 7 operating system is on track.

Read more>>

The world this year

from:Economist.com

The credit crunch turned into a full-blown global financial crisis in September when Lehman Brothers, one of Wall Street’s big investment banks, declared bankruptcy and American officials seized control of American International Group to prevent the giant insurer’s collapse. As panic spread, governments engineered the rescue of distressed banks or took them over directly. By the end of the month the remaining big Wall Street houses had either been absorbed by others or become bank holding companies.

Continue reading