Thursday, November 27, 2008
“The crisis may not end in 2009,” he said.
ArcelorMittal, the world's largest steelmaker, said it was likely to start short-time working and cut production at its German steel plants in December. Two of Britain's most high profile retailers DSG and Kingfisher underlined the severity of the economic slowdown with downbeat results and gloomy outlooks, while variety story group Woolworths went into administration. Britain's retailers face a brutal downturn in consumer spending, amid sliding house prices and rising unemployment