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Financial news and updates, Financial information and Financial advice by Financial advisor at financial culture.

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Warren Buffett, the legendry investor has said that the US government may need to bring in a second stimulus package to revive the economy and put an end to the current recessionary conditions.

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Recession and the high unemployment levels continue to cast a shadow on US retail sales as a majority of retailers reported poor June sales. Heavy rains also contributed to the weak sales in the retail segment.

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Automaker Saab’s Managing Director, Jake Ake Jonsson said in a statement that they were ready to explore all available options for funding or selling Saab. The reason behind their decision is that the company is determined to show that restructuring is the only way with which they could create an independent entity.

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The U.K. economy is predicted to shrink at almost twice the rate that was forecasted last year. The gross domestic product may contract 3.3 percent, instead of the 1.7 percent that was foreseen before. Prime Minister Gordon Brown has spent billions of pounds to revitalize lending. The CBI had predicted that the economy will shrink 4.5 percent from the beginning of the recession in the third quarter of last year. The output will also stagnate in 2010.

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Information about finance, financial products like, mortgage, banks, credit cards, insurance etc. Definition of known financial terms and blog posts on current finance news. Informative articles covering topics and definitions of stock market.

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