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/ 26 January 2009
Companies forecast almost 70Â 000 job cuts in a single day as the rampant crisis born in the banking sector struck workers across the globe.
An affiliate of United States-based buyout firm Carlyle Group has defaulted on about ,6-billion of debt and expects its lenders to seize remaining assets as the global credit crunch tightens around leveraged investors. A ”successful refinancing is not possible,” Carlyle Capital said.