The last hundred year`s biggest credit crunch

One of the most powerful investment banks collapsed on Sunday night.
The 135 year old Lehman Brothers employed some 25.000 people wordwide,
of which about 5.000 were in the UK, most of them were told that they no longer have a job.
LB bit off more than it could chew and lent more money than it had. What happend to them could easily pull down a number of other organizations, like banks and investors.
The effects of the bankruptcy will spread through the world market and in four-five months might reach Asia too.

Szeptember 2008
G. B. Hungary

Lehman Bros bankruptcy

Lehman Brothers which was a global investment bank collapsed on Sept 14th 2008.
The present economic situation is similar to the 1920's.
There were 5,000 staff in the UK and 25,000 around the world.
They could be placed into liquidation.
Many economists said the effects will be spread all over the world including Hungary.
Other banks also will be in danger of collapse.

Ryusuke

VISIT TO THE CASTLE COMPLEX

Yesterday we went to the castle in Oxford.The date of the castle hill is 1071. It was very sunny, we went at 2:20 p.m on foot. This castle was a prison before and now there are restaurants, a hotel with many rooms ,an ancient hill and gallery. In this gallery we saw an exhibition and there are many paintings and a bronze sculpture of a dog .In the restaurants there are a lot of menus:Italian,Spanish,Japanese..... and the price of food is very expensive.
We had a good time there.

Kazakhstan and China sign oil and gas pipelines agreement

Kazakhstan and China signed an agreement to transport oil and gas from Kazakhstan to China. They found a new oil ressource near the Caspian Sea. Kazakhstan will be the main supplier of gas and oil to China. Russia is unhappy with this because it could affect their business with China. America and the west want Kazakhstan to sell some of this oil to them. They agreed to transport not more than 400,000 barrels a day. China rewarded Kazakhstan by signing an agreement of $292.8m to invest in Aluminum Smelter.

By Hazem, Jose, Manuela, Yazid and Phannipa

Sharing "thinspiration"

Have you ever heard about anorexia websites?

A lot of anorexic people can share their experience on line. The strange thing is that they compare their goal weights and measurements in a way "to keep each other strong".

Someone says: " Thinner is the winner", others say: "What diet pills works best?".

We think it is a bad idea to create a website like that because it doesn't solve anorexia.

Although at the same time we can understand the feelings of anorexic people because they can feel better when they chat with others who are in the same situation. As a person says:"I joined groups to get web tips and to have a place to share my feelings, rather than be judged".

For more information visit http://news.bbc.co.uk/1/hi/magazine/6935768.stm

Posted by Laura and Phannipa

New strategy???

Everybody knows the actual low value of the Dollar.
The Dollar reaches the lowest point since the beginning of the summer 2007.
Could it be a strategy of the American government?
We could imagine it permits the USA to have an increase of the exports with more cheaper products on the market.
What do you think about this?

Posted by Manuela and Mehdi