Wall Street focus: Autos and the Fed
Investors consider the outlook for Detroit’s Big Three, a likely interest rate cut from the central bank and earnings from Goldman Sachs, Oracle and others.
By Alexandra Twin, CNNMoney.com senior writer
Investors return Monday for the last full trading week of what has been for many an unbelievable, and unbelievably difficult, [...]
Prices May Have Tumbled as Economy Sank: U.S. Economy Preview
The cost of living in the U.S. probably fell in November by the most in six decades, while slumps in manufacturing and homebuilding worsened, sending the economy deeper into a recession, economists said before reports this week.
By Bob Willis
Consumer prices probably dropped 1.2 percent [...]
Auto bailout collapses in Senate
Negotiations to bring measure up for vote fall short, possibly dooming GM, Chrysler to bankruptcy.
By Chris Isidore, CNNMoney.com senior writer
Hopes for Congressional approval of a bailout of the U.S. auto industry appeared to fall apart late Thursday night as Senate leaders said Democrats and Republicans were unable to reach a deal [...]
Americans’ debt shrinks - 1st time ever
Household debt falls by 0.8% as Americans’ net worth falls by largest amount on record on declining home and stock prices.
By David Goldman, CNNMoney.com staff writer
In a sign that Americans’ spending habits are shifting, their household debt fell for the first time ever, as their net worth declined by [...]
Deal on $15 billion auto bailout
White House, congressional Democrats reach agreement that could bring quick vote on stopgap rescue plan.
The White House and leading congressional Democrats have reached an agreement on legislation to provide a stopgap bailout to U.S. automakers, according to officials from the administration and Congress.
White House Deputy Chief of Staff Joel Kaplan [...]
Sweden, IMF to Present Latvia Loan Package This Month
Sweden
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U.K. May Expand Toolkit to Halt Recession Slide
The U.K. government and the Bank of England are considering plans to pump billions of pounds into the economy as the bank rescue package and the lowest interest rates since 1951 fail to halt a slide into recession.
The Bank of England and the Treasury are looking [...]
XL, Bermuda’s Biggest Insurer, Is Said to Seek Buyer
XL Capital Ltd., the biggest Bermuda- based insurer by assets, is seeking a buyer after reporting investment losses larger than its market value, four people with knowledge of the matter said.
XL hired Goldman Sachs Group Inc. to gauge interest from potential bidders, said the people, who [...]