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, [...]
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 [...]
Congress, White House Near Agreement on Auto Aid, Frank Says
Congress and President George W. Bush are negotiating the final details of a $15 billion measure to rescue domestic automakers without forcing the ouster of their chief executives, House Financial Services Chairman Barney Frank said.
By John Hughes
The measure will likely be approved by Congress [...]
U.S. Auto Chiefs Appeal to Congress for Emergency Aid
The Big Three automakers renewed their plea for an emergency federal bailout, as the head of General Motors Corp. told a deadlocked Congress the industry has made some wrong turns and economic forces pushed it
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Toyota Suffers First Credit Rating Cut in 10 Years
Toyota Motor Corp.’s debt rating was cut by Fitch Ratings, the automaker’s first downgrade in 10 years, as the slump in U.S. car sales drags down earnings at the company with the industry’s best credit.
By Makiko Kitamura and Tetsuya Komatsu
Nov. 26 (Bloomberg) — Toyota Motor Corp.’s debt [...]