washingtonpost.com
Automakers' debt may be obstacle to federal loans
01.12.2008 16:06
washingtonpost.com
DETROIT -- They'll park some corporate jets, cut executive pay and serve up concessions from the United Auto Workers, but Ford Motor Co., General Motors Corp. and perhaps Chrysler LLC also will have to address massive debts to persuade a skeptical Congress to loan them money.
USA
Machine-Building Industry
Gold, other commodities tumble on economic data
01.12.2008 16:06
washingtonpost.com
NEW YORK -- Gold prices and other commodities tumbled Monday, as confirmation that the nation is in a recession further unnerved investors already concerned about a drop off in demand for raw materials.
USA
Finance & Investments
Dow plunges on news recession began in Dec. 2007
01.12.2008 16:06
washingtonpost.com
WASHINGTON -- Most Americans sorely knew it already, but now it's official: The country is in a recession, and it's getting worse. Wall Street convulsed at the news _ and a fresh batch of bad economic reports _ tanking nearly 680 points. With the economic pain likely to stretch well into 2009, Federal Reserve Chairman Ben Bernanke said Monday he stands ready to lower interest rates yet again and to explore other rescue or revival measures.
USA
Finance & Investments
Government bond yields hit fresh lows
01.12.2008 16:06
washingtonpost.com
NEW YORK -- Yields on long-term U.S. government debt sank to record lows Monday as worries about mounting economic problems and a stock market plunge touched off another investor rush to safety. The possibility that the Federal Reserve could enter the Treasury market as a buyer also helped drive down yields.
USA
Finance & Investments
Bush: 'I'm sorry' the economic crisis is occurring
01.12.2008 16:06
washingtonpost.com
WASHINGTON -- President George W. Bush expressed remorse that the global financial crisis has cost jobs and harmed retirement accounts and said he'll back more government intervention if needed to ease the recession.
USA
Finance & Investments
JPMorgan to cut 9,200 Washington Mutual jobs
01.12.2008 16:05
washingtonpost.com
NEW YORK (Reuters) - JPMorgan Chase & Co said on Monday it will eliminate about 9,200 jobs at the former Washington Mutual Inc , which on September 25 became the largest U.S. bank to fail.
USA
Finance & Investments
Stocks Plunge on Poor Economic Data, Holiday Jitters
01.12.2008 14:12
washingtonpost.com
Stocks plunged 680 points today on the Dow Jones Industrial average after a national nonprofit agency officially declared that the country has been in a recession for nearly a year.
USA
Machine-Building Industry
Ford weighs selling Volvo amid industry downturn
01.12.2008 14:12
washingtonpost.com
DETROIT -- Ford Motor Co. is considering selling Volvo Car Corp. as the U.S. automaker seeks to raise cash and survive tight credit markets and a global automotive sales crisis.
USA
Machine-Building Industry
Ford considers sale of Volvo
01.12.2008 14:12
washingtonpost.com
DETROIT (Reuters) - Ford Motor Co said on Monday it was reviewing options for Volvo and could sell the luxury Swedish car brand as it scrambles to shore up cash amid a deep industry downturn.
USA
Machine-Building Industry
Fed Prepared to Lower Interest Rates, Bernanke Says
01.12.2008 12:07
washingtonpost.com
The Federal Reserve stands ready to cut interest rates further and to expand its novel efforts to inject cash into various corners of the financial markets, Chairman Ben S. Bernanke said today as he laid out various steps the central bank could take to further stimulate the economy.
USA
Finance & Investments
Sweden talks to US carmakers about Saab, Volvo
01.12.2008 06:10
washingtonpost.com
STOCKHOLM, Sweden -- The Swedish government confirmed Monday it is in talks with General Motors Corp. and Ford Motor Co. after a report that the U.S. automakers are seeking support for their struggling Swedish brands Saab and Volvo Cars.
USA
Machine-Building Industry
Ryanair renews bid for Aer Lingus
01.12.2008 06:10
washingtonpost.com
DUBLIN, Ireland -- Budget airline Ryanair launched a new takeover bid Monday for Aer Lingus, seeking to capitalize on labor unrest at its Irish rival and Ireland's economic difficulties.
USA
Machine-Building Industry
Stock futures point lower ahead of economic data
01.12.2008 06:10
washingtonpost.com
NEW YORK -- Wall Street appeared ready Monday to give back some of last week's big gains as investors, uneasy about the holiday shopping season, awaited some key economic reports.
USA
Finance & Investments
Stock futures slide on economy and consumer worries
01.12.2008 06:10
washingtonpost.com
NEW YORK (Reuters) - Stock index futures fell on Monday as concerns about the deepening world economic slump reduced the appetite for risk and investors fretted about the start of what they fear will be a bleak holiday buying season.
USA
Finance & Investments
Germany's BayernLB to slash 5,600 jobs
01.12.2008 06:10
washingtonpost.com
MUNICH, Germany -- State bank BayernLB plans to cut 5,600 jobs _ 29 percent of its total work force _ to weather the global financial crisis, the company said Monday.
USA
Finance & Investments
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