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October consumer prices and home starts plummet (Reuters)
posted on November 19, 2008 09:12:33 am

Shopper Laura Miller (L) and her daughter shop at a Wal-Mart store in Santa Clarita, California April 1, 2008. (Mario Anzuoni/Reuters)Reuters - Consumer prices dropped at the fastest rate on record in October and new home construction was at a record low, according to government reports on Wednesday that underlined how rapidly the economy was weakening.




Market falls on auto bailout worries (Reuters)
posted on November 19, 2008 10:57:19 am

Traders work on the floor of the New York Stock Exchange, November 19, 2008. (Shannon Stapleton/Reuters)Reuters - U.S. stocks fell on Wednesday as fears about the diminishing prospects for a U.S. auto industry rescue and falling financials, offsetting some gains in defensive stocks like drugs.




GM shares at 66-year low amid bailout doubt (Reuters)
posted on November 19, 2008 11:00:04 am

General Motors Chief Executive Officer Richard Wagoner, left takes his seat on Capitol Hill in Washington, Wednesday, Nov. 19, 2008, as Sen. Carl Levin, D-Mich., center, and Rep. Sander Levin, D-Mich., right, talk with an unidentified attendee prior to the start of a House Financial Services Committee hearing on the automotive industry bailout. (AP Photo/Evan Vucci)Reuters - Shares of General Motors Corp fell about 15 percent to a 66-year low on Wednesday as mounting political opposition cast doubt over a proposed $25 billion government bailout for GM and other U.S. automakers.




Auto execs set for more grilling on aid plan (Reuters)
posted on November 19, 2008 10:05:56 am

G. Richard Wagoner (R), chairman and CEO of General Motors, testifies next to Robert Nardelli (2nd R), chairman and CEO of Chrysler, Alan Mulally (2nd L), President and CEO of Ford Motor Company, and Ron Gettelfinger (L), President of the United Auto Workers union, before the Senate Banking, Housing and Urban Affairs in a hearing on 'Examining the State of the Domestic Automobile Industry,' on Capitol Hill in Washington, November 18, 2008. (Molly Riley/Reuters)Reuters - Auto executives headed to Capitol Hill for a second day to argue their case for a $25 billion aid package in the face of mounting political opposition to another huge government bailout.




SEC delays action on credit rating agency rules (Reuters)
posted on November 19, 2008 10:49:02 am
Reuters - U.S. securities regulators on Wednesday delayed action on adopting stricter rules to rein in the credit rating agencies until December 3.

China stocks rebound despite regional losses (AP)
posted on November 19, 2008 06:21:36 am
AP - Chinese shares shrugged off losses elsewhere in Asia to rise Wednesday on a rally in refiners and renewed enthusiasm about a government stimulus package.

U.S. auto execs plead for Congress to fund bailout (Reuters)
posted on November 18, 2008 06:12:08 pm

(L-R) GM's Rick Wagoner, Chrysler's Robert Nardelli and Ford's Alan Mulally in a composite image. Auto executives were set to take their case for a $25 billion industry bailout to Congress on Tuesday as they hope to overcome political opposition from influential congressional Republicans and the White House. (Composite/Files/Reuters)Reuters - U.S. auto executives warned Congress on Tuesday that their industry was teetering on the brink of disaster as they pleaded for a $25 billion aid package despite political opposition to another multibillion-dollar government bailout.




Woolworths plunges on news it may sell stores (AP)
posted on November 19, 2008 06:54:32 am

A customer leaves a Woolworths supermarket in Sydney October 21, 2008. Woolworths Ltd, Australia's largest supermarket chain, posted a 9.6 percent increase in first-quarter sales on Tuesday, as food and liquor sales withstood generally slower consumer demand. REUTERS/Daniel Munoz (AUSTRALIA)AP - Woolworths Group PLC's shares plunged 32 percent Wednesday after the company confirmed it is considering selling its retail business.
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