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Yuan Forwards Advance Most Since Peg as China Seeks Stability
Published December 5, 2008, 4:40 am, Bloomberg
Dec. 5 (Bloomberg) -- Yuan forwards advanced the most since the end of the dollar peg in 2005 as China pledged to maintain stability in the currency. Bonds rose.
Automakers make case to Congress for loan
Published December 5, 2008, 4:40 am, Cadillac News
WASHINGTON - U.S. automakers drew fresh skepticism from lawmakers Thursday in a rocky confrontation over their pleas for an expanded $34 billion rescue package they say they need to survive. Congressional analysts said one bailout plan under consideration would fall short of what the carmakers want.
Carmakers' bailout pleas hit Senate skepticism
Published December 5, 2008, 4:40 am, Ionia Sentinel-Standard
WASHINGTON - Desperate U.S. automakers ran into fresh obstacles from skeptical lawmakers Thursday as they appealed with rising urgency - and a new dose of humility - for a $34 billion bailout. Without help, said one senator, “we're looking at a death sentence.”
Employers shedding jobs as recession deepens
Published December 5, 2008, 4:36 am, AP via Yahoo! News
With the economy sinking faster, employers are giving more Americans dreaded pink slips right before the holidays.
Employers shedding jobs as recession deepens
Published December 5, 2008, 4:36 am, AP via Yahoo! Finance
With the economy sinking faster, employers are giving more Americans dreaded pink slips right before the holidays. The Labor Department releases a new report Friday that's expected to show the employment market deteriorated in November at an alarming clip as the deepening recession engulfed the country.
AP IMPACT: Some bailout holdings down $9 billion
Published December 5, 2008, 4:36 am, AP via Yahoo! News
Stock intended to eventually earn taxpayers a profit as part of the Bush administration's massive bank bailout has lost a third of its value — about $9 billion — in barely one month, according to an Associated Press analysis. Shares in virtually every bank that received federal money have remained below the prices the government negotiated.
AP IMPACT: Some bailout holdings down $9 billion
Published December 5, 2008, 4:36 am, AP via Yahoo! Finance
Stock intended to eventually earn taxpayers a profit as part of the Bush administration's massive bank bailout has lost a third of its value -- about $9 billion -- in barely one month, according to an Associated Press analysis.
Business : China, US pledge 20 bln dollar trade boost
Published December 5, 2008, 4:34 am, Khaleej Times
BEIJING - China and the United States on Friday ended key economic talks with vows of 20 billion dollars of trade financing to boost commerce amid uncertainty over whether the biannual discussions would continue.
U.S. and China trade views
Published December 5, 2008, 4:34 am, Scotland Today
LONDON/HONG KONG (Reuters) - China and the United States sparred on Friday over how to handle an economic crisis that has forced central banks around the globe into a series of dramatic interest rate cuts.
US, China pledge $20 billion trade finance
Published December 5, 2008, 4:30 am, Deutsche Welle
US Treasury chief Henry Paulson says the United States and China have agreed to make 20 billion dollars available in boost trade amid the global slowdown. Paulson made the announcement at the end of a two-day Strategic Economic Dialogue meeting in Bejing.
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