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October consumer prices and home starts plummet (Reuters)
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.
Publ.Date : Wed, 19 Nov 2008 14:12:33 GMT
Market slides on auto woes (Reuters)
Traders work on the floor of the New York Stock Exchange, November 19, 2008. (Shannon Stapleton/Reuters)Reuters - U.S. stocks extended losses on Wednesday, sending the benchmark S&P 500 (.SPX) down more than 2 percent, as the prospect for a U.S. auto industry rescue turned bleak and financial shares tumbled on concerns about the deepening economic downturn.
Publ.Date : Wed, 19 Nov 2008 16:12:12 GMT
GM shares at 66-year low amid bailout doubt (Reuters)
Auto industry executives, from left, General Motors Chief Executive Officer Richard Wagoner; Chrysler Chief Executive Officer Robert Nardelli;  Ford Chief Executive Officer Alan Mulally; and Ron Gettelfinger, president of the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America, testify on Capitol Hill in Washington, Wednesday, Nov. 19, 2008, before a House Financial Services Committee hearing on the automotive industry bailout.  (AP Photo/Gerald Herbert)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.
Publ.Date : Wed, 19 Nov 2008 16:00:04 GMT
Auto execs set for more grilling on aid plan (Reuters)
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.
Publ.Date : Wed, 19 Nov 2008 15:05:56 GMT
SEC delays action on credit rating agency rules (Reuters)
Reuters - U.S. securities regulators on Wednesday delayed action on adopting stricter rules to rein in the credit rating agencies until December 3.
Publ.Date : Wed, 19 Nov 2008 15:49:02 GMT
China stocks rebound despite regional losses (AP)
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.
Publ.Date : Wed, 19 Nov 2008 11:21:36 GMT
U.S. auto execs plead for Congress to fund bailout (Reuters)
(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.
Publ.Date : Tue, 18 Nov 2008 23:12:08 GMT
Woolworths plunges on news it may sell stores (AP)
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.
Publ.Date : Wed, 19 Nov 2008 11:54:32 GMT
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