DETROIT, Dec. 2, 2008 (Reuters) — General Motors Corp warned the U.S. government on Tuesday that it needs a $4 billion loan by the end of December or else it faces the risk of immediate failure. ... > full story
WASHINGTON, Dec. 2, 2008 (Reuters) — Senate Majority Leader Harry Reid said on Tuesday he plans to offer some sort of legislation for ailing U.S. automakers on Monday. ... > full story
NEW YORK, Dec. 2, 2008 (Reuters) — American International Group Inc and the U.S. government have reached an agreement to clear the insurer of its obligations on about $53.5 billion in toxic mortgage debt, the giant insurer said in a regulatory filing on Tuesday. ... > full story
HOUSTON, Dec. 2, 2008 (Reuters) — Chevron Corp may sell refineries as it continues to focus its downstream business on Asia-Pacific markets, a company vice president said on Tuesday during a presentation to Wall Street analysts. ... > full story
NEW YORK, Dec. 2, 2008 (Reuters) — The New York Times Co will cut 530 jobs and take a charge of up to $53 million for closing its City & Suburban unit, which distributes the company's namesake newspaper in the New York City area. ... > full story
ROCHESTER, New York, Dec. 2, 2008 (Reuters) — The United States does not face a high risk of Japan-style deflation and ought to spell out a target for prices to keep this threat at bay, two top Federal Reserve policy-makers said on Tuesday. ... > full story
DETROIT, Dec. 2, 2008 (Reuters) — Chrysler LLC on Tuesday asked the U.S. government for an emergency $7-billion bridge loan by the end of the year, saying it needs the funds to survive a brutal downturn in sales that has depleted its cash reserves. ... > full story
NEW YORK, Dec. 2, 2008 (Reuters) — Tiffany & Co offered voluntary retirement incentives to about 800 U.S. employees, as the upscale jeweler grapples with an economic downturn that has led its affluent customers to cut spending. ... > full story
WASHINGTON, Dec. 2, 2008 (Reuters) — House of Representatives Democratic Leader Steny Hoyer said on Tuesday he hoped Congress will be able to take action next week on struggling U.S. auto manufacturers' requests for federal financial aid. ... > full story
WASHINGTON, Dec. 2, 2008 (Reuters) — The Federal Reserve has ample tools to use to stimulate the economy even with interest rates nearing zero, the head of the St. Louis Federal Reserve Bank said on Tuesday. ... > full story
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New York Times sees charge for unit closing Dec. 2, 2008 (Valley News Live, North Dakota) — The New York Times Co will cut 530 jobs and take a charge of up to $53 million for closing its City & Suburban unit, which distributes the ...
LeapFrog cuts 10 percent of workers Dec. 2, 2008 (East Bay Business Times) — Teaching toy maker LeapFrog Enterprises Inc. will lay off 10 percent of its workforce -- 70 people -- and reduce its office space, amidst the ...
People spend less amid deepening crisis Dec. 1, 2008 (GulfNews, United Arab Emirates) — Hong Kong (Reuters) Residents of Hong Kong probably reined in spending in October, amid deepening turmoil in financial markets and rising job ...
TSMC, UMC looking to cut costs by 20%, says report Dec. 1, 2008 (EE Times) — TSMC and UMC, the world's two leading providers of foundry manufacturing services, are preparing to cut costs by up to 20 percent, according to a ...
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