World Business News Headlines for November 16, 2008

U.S. auto sector bankruptcy would devastate: GM CEO

DETROIT (Reuters) - U.S. auto industry bankruptcies would have a devastating impact on the domestic economy, many times larger than the aid automakers seek, General Motors Corp Chief Executive Rick Wagoner said on Sunday.

Source: Reuters: Business News | 16 Nov 2008 | 5:50 pm

U.S. auto sector bankruptcy would devastate: GM CEO (Reuters)

Reuters - U.S. auto industry bankruptcies would have a devastating impact on the domestic economy, many times larger than the aid automakers seek, General Motors Corp Chief Executive Rick Wagoner said on Sunday.
Source: Yahoo! News: Business | 16 Nov 2008 | 5:50 pm

ETF Investing: ETF managers eye retirement-plan space with target-date funds

BOSTON (MarketWatch) -- The exchange-traded fund industry is stepping up efforts to capture the crown jewel of the mutual-fund business: lucrative 401(k) retirement-plans.

Source: MarketWatch.com - Top Stories | 16 Nov 2008 | 5:34 pm

Chuck Jaffe: Five rules for investing in an unruly market

BOSTON (MarketWatch) -- Jack Bogle, the founder of the Vanguard Group, reminded me recently that one of his "prime rules of investing" can be summed up in two words: Don't peek.

Source: MarketWatch.com - Top Stories | 16 Nov 2008 | 5:28 pm

Leaders welcome G20 action plan

World leaders welcome the outcome of the G20 summit but some observers say the action plan does not go far enough.
Source: BBC News | Business | World Edition | 16 Nov 2008 | 5:20 pm

Obama resigns Senate seat, adds White House staff

CHICAGO (Reuters) - U.S. President-elect Barack Obama resigned his seat in the Senate on Sunday to focus on his transition to the White House, appointing new staff and thanking his home state of Illinois for launching his political career.

Source: Reuters: Business News | 16 Nov 2008 | 5:05 pm

NewsWatch: U.S. stocks focus on G20 talks, key economic reports

Investors will turn their attention next week to economic data and the possibility of further intervention by U.S. and foreign leaders as woes pile up for the American auto industry at home and many industries around the globe.

Source: MarketWatch.com - Top Stories | 16 Nov 2008 | 5:00 pm

Republicans Begin To Turn Against Detroit Bailout, Increases Chances of Bankruptcies

With the Fed and Treasury apparently willing to sit on the sidelines while GM (GM) and Chrysler run low on money and head toward possible bankruptcies, it has been left to Congress to put together a bailout package, probably $25 billion in loans.

For the legislative route to be successful, Senate Republicans would probably have to back that financial rescue in fairly large numbers to get the bill to the president's desk. That is now much less likely to happen than it appeared at the end of last week.

According to Reuters, "A top Republican senator says he will fight a Democratic plan to bail out U.S. automakers. The opposition by Sen. Richard Shelby and other GOP lawmakers raises doubts about whether the plan will pass in this week's postelection session."

That leave the issue to the new president and the new Congress.

Many analysts believe that GM will be too low on money by the time that Obama is sworn to have adequate cash to be able to pay key suppliers. That will leave auto parts companies with the choice of extending credit at a substantial risk or letting GM shut down operations, further hurting its chances of surviving. One argument is that the supply companies will bet that GM will be bailed out and that it will continue to pay its bills.

If GM fails and it not immediately sold to a healthy firm like Toyota (TM) or VW, there is a very reasonable chance that it will take a number of auto suppliers who rely on it for most of their revenue under as well. A lack of supply of essential parts could cripple manufacturing at the production facilities of Ford (F) and other firms that assemble vehicles in the US.

In other words, it would be a game of dominoes from hell.

Douglas A. McIntyre

Source: 24/7 Wall St. | 16 Nov 2008 | 4:29 pm

Oil output cuts not likely - OPEC chief

Read full story for latest details.

Source: Business and financial news - CNNMoney.com | 16 Nov 2008 | 4:19 pm

Israel Stocks: Tel Aviv shares fall again, but Given soars

Israeli stocks start off the week on a sour note, falling for a fifth-straight session, with declines led by Teva Pharmaceutical and Israel Chemicals.

Source: MarketWatch.com - Top Stories | 16 Nov 2008 | 4:07 pm

New tech wreck fears jolt Wall St

Even as leaders of the 20 richest nations met in Washington at the weekend to try to restore confidence to battered world economies, fallout from the credit crisis continued to spread. In the United States, the tech sector is the...
Source: New Zealand Herald - Business | 16 Nov 2008 | 4:00 pm

World leaders pledge closer links

WASHINGTON - World leaders battling a dire and deepening economic crisis vowed to co-operate more closely, keep a sharper eye out for red-flag problems and give bigger roles to fast-rising nations - but kicked many hard details down...
Source: New Zealand Herald - Business | 16 Nov 2008 | 4:00 pm

Obama win won't derail trade deal, says leader

Relations with the US have improved dramatically, a free-trade deal is on the agenda and the election of new governments will not derail the progress, says visiting United States-New Zealand Council president John E. Mullen. Prime...
Source: New Zealand Herald - Business | 16 Nov 2008 | 4:00 pm

Low dollar not a quick fix for exporters

The New Zealand dollar has fallen sharply this year and is now trading at about 56c against the greenback. It is tipped to fall even further, so you might expect the export sector would be celebrating. For the past few years and...
Source: New Zealand Herald - Business | 16 Nov 2008 | 4:00 pm

Call to cut tax on KiwiSaver 'simplistic'

A retirement policy expert says a call to lower the tax on KiwiSaver investment returns so that it equals the incentives is too simplistic. Michael Littlewood, co-director of the Retirement Policy and Research Centre, said an analysis...
Source: New Zealand Herald - Business | 16 Nov 2008 | 4:00 pm

Aspiring angels offered change of a Halo

Those with spare cash wanting to try their hand at angel investing are being offered an easy entree. The New Zealand Venture Investment Fund has set up the Halo Fund, an initiative aimed at attracting new angels. Angel investors...
Source: New Zealand Herald - Business | 16 Nov 2008 | 4:00 pm

Rugby Sevens venue emerges from Dubai sands

Near abandoned camel farms in the desert, another of Dubai's construction feats is nearing completion. From the sand is emerging a rugby complex to seat 40,000 fans for next year's Rugby World Sevens and the first round of the...
Source: New Zealand Herald - Business | 16 Nov 2008 | 4:00 pm

Gen Xers encouraged into debt to be rich

While most people are tightening their belts, Generation Xers are being told they have a lot to gain from getting further in debt. Australian finance writer Bruce Brammall says people aged between 28 and 48 should be borrowing...
Source: New Zealand Herald - Business | 16 Nov 2008 | 4:00 pm

Owen Hembry: Guinea pigs stuck in the carbon tax sty

New leaders, new ideas and an expectation of change will see the heat come on the National Government's agriculture policy in the coming months, - including from new partner Act and agricultural body Federated Farmers. The Resource...
Source: New Zealand Herald - Business | 16 Nov 2008 | 4:00 pm

Voucher firm looks to fund for expansion

Todd Wackrow is one entrepreneur who is looking for the kind of backing the Halo Fund can provide. Wackrow established Pocketvouchers 18 months ago, the only company in Australasia to offer retailers a digital discount voucher...
Source: New Zealand Herald - Business | 16 Nov 2008 | 4:00 pm

Into the red

Fine wine prices fall as economic woes hit the super rich
Source: BBC News | Business | World Edition | 16 Nov 2008 | 3:54 pm

Iraq Cabinet approves deal for U.S. withdrawal by 2011

The Iraqi Cabinet approves a plan to require all U.S. troops to leave Iraq by the end of 2011, regardless of conditions on the ground.

Source: MarketWatch.com - Top Stories | 16 Nov 2008 | 3:43 pm

Carphone mulls TalkTalk spin-off

Carphone Warehouse is considering plans to spin off its TalkTalk broadband internet business, reports say.
Source: BBC News | Business | World Edition | 16 Nov 2008 | 3:42 pm

Economic Report: Housing starts seen lowest in over 60 years

Few observers have ever seen anything like the economic data that will be released in the coming week, with the consumer price index and housing starts each expected to breach records dating back to the late 1940s.

Source: MarketWatch.com - Top Stories | 16 Nov 2008 | 3:33 pm

Unremitting gloom and capital flight (Reuters)

Reuters - Investors enter the week surrounded by unrelentingly poor global economic news, fading hopes of a significant end-of-year stock market recovery and a growing reliance on governments coming to the rescue.
Source: Yahoo! News: Business | 16 Nov 2008 | 3:01 pm

Unremitting gloom and capital flight

LONDON (Reuters) - Investors enter the week surrounded by unrelentingly poor global economic news, fading hopes of a significant end-of-year stock market recovery and a growing reliance on governments coming to the rescue.

Source: Reuters: Business News | 16 Nov 2008 | 3:01 pm

Unremitting gloom and capital flight

OPEC head: oil production cuts unlikely this month

The head of OPEC says oil output reductions aren't likely this month because the cartel hasn't yet fully enforced previous quotas or collected all current production data. Chakib Khelil,
Source: Infocious RSS raw feed - channel BNewsBusiness | 16 Nov 2008 | 2:50 pm

J.P. Morgan reportedly plans thousands of job cuts

J.P. Morgan is planning thousands of job cuts worldwide, including hundreds within London, according to a U.K. news report.

Source: MarketWatch.com - Top Stories | 16 Nov 2008 | 2:50 pm

JP Morgan could axe thousands of jobs: report (Reuters)

Reuters - JP Morgan, the U.S. investment bank, is drawing up plans to axe thousands of jobs across its worldwide operations, reports The Sunday Telegraph.

Source: Yahoo! News: Business | 16 Nov 2008 | 2:27 pm

JP Morgan could axe thousands of jobs: report

LONDON (Reuters) - JP Morgan, the US investment bank, is drawing up plans to axe thousands of jobs across its worldwide operations, reports The Sunday Telegraph.

Source: Reuters: Business News | 16 Nov 2008 | 2:27 pm

SportsWatch: In the end, Lesnar was just too big for Couture

LAS VEGAS (MarketWatch) - In the end, he was just too big.

Source: MarketWatch.com - Top Stories | 16 Nov 2008 | 2:02 pm

NewsWatch: U.S. stocks focus on G20 talks, key economic reports

Source: MarketWatch.com - Top Stories | 16 Nov 2008 | 2:00 pm

Gas price drop: 60 days straight

Remember $4 gas? Soon it will be $2 gas.

Source: Business and financial news - CNNMoney.com | 16 Nov 2008 | 1:21 pm

Message to Obama: Send loans fast

What could jump-start the economy? Affordable loans for small business.

Source: Business and financial news - CNNMoney.com | 16 Nov 2008 | 1:09 pm

New mortgage rescue: Who gets help

Mortgage giants Fannie Mae or Freddie Mac may back 30 million mortgages. But that doesn't mean that the new foreclosure prevention program announced this week by the Bush administration will rescue every troubled borrower on their books.

Source: Business and financial news - CNNMoney.com | 16 Nov 2008 | 12:53 pm

Report: UBS to hold back management bonuses

Switzerland's largest bank plans to delay the bonuses it pays to senior managers to discourage the kind of risky short-term behavior that has cost it more than 45 billion francs ($40...
Source: Infocious RSS raw feed - channel BNewsBusiness | 16 Nov 2008 | 12:44 pm

World leaders outline fix

World leaders unveiled a set of sweeping plans on Saturday aimed at tackling the ever-expanding economic crisis, but as expected they sketched out an agenda for more work in coming months and another meeting early next year.

Source: Business and financial news - CNNMoney.com | 16 Nov 2008 | 12:30 pm

Austria: Former Finance Minister dies at 85

Wolfgang Schmitz, former Austrian finance minister and president of the country's central bank, died early Sunday, his People's Party said in a statement. He was 85. Schmitz served as...
Source: Infocious RSS raw feed - channel BNewsBusiness | 16 Nov 2008 | 12:22 pm

Gulf stocks plunge as G20 fails to halt panic

Stock markets in the Gulf states plunged on the week's opener Sunday as panic from the fallout of the global economic crisis continued to dampen investor sentiment. The slump
Source: Infocious RSS raw feed - channel BNewsBusiness | 16 Nov 2008 | 12:15 pm

G20 Meeting On Financial Crisis A Failure

A little less conversation a little more action please
All this aggravation ain't satisfactioning me
A little more bite and a little less bark
A little less fight and a little more spark...Elvis Presley

The G20 financial summit did not yield much of significance if it was meant to help staunch the bleeding brought on by the worldwide economic crisis.

Among the modest and and ill-defined suggestions from the meeting, members "urged governments to implement "appropriate" fiscal and monetary policies to shore up sagging economic, according to The Wall Street Journal.

The meeting lasted less than six hours.

The document issued by the members suggested more oversight of hedge funds, more transparency for trading in the global default swaps mareket, and greater supervision of credit rating agencies. All of these steps have been urged by central banks and economists for months. In other words, there was nothing new here and the proposals were given no teeth. For the entire text of the summit declaration check here.

The document also called for a "colleges of supervisors" will be set up to monitor the world's biggest financial institutions.

The G20 plans another meeting for April 2009. The world ought to be in the grips of the worst recession in seven decades by then, and it will be too late for goverments to do much about it.

Douglas A. McIntyre

Source: 24/7 Wall St. | 16 Nov 2008 | 12:02 pm

ARCADIS Designs New Safety System Rotterdam Metro

ARNHEM, The Netherlands, November 16 /PRNewswire-FirstCall/ -- ARCADIS (EURONEXT: ARCAD), the international consulting, design, engineering and management services...
Source: Infocious RSS raw feed - channel BNewsBusiness | 16 Nov 2008 | 12:00 pm

LSE chief Furse's defensive mettle may pro

LONDON (Reuters) - Clara Furse has proved her mettle at the helm of Britain's centuries-old stock market by seeing off a series of suitors, but tough markets are a different challenge just as she prepares to step down.

Source: Reuters: Business News | 16 Nov 2008 | 11:30 am

Iraq's cabinet approves troops pact with US

Iraq's cabinet approved a pact that will allow US forces to remain in the country until 2011, bringing an end to nearly a year of intense negotiations
Source: FT.com - US homepage | 16 Nov 2008 | 11:00 am

Gulf stocks plunge as panic continues

World leaders urge fast action on financial crisis

WASHINGTON (Reuters) - World leaders pledged rapid action on Saturday to rescue a weakening global economy from the worst financial crisis in over 70 years and agreed to give emerging nations more say in running financial affairs.

Source: Reuters: Business News | 16 Nov 2008 | 10:31 am

More cancellations as pilots' strike continues: Air France

Air France passengers faced cancellations and delays for a third day on Sunday after French pilots voted to press on with a strike that has severely hit the national carrier.
Source: Infocious RSS raw feed - channel BNewsBusiness | 16 Nov 2008 | 10:26 am

Cymer plans to cut 85, or 8%, of jobs worldwide

Cymer Inc. said it would cut 85, or 8%, of its jobs worldwide and take a $3.2 million fourth-quarter charge for the reduction.

Source: MarketWatch.com - Top Stories | 16 Nov 2008 | 10:13 am

Brown claims G20 success as world leaders agree tax and interest rate cuts

Tories' lead cut to five points in Sunday Times/YouGov poll
Source: Latest Business News from Times Online | 16 Nov 2008 | 9:00 am

Central banker: Zimbabweans to blame for inflation

Zimbabwe's central bank chief says ordinary Zimbabweans are to blame for the country's crippling inflation. Reserve Bank Governor Gideon Gono is quoted in The Sunday Mail, a state-owned...
Source: Infocious RSS raw feed - channel BNewsBusiness | 16 Nov 2008 | 8:56 am

Murdoch blasts 'obsolete' attitudes in newspaper industry

Rupert Murdoch on Sunday dismissed the suggestion that newspapers are a dying breed, but the global medial mogul said the ideas of some editors and journalists were obsolete in the digital...
Source: Infocious RSS raw feed - channel BNewsBusiness | 16 Nov 2008 | 8:56 am

Selling mutual fund shares at the bottom offers tax advantages

Stock index fund owners can offset gains, and future income, and preserve their asset mix through a sale-and-repurchase plan. ...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 16 Nov 2008 | 8:00 am

Boom times for barter

When money's tight, cash-free transactions can keep you afloat

In this tough economy, Valerie Whitlock uses two forms of currency: money and barter.

Source: L.A. Times - Business | 16 Nov 2008 | 8:00 am

Boom times for barter

When money's tight, cash-free transactions can keep you afloat In this tough economy, Valerie Whitlock uses two forms of currency: money...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 16 Nov 2008 | 8:00 am

Tyler Goldman: Giving pop culture more fizz

The chief of Buzznet says his sites have attracted more than 37 million users, in part because of the community's ability to constantly supply new content. ...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 16 Nov 2008 | 8:00 am

Calls grow to overhaul 401(k) retirement plans

The financial crisis, which has caused a dramatic decline in the value of the average worker's account, has undermined confidence in the system. ...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 16 Nov 2008 | 8:00 am

Bail out Big Three carmakers? Sure, with conditions

To start with, let's require the U.S. automakers to come up with a blueprint for a 100-mile-per-gallon car. As...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 16 Nov 2008 | 8:00 am

Bail out Big Three carmakers? Sure, with conditions

To start with, let's require the U.S. automakers to come up with a blueprint for a 100-mile-per-gallon car.

As Glendale attorney Bruce Ehrlich filled up his gas tank in Los Angeles last week, he told me he wasn't happy about the prospect of a multibillion-dollar bailout of the U.S. auto industry. But he understood the need for some taxpayer aid.

Source: L.A. Times - Business | 16 Nov 2008 | 8:00 am

Calls grow to overhaul 401(k) retirement plans

The financial crisis, which has caused a dramatic decline in the value of the average worker's account, has undermined confidence in the system.

For nearly three decades, working Americans have been part of a huge experiment with their future well-being: Old-fashioned pensions that guaranteed specific retirement benefits have given way to old-age benefits that depend on personal investing in the financial markets.

Source: L.A. Times - Business | 16 Nov 2008 | 8:00 am

Getting cable firms to cut fees

There is just enough competition in the cable and fiber-optic TV market now to get prices down. (" Let’s pay only for the TV we watch ," Nov. 12.)

Source: L.A. Times - Business | 16 Nov 2008 | 8:00 am

Website exec sees signs of housing revival in Southland

Glenn Kelman of online brokerage Redfin says L.A. prices may have taken their biggest hits already.

Glenn Kelman, chief executive of the online real estate brokerage Redfin, met with me recently about price and sales declines in some of the real estate markets his company serves across the country.

Source: L.A. Times - Business | 16 Nov 2008 | 8:00 am

G-20 economic summit brings pledges of teamwork

Leaders agree to tighter controls on financial markets and to work together to halt the global economic crisis. Bush defends the gathering as a good start.

World leaders agreed Saturday to put tighter controls on financial markets and work together to halt the economic crisis now cascading across the globe, but their summit was overshadowed by the knowledge that any long-term plan depended on someone who did not even attend: President-elect Barack Obama.

Source: L.A. Times - Business | 16 Nov 2008 | 8:00 am

Getting cable firms to cut fees

There is just enough competition in the cable and fiber-optic TV market now to get prices down. (" Let’s pay only for the TV we watch ," Nov. 12.)
Source: Infocious RSS raw feed - channel BNPaperBusiness | 16 Nov 2008 | 8:00 am

Selling mutual fund shares at the bottom offers tax advantages

Stock index fund owners can offset gains, and future income, and preserve their asset mix through a sale-and-repurchase plan.

I'm waiting for one more really bad day in the stock market to sell all my shares in an index mutual fund.

Source: L.A. Times - Business | 16 Nov 2008 | 8:00 am

Website exec sees signs of housing revival in Southland

Glenn Kelman of online brokerage Redfin says L.A. prices may have taken their biggest hits already. Glenn Kelman,...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 16 Nov 2008 | 8:00 am

Changing times

Why the G20 cast list was its most remarkable feature
Source: BBC News | Business | World Edition | 16 Nov 2008 | 3:27 am

G-20 economic summit brings pledges of teamwork

Leaders agree to tighter controls on financial markets and to work together to halt the global economic crisis. Bush defends the gathering as a good start. ...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 16 Nov 2008 | 3:08 am

Summit pledge to 'restore growth'

Global leaders at the G20 financial summit in Washington pledge to work together to restore global growth.
Source: BBC News | Business | World Edition | 16 Nov 2008 | 2:19 am

House will help automakers - Pelosi

Read full story for latest details.

Source: Business and financial news - CNNMoney.com | 16 Nov 2008 | 2:00 am

World leaders unite to restore growth

World leaders agreed to take 'whatever further actions are necessary' to tackle the financial crisis and restore global growth at an emergency summit of the Group of 20 in Washington on Saturday
Source: FT.com - US homepage | 16 Nov 2008 | 12:52 am

GM lobbying hard for bailout: report

NEW YORK (Reuters) - General Motors Corp has been telling U.S. government officials that a bankruptcy filing by the automaker would set off a chain reaction hitting hundreds of its suppliers and dealers as well as its Detroit rivals, The Wall Street Journal reported on Saturday.

Source: Reuters: Business News | 16 Nov 2008 | 12:14 am

GM lobbying hard for bailout: report (Reuters)

Reuters - General Motors Corp has been telling U.S. government officials that a bankruptcy filing by the automaker would set off a chain reaction hitting hundreds of its suppliers and dealers as well as its Detroit rivals, The Wall Street Journal reported on Saturday.
Source: Yahoo! News: Business | 16 Nov 2008 | 12:14 am

Will a state bank herald a return to the 1970s?

It is only a Whitehall whisper at the moment, but the idea is starting to gain traction in government — to resurrect the National Enterprise Board (NEB). Set up under Labour in the 1970s, its aim was to pump-prime industry and act as a holding company for the government’s stakes in business.
Source: Latest Business News from Times Online | 16 Nov 2008 | 12:01 am

UK on ropes as Bank throws in the towel

These are difficult days for the Bank of England. An institution that sets itself high standards and prides itself on its dignity and decorum is getting a battering.
Source: Latest Business News from Times Online | 16 Nov 2008 | 12:01 am

Fighting the financial inferno

The National Building Museum in Washington does not figure highly on the itinerary of most visitors to the capital. Designed by a US Army quartermaster-general, it was intended as the headquarters of the US Pension Bureau and its ugliness led one architectural critic to regret that it was fireproof.
Source: Latest Business News from Times Online | 16 Nov 2008 | 12:00 am

Anger as Volex non-executives line up for £2m payout

ELECTRIC power and fibre-optic cable-maker Volex has come under fire from shareholders for proposing a long-term incentive scheme for its non-executive directors.
Source: Latest Business News from Times Online | 16 Nov 2008 | 12:00 am

Easyjet directors ready to repel founder Stelios

DIRECTORS at Easyjet plan to thwart Sir Stelios Haji-Ioannou’s dramatic attempt to change the airline’s strategy by recruiting at least one more independent non-executive to the board.
Source: Latest Business News from Times Online | 16 Nov 2008 | 12:00 am

Insurance blow for Whistles

JANE SHEPHERDSON, chief executive of the fashion chain Whistles, is in detailed talks with her financial backers to secure more than £1m of working capital after being hit by the withdrawal of credit insurance for the business.
Source: Latest Business News from Times Online | 16 Nov 2008 | 12:00 am

Car firms ask Darling for cheap loan deals

BRITAIN’s beleaguered carmakers are to make their first appeal for direct financial assistance from the government this week, asking for cheap loans to fund their finance arms and help the restructuring of their manufacturing operations.
Source: Latest Business News from Times Online | 16 Nov 2008 | 12:00 am

Detroit dinosaurs call for bank-style bailout

The United States Secret Service revealed its not-so-secret code-name for president-elect Barack Obama last week: Renegade. If it sounds like the make of a car, that’s because it is.
Source: Latest Business News from Times Online | 16 Nov 2008 | 12:00 am

Alistair Darling seeks delay on Northern Rock repayment

NORTHERN ROCK could delay repayment of its remaining £11.5 billion in taxpayer loans under a new Treasury plan to shore up the housing market.
Source: Latest Business News from Times Online | 16 Nov 2008 | 12:00 am

Obama urges help for homeowners, auto industry

WASHINGTON (Reuters) - President-elect Barack Obama said struggling U.S. automakers need a government rescue, but help should be conditioned upon changes in the industry, according to excerpts from a TV interview to air on Sunday.

Source: Reuters: Business News | 15 Nov 2008 | 11:39 pm

Obama urges help for homeowners, auto industry (Reuters)

Reuters - President-elect Barack Obama said struggling U.S. automakers need a government rescue, but help should be conditioned upon changes in the industry, according to excerpts from a TV interview to air on Sunday.

Source: Yahoo! News: Business | 15 Nov 2008 | 11:39 pm

G20 source: Leaders to agree on action plan

World leaders today are ready to task finance ministers with drawing up recommendations for improving the regulation and functioning of financial markets, according to a G20 official reading from a draft...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 15 Nov 2008 | 11:06 pm

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