GM, Chrysler considering bankruptcy to get bailout: report (Reuters)
posted on December 04, 2008 12:37:18 am

Reuters - General Motors Corp and Chrysler LLC are considering accepting a pre-arranged bankruptcy as the last-resort price of getting a multi billion dollar government bailout, Bloomberg reported, citing a person familiar with internal discussions.

Wall Street jumps on Coke and other defensive plays (Reuters)
posted on December 03, 2008 05:10:22 pm

Reuters - Stocks rose for a second day on Wednesday as investors flocked to shares of Coke and other companies that hold up well in recessions following another round of disappointing economic data and corporate outlooks.

Private jobs, services slump show recession toll (Reuters)
posted on December 03, 2008 04:41:54 pm

Reuters - Private employers cut 250,000 jobs in November, an unexpectedly large number and the biggest in seven years, while the service sector, which powers most of the economy, posted its worst slump on record.

Oil falls below $46 near four year lows (Reuters)
posted on December 03, 2008 10:05:14 pm

Reuters - Oil fell below $46 a barrel to near four-year lows on Thursday, extending four consecutive days of falls as continued demand worries minimized bullish draws in U.S. oil stocks.

Europe poised to cut rates as global slump deepens (Reuters)
posted on December 03, 2008 11:18:19 pm

Reuters - Central banks in Europe are poised to slash interest rates on Thursday to try to contain a global economic slump that appears to be spreading faster than policy makers in the industrialized countries had anticipated.

Gulf stocks higher in quiet pre-holiday trading (AFP)
posted on December 03, 2008 08:44:05 am

AFP - Stock markets in the Gulf region closed higher on Wednesday in very quiet trading as investors began preparing for a long Muslim holiday ending in Eid Al-Adha.

U.S. working on affordable mortgage plan: sources (Reuters)
posted on December 03, 2008 08:01:49 pm
Reuters - The Treasury Department is developing a plan to try to reduce mortgage rates on home loans to 4.5 percent on typical mortgages by expanding its purchases of mortgage backed securities, sources familiar with the plan said on Wednesday.

Financial industry pushes for lower mortgage rates (AP)
posted on December 03, 2008 07:24:14 pm
AP - Financial industry lobbyists are urging the Treasury Department to take steps to lower mortgage rates and help stabilize the battered U.S. housing market.

Online retailers see surge on 'Cyber Monday' (AP)
posted on December 03, 2008 03:50:45 pm

AP - Like their counterparts at the malls, online merchants finally got some relief with the unofficial start of the holiday shopping season, spurred by a bevy of deals and free shipping offers. But the stronger-than-expected bump in online sales Monday couldn't cancel out a lackluster November.