| Stocks sink over 4 percent on bank plan apprehension
February 10, 2009 at 8:24 pm
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| NEW YORK (Reuters) - Stocks tumbled more than 4 percent on Tuesday as investors pummeled bank shares on concerns a reworked plan to shore up the financial sector may not be enough to thaw credit markets and alleviate the deepening recession. |
| Haggling begins on final U.S. stimulus plan
February 10, 2009 at 8:22 pm
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| WASHINGTON (Reuters) - U.S. lawmakers began haggling in earnest over a final package of tax cuts and spending on Tuesday after the Senate passed its $838 billion version of a rescue plan to fight the deepening recession. |
| Sirius preparing possible bankruptcy filing: report
February 10, 2009 at 8:09 pm
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| NEW YORK (Reuters) - Sirius XM Radio Inc has been working with its advisers to prepare for a possible bankruptcy filing, the New York Times reported on its website on Tuesday, citing people close to the company. |
| February feels a lot like January for GM sales
February 10, 2009 at 7:16 pm
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| CHICAGO (Reuters) - The head of Chevrolet's North American unit said on Tuesday that February auto sales were about the same as January, which was the industry's worst month in 27 years. |
| U.S. senator: GM to meet restructuring plan date
February 10, 2009 at 6:13 pm
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| WASHINGTON (Reuters) - General Motors Corp CEO Rick Wagoner met congressional allies and other key members on Tuesday and one senior Democratic senator said the automaker was making progress on a government-required restructuring plan and will meet next week's deadline for submitting it. |
| AIG in talks to sell auto unit to Zurich: source
February 10, 2009 at 6:11 pm
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| NEW YORK (Reuters) - American International Group is in advanced talks to sell its U.S. auto insurance unit to Swiss insurer Zurich Financial Services AG , a source familiar with the matter said on Tuesday. |
| Oil falls 5 percent on demand, U.S. stimulus concerns
February 10, 2009 at 5:25 pm
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| NEW YORK (Reuters) - Oil prices fell 5 percent on Tuesday to below $38 a barrel after the U.S. government revised its oil demand forecasts lower and on concerns the U.S. stimulus plan unveiled by the Obama administration will not stem the recession. |
| Bernanke says Fed actions easing strains
February 10, 2009 at 1:38 pm
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| WASHINGTON (Reuters) - The Federal Reserve believes an array of extraordinary programs aimed at stabilizing credit and banking have improved market conditions and eased strains despite a drumbeat of negative economic news, Fed Chairman Ben Bernanke said on Tuesday. |
| Wall Street tumbles on bank plan misgivings
February 10, 2009 at 1:32 pm
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| NEW YORK (Reuters) - Stocks tumbled 3 percent on Tuesday as bank shares slid on concerns that a plan to shore up the financial sector unveiled by Treasury Secretary Timothy Geithner may not be enough to loosen up credit and contain the deepening recession. |
| GM to cut 10,000 salaried jobs
February 10, 2009 at 1:29 pm
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| DETROIT (Reuters) - General Motors Corp will slash its global salaried work force by about 10,000, or 14 percent, this year and impose pay cuts on most remaining white-collar U.S. workers as it scrambles to reduce costs under a restructuring mandated by its U.S. government bailout. |
| Wal-Mart cutting jobs at home offices
February 10, 2009 at 1:11 pm
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| NEW YORK (Reuters) - Wal-Mart Stores Inc is cutting 700 to 800 jobs at its Wal-Mart and Sam's Club home offices as the world's largest retailer looks to realign its corporate structure and reduce costs. |
| Senate passes stimulus bill, sets up final talks
February 10, 2009 at 1:05 pm
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| WASHINGTON (Reuters) - The Senate approved an $838 billion economic rescue plan on Tuesday, setting the stage for tough haggling this week over the final package of tax cuts and spending aimed at averting a deeper recession. |
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