Stocks end sharply higher as deal to help automakers takes shape
U.S. stocks climb, with the Dow Jones Industrial Average closing at
its highest level in a month, as investors cheer President-elect
Barack Obama's pledge of massive infrastructure investment and a
likely deal for the auto industry.
TRIBUNE CO. FILES FOR BANKRUPTCY; CUBS FRANCHISE NOT IN FILING
The media company files for bankruptcy protection to restructure its
nearly $13 billion debt load, a move that dramatically underscores the
dire circumstances clouding the near-term future of the newspaper
industry.
DEAL SEEN ON AID FOR AUTOMAKERS BY END OF DAY
A deal on as much as $17 billion in loans for the struggling Big Three
automakers is likely by the end of the day, according to the White
House and a top Democratic lawmaker.
3M LOWERS FULL-YEAR OUTLOOK, CUTS 1,800 JOBS
The St. Paul, Minn.-based maker of office, display graphics and
industrial products slashes its full-year forecast following a sharp
sales decline, and is reducing its workforce by nearly 2%.
ANALYST SAYS GOOGLE, SEARCH ADS FACE TOUGH QUARTER
Internet search, which has so far served as a dependable source of
growth for online advertising, could possibly see its first-ever
sequential decline in the first quarter of next year, according to a
Wall Street analyst.
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