Date: Mon, Nov 3, 2008 at 12:04 PM
U.S. government to borrow $550 billion over 3 months to support economic rescue plans.
Johnhan brings you news
Oil settles down $3.90 at $63.91 a barrel.
Canadian stocks vacillate, as higher gold prices push the metals and
materials sectors higher but falling crude-oil prices pressure energy
companies.
VeraSun Energy's bankruptcy marks the latest chapter in a
boom-and-bust story written by the largest publicly traded,
stand-alone ethanol producer in the U.S., as the biofuels business
endures growing pains under a government mandate to boost production
significantly in the next several years.
General Motors reports 45% drop in October auto sales.
U.S. stocks climb after vacillating in early trading as investors
digest data showing a decline in U.S. manufacturing activity during
October.
ECONOMIC REPORT: FACTORY OUTPUT WEAKEST IN 26 YEARS, ISM SURVEY SAYS
The nation's manufacturing firms reported the worst level of output in
26 years, further evidence that the economy is headed for a sharp
downturn, according to a closely followed survey of top executives.
TOP EUROPE BANKS OUTLINE WOES THAT LED TO FUNDING REQUESTS
Several top European banks on Monday detailed the strains from the
credit crisis, with Britain's Lloyds TSB and HBOS, France's Societe
Generale and Germany's Commerzbank each outlining the woes that led
them to take government cash.
CITI SAY CREDIT CARD LOSSES MAY HIT RECORD LEVELS IN 2009
Citigroup says it lost $1.4 billion in the third quarter from credit card
securitizations and that it expects such losses will continue, possibly
reaching record levels in 2009.
TALKS BETWEEN CHRYSLER AND RENAULT-NISSAN HALTED, REPORT SAYS
Talks between the Renault-Nissan alliance and Chrysler LLC owner
Cerberus Capital Management LP have halted, said the Detroit News
Saturday.
Crude-oil futures trade lower early Monday after gaining nearly 6%
last week, as traders continue to worry about the impact of a global
economic slowdown on energy demand.