The News Review:
- Auto bailout crash stokes fears of deeper recession
- Asian Markets Sink on Auto Bailout Collapse
- Saab Welcomes Sweden’s SEK28 Billion Auto Industry Measures
- Wall Street tumbles as auto bailout stalls in Senate
- Auto Suppliers Share in the Anxiety
Auto bailout crash stokes fears of deeper recession
Reuters
Any failure or bankruptcy of General Motors Corp Ford Motor Co or Chrysler LLC could cost tens of thousands of jobs hit credit markets and disrupt the auto industry’s global supply chain economists said on Friday. Financial market reaction to the plan’s collapse was swift brutal and broad with the dollar Asian stocks and commodity prices tumbling. “If any one of them fails it will create an endless vicious circle in the global economy as the auto sector hires so many and there are so many industries that rely on the sector” said Kim Jae-eun economist at Hana Daetoo Securities in Seoul. “That will incapacitate all worldwide efforts including hefty interest rate cuts and massive fiscal spending to revive the economy” she added. Late on Thursday the U. Senate failed to agree a $14 billion rescue package after weeks of debate.
Related from Work-at-home-business-zone: Unemployment Mtge Data Suggest Deeper Consumer Credit Losses
Asian Markets Sink on Auto Bailout Collapse
New York Times United States
currency slumped to a 13-year low at Y88. 10 the wake of the U. The dollar remained weak in Europe and stood at 90.
Saab Welcomes Sweden’s SEK28 Billion Auto Industry Measures
CNNMoney.com
(GM) Friday said it welcomed measures by the Swedishgovernment to boost spending on research and development. “It’s very positive for Saab. Sweden has a competitive advantage in researchand production techniques and this will strengthen knowledge technology” saidSaab spokesman Eric Geers. Sweden Thursday announced 28 billion Swedish kronor ($3.
science news
Wall Street tumbles as auto bailout stalls in Senate
Chicago Tribune United States
“What’s going to happen in the Senate is really weighing on the market in a big way” said Robert Froehlich chief investment strategist for DWS Investments. He contends that an auto-bailout failure would trigger a reaction similar to what occurred when the government’s financial sector. The Dow tumbled 777 points on Sept. 29 as the plan failed in the first House vote.
officemax coupon
Auto Suppliers Share in the Anxiety
New York Times United States
As a result the hypotheticals about the domino effect of the companies’ troubles through the vast network of auto supplier firms — which employ more than twice as many workers as the carmakers — are becoming real. General Motors and Chrysler for example owe their suppliers a total of roughly $10 billion for parts that have been delivered.