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European summit works on "ambitious" crisis plan
Source:Reuters: Business News 12 October 2008, 8:26 am
PARIS/WASHINGTON (Reuters) - European leaders hoped to agree on a detailed plan in Paris on Sunday to prevent market panic and stave off what the International Monetary Fund warned could be a global financial meltdown.
Financial markets near complete freeze
Source:Reuters: Business News 12 October 2008, 8:06 am
LONDON (Reuters) - Investors will be seeing this week whether policymakers found a way to pull markets away from a deeper collapse as global capital markets faced complete freeze-up.
Bankruptcy financing gets pricier and more elusive
Source:Reuters: Business News 12 October 2008, 7:04 am
NEW YORK (Reuters) - Financing is getting pricier and more elusive for companies that file for bankruptcy.
Chrysler, GM have merger talks: sources
Source:Reuters: Business News 12 October 2008, 6:44 am
DETROIT/NEW YORK (Reuters) - Chrysler LLC has had talks with General Motors Corp about a deal to combine the No. 1 and No. 3 American automakers at a time when both are struggling to cut costs and shore up cash, according to three people familiar with the matter.
Hyundai may make small car in U.S. :officials
Source:Reuters: Business News 12 October 2008, 6:03 am
SEOUL (Reuters) - Hyundai Motor Co , South Korea's top automaker, is considering making a small car in the United States as the financial crisis has lifted demand for such models, officials at the company and a car parts maker said on Sunday.
China vows stable growth in face of global turmoil
Source:Reuters: Business News 12 October 2008, 5:56 am
BEIJING (Reuters) - China will maintain flexible and prudent macro-economic policies and seek to expand domestic demand in the face of a grim international economic environment, the country's ruling Communist Party said on Sunday.
Iran to study all factors before proposing oil cut
Source:Reuters: Business News 12 October 2008, 3:20 am
DUBAI (Reuters) - Iran says the recent steep slide in oil prices and worsening global financial crisis will be studied carefully before it makes a proposal on output reductions for OPEC, the Islamic Republic's OPEC governor said on Sunday.
Wealth funds, recipients adopt investing principles
Source:Reuters: Business News 11 October 2008, 4:27 pm
WASHINGTON (Reuters) - Government-owned wealth funds and the countries that accept their investments agreed on Saturday to a set of principles aimed at ensuring that both sides play by the rules.
AIG's gallows humor gives bankers a laugh
Source:Reuters: Business News 11 October 2008, 1:52 pm
WASHINGTON (Reuters) - Insurance giant American International Group, on the receiving end of a multi-billion dollar bailout from the Federal Reserve, was trying hard on Saturday to look on the bright side of life.
Italy to push for broader G7 membership
Source:Reuters: Business News 11 October 2008, 1:50 pm
WASHINGTON (Reuters) - Italy will push for broadening membership in the Group of Seven when it takes over leading the rich nations' club next year, Italian Economy Minister Giulio Tremonti pledged on Saturday.