GM may need $30 billion government loan to survive »
NEW YORK (Reuters) - The U.S. government may need to lend General Motors Corp (GM.N: Quote) around $30 billion to help the automaker operate through a bankruptcy, or risk a systemic chain of failures in the auto industry, Bank of America said. The Bush administration said on Friday it could be willing to provide emergency aid...
Budget talks show signs of political thaw »
TORONTO (Reuters) - Canada’s main opposition Liberal Party struck a more conciliatory tone on Monday about co-operating with the Conservative government after legislators from both parties met to address concerns on the state of the country’s finances and fiscal plans. Liberals Scott Brison and John McCallum met in Toronto with Finance Minister Jim Flaherty for about...
Auto bailout could be announced by Wednesday »
WASHINGTON (Reuters) - The Bush administration could act as early as Wednesday to approve an automaker bailout from its bank rescue fund, with conditions likely to reflect at least those approved by the U.S. House of Representatives last week, key lawmakers and other sources said on Monday. A Treasury Department official said the agency and auto...
Tata Consultancy not too worried by US auto »
MUMBAI (Reuters) - Tata Consultancy Services, India’s top outsourcer, is not too worried about the impact on its business from the failure of the $14 billion U.S. auto bailout package. “We are not unduly worried about it at this time,” CEO S. Ramadorai told reporters at an industry conference, even though he said the exposure of...
Arun Sarin being considered for Yahoo top job - WSJ »
Reuters - The former chief executive of Vodafone Group Plc, Arun Sarin, is among those being considered by board members at Yahoo Inc to take the top job at the internet firm, the Wall Street Journal said, citing people familiar with the matter. Yahoo’s directors are moving closer to a recommendation and have authorized checking references...
Sony to cut 8,000 jobs, slash $1.1 bln in costs »
TOKYO (Reuters) - Japan’s Sony Corp said it will slash about 4 percent of its workforce, scale back investments and pull out of businesses as it aims to cut $1.1 billion in costs out of its ailing electronics operations. The 8,000 job cuts — the biggest announced by an Asian firm so far in the financial...
Japan recession gloom deepens; U.S. seeks auto deal »
HONG KONG (Reuters) - Japan sank deeper into recession than previously thought and is reportedly mulling $216 billion in new stimulus spending to fend off the global financial crisis, while the United States worked towards a rescue package for its battered auto makers. In Australia, No.2 lender Westpac said on Tuesday it was raising $1.7 billion...
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