Monday, December 08, 2008
Stocks end sharply higher as deal to help automakers takes shape
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.
