U.S. stocks plunged again Thursday to a five-year low as hopes dimmed that lawmakers could quickly put together an aid package for U.S. automakers.
U.S. stocks opened lower Thursday as investors worried that a possible failure by automakers to get a bailout would add to the economy's woes and as new data showed the number of new claims for jobless benefits was at its…
Congress returns to Washington Monday to convene a lame-duck session with the struggling auto industry as its first priority. Democrats want to use part of the $700 billion Wall Street bailout for emergency loans to help the Big Three carmakers.
Democrats continued to push for aid for struggling U.S. automakers, calling for Congress to act during its lame-duck session next week to give the industry a much-needed financial boost as it confronts weak sales and plummeting stock prices.
Global financial troubles worsened Tuesday as stocks fell in many markets and analysts grew more concerned that the worldwide economic downturn is deepening.
Amid record-high gas prices, a slumping economy and consumer jitters, U.S. auto sales plummeted in June, but General Motors managed to retain its No. 1 spot ahead of Toyota thanks, in part, to a six-day sale featuring zero-percent financing offers.
General Motors announced the closure of four truck and SUV plants in the U.S., Canada and Mexico Tuesday and said it may discontinue its Hummer brand as soaring fuel prices push a broad shift in the U.S. to smaller vehicles.
In a smaller move than in past months, the Federal Reserve cut a key interest rate by a quarter percentage point Wednesday in what could be the last in a line of reductions aimed at boosting an economy hit hard…
In an effort to stave off record losses, General Motors Corp. announced Tuesday it was offering a new round of buyouts to all 74,000 of its U.S. hourly workers represented by the United Auto Workers.
The United Auto Workers union ended its two-day strike on General Motors early Wednesday with a tentative deal that includes a health care plan funded by GM but managed by the union.
