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This Iowa debt consolidation program will be focused on completely
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AP - General Motors Corp. said Tuesday it needs $12 billion in government loans to keep operating, telling Congress in a bluntly worded report that its collapse could have "severe, long-term consequences to the U.S. economy."
AP - U.S. light vehicle sales at General Motors and Chrysler plunged more than 40 percent in November, while Ford's sales dropped 31 percent, battered by an economic storm that has sent consumer demand for new vehicles to the lowest level in more than 26 years.
AP - Treasury Secretary Henry Paulson, preparing for his final round of economic talks with China, said Tuesday that Beijing must keep letting its currency rise in value against the dollar to help ease trade tensions with the United States.
Reuters - Tiffany & Co offered voluntary retirement incentives to about 800 U.S. employees, as the upscale jeweler grapples with an economic downturn that has led its affluent customers to cut spending.
AFP - Governors of more than 40 cash-strapped US states Tuesday pressed president-elect Barack Obama for a hefty helping of his planned multi-billion dollar economic kick-start plan.
AP - Sgt. Ryan Nyhus spent 14 months patrolling the deadly streets of Baghdad, where five members of his platoon were shot and one died. As bad as that was, he would rather go back there than take his chances in this brutal job market.
Reuters - President-elect Barack Obama on Tuesday pledged to help state governors cope with a deepening recession and asked them to help craft a massive stimulus package to create jobs and tackle the crumbling economy.
Reuters - The auto industry reeled from further sales declines in the United States as a slowdown that began there showed signs of spreading to Europe, Asia and Africa, forcing automakers to slash production.
Reuters - The Federal Reserve has ample tools to use to stimulate the economy even with interest rates nearing zero, the head of the St. Louis Federal Reserve Bank said on Tuesday.
Reuters - U.S. credit card write-offs will continue to increase in 2009, tracking roughly with the rising unemployment rate, the top executive at Discover Financial Services said on Tuesday.
Reuters - Delta Air Lines , which downsized and bought a rival carrier this year, said on Tuesday it would trim 6 percent to 8 percent of its capacity in 2009 as travel demand wanes.
AP - Brazilian industrial production fell in October as the global financial meltdown sent shock waves through Latin America's largest economy, the government said Tuesday.
Reuters - General Electric Co said on Tuesday it plans to scale back its hefty finance arm and repeated that it will pay its regular dividend next year, sending shares up 13.6 percent, their biggest one-day percentage gain in more than a quarter century.
AFP - US Treasury Secretary Henry Paulson urged China Tuesday to keep its currency flexible and to wean itself from export-led growth in its bid to achieve "balanced" economic expansion despite global financial turmoil.
AFP - European and US stocks rose on Tuesday in a technical rebound after very heavy losses the previous day as concerns mounted that the global economy faces a long and painful recession.
Reuters - Sears Holdings Corp reported a wider-than-expected quarterly loss on Tuesday as the weak economy hurt sales, but announced that it was closing underperforming stores and its shares rose 16 percent.
AFP - Delta Air Lines, the new number-one US airline, said Tuesday it would reduce capacity by six to eight percent next year to cope with the global economic slowdown and falling passenger demand.
AFP - The global economic crisis swept on to another watershed on Tuesday with EU ministers targeting a huge spending boost, stocks gyrating, the US in recession and central banks looking for new rescue routes.
AP - European Union finance ministers on Tuesday endorsed a public spending plan that would pump euro200 billion ($252 billion) over two years to boost an economy that has fallen into recession.
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