The government gave GMAC Financial Services another $3.8 billion in cash and took a majority stake in the auto lender, aiming to stabilize the company as it struggles with big losses in its home mortgage unit.
Monthly archives for December, 2009
AP-GfK Poll: 2009 was bad for America, Americans (AP)
For all their differences, Americans largely agree on two things: 2009 was a lousy year for the nation, and 2010 is likely to be better. Nearly three-fourths of Americans think 2009 was a bad year for the country, which was rocked by job losses, home foreclosures and economic sickness.
GATA Sues Federal Reserve to Disclose Gold Market Intervention Records (Business Wire)
MANCHESTER, Connecticut—-The Gold Anti-Trust Action Committee Inc. today brought suit against the U.S. Federal Reserve Board, seeking a court order for disclosure of the central bank’s records of its surreptitious market intervention to suppress the monetary metal’s price.
Fitch Affirms DuPage County’s (IL) GOs at ‘AAA’ (Business Wire)
NEW YORK—-Fitch Ratings takes the following rating action on DuPage County, Illinois as part of its continuous surveillance effort:
Fight over drilling SW Colo. mountains in court (AP)
Opponents of a federally approved plan to drill dozens of natural gas wells in the HD Mountains in southwest Colorado are taking their fight to court.
Venezuelan economy shrinks nearly 3 percent (AP)
Venezuela’s economy shrank 2.9 percent this year as the key oil industry suffered a downturn, pulling the country into a recession for the first time since 2003.
Stocks mixed after manufacturing data (AP)
Stocks fluctuated in early trading Wednesday as good news on manufacturing helped offset a decline in commodities prices.
AP Source: Gov’t moves closer on fresh aid to GMAC (AP)
The government was moving ahead Wednesday on a fresh multibillion dollar cash infusion to stabilize auto financing company GMAC Financial Services, according to a person with knowledge of the matter.
Russia’s GDP up 1.9 pct in Q4 (AP)
Russia’s economy grew by 1.9 percent in the fourth quarter from the quarter before, the second straight quarterly increased, the Russian government reported Wednesday.
Japan stocks hammered by Japan Airlines worries (AP)
Japanese stocks ended the year on a downbeat note Wednesday as nervous investors continued to unload shares of struggling Japan Airlines Corp.