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U.S. working on affordable mortgage plan: sources (Reuters)

03-12-2008 18:38

Reuters - The Treasury Department is developing a plan to try to reduce mortgage rates on home loans to 4.5 percent on a 30-year mortgage by making fresh investments in those assets, sources familiar with the plan said on Wednesday.

Congress briefed by auto companies on revamp plans (Reuters)

03-12-2008 18:20

Chrysler assembly worker Leroy Feltz works on a 2009 Jeep Wrangler at the Toledo Supplier Park Jeep plant in Toledo, Ohio December 3, 2008. (Rebecca Cook/Reuters)Reuters - The chief executives of the major U.S. auto companies prepared on Wednesday for make-or-break congressional hearings on their request for $34 billion in government bailout loans, while lawmakers considered options including one or more of the Detroit Three going bankrupt.

Financial industry pushes for lower mortgage rates (AP)

03-12-2008 17:37

AP - Financial industry lobbyists are urging the Treasury Department to take steps to lower mortgage rates in an effort to stabilize the housing market.

Wall Street jumps on Coke and other defensive plays (Reuters)

03-12-2008 17:10

Trading specialists work on the floor of the New York Stock Exchange, December 3, 2008. (Chip East/Reuters)Reuters - Stocks rose for a second day on Wednesday as investors flocked to shares of Coke and other companies that hold up well in recessions following another round of disappointing economic data and corporate outlooks.

Wall Street surges on Coke and other defensive plays (Reuters)

03-12-2008 16:45

Trading specialists work on the floor of the New York Stock Exchange, December 3, 2008. (Chip East/Reuters)Reuters - Stocks rose for a second day on Wednesday as investors flocked to shares of Coke and other companies that hold up well in recessions following another round of disappointing economic data and corporate outlooks.

Paulson said weighing bailout's next $350 billion (Reuters)

03-12-2008 15:45

Treasury Secretary Henry Paulson speaks at a news conference at the Treasury Department in Washington, November 25, 2008. (Jason Reed/Reuters)Reuters - Treasury Secretary Henry Paulson is weighing whether to ask Congress for the remaining $350 billion of the financial bailout fund, with White House aides approaching President-elect Barack Obama's transition team about the idea, an Obama aide said on Wednesday.

"Bottom's been made" in stocks: Legg Mason's Miller (Reuters)

03-12-2008 15:16

Reuters - Legg Mason's Bill Miller, a celebrated investor whose stock picking is far off the mark this year, said on Wednesday the "bottom has been made" in U.S. equities.

Cyber Monday spending rises 15 percent: comScore (Reuters)

03-12-2008 15:14

Reuters - Online retail spending rose 15 percent on the all-important Monday after Thanksgiving from a year earlier, sounding a positive note in an otherwise bleak holiday season.

Private jobs, services slump show recession toll (Reuters)

03-12-2008 14:54

A man walks past a store advertising a sale, on 'Black Friday' in Fairfax, Virginia, November 28, 2008. (Larry Downing/Reuters)Reuters - Private employers cut 250,000 jobs in November, an unexpectedly large number and the biggest in seven years, while the service sector, which powers most of the economy, posted its worst slump on record.

All options on table as Congress reviews autos bailout (Reuters)

03-12-2008 14:51

An employee works on a 2009 Ford F-150 on the assembly line at Ford's Kansas City Assembly Plant in Claycomo, Missouri, October 2, 2008. (Sam VarnHagen/Ford/Handout/Reuters)Reuters - All options were on the table on Wednesday as congressional committees scrutinized auto company restructuring proposals and an urgent appeal for $34 billion in aid ahead of make-or-break hearings.

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