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Latest news for Energy and Utilities

U.S. firms up plan to buy into banks to stem crisis (Reuters)

11-10-2008 03:31

U.S. Treasury Secretary Henry Paulson gestures during his news conference after the G7 Ministerial meeting in Washington October 10, 2008. The world's rich nations vowed on Friday to take all necessary steps to unfreeze credit markets and ensure banks can raise money but they offered no collective course of action to avert a deep global recession. (Yuri Gripas/Reuters)Reuters - The U.S. government pushed on Saturday to finish a plan to buy direct stakes in American banks as finance ministers from around the world struggled to find ways to stop the deepening financial crisis and shore up markets.

Ford plans to sell Mazda shares: source (Reuters)

11-10-2008 01:30

Reuters - Ford Motor Co is considering selling its stake in Japan's Mazda Motor Co (7261.T), a source familiar with the matter said on Saturday, as debt-laden U.S. automakers struggle with weakening auto sales and the global credit crunch.

GM, Chrysler in merger talks: source (Reuters)

11-10-2008 01:14

General Motors Corp Headquarters is seen along the Detroit River in Detroit, Michigan September 17, 2008. (Rebecca Cook/Reuters)Reuters - General Motors has had talks with smaller rival Chrysler LLC about a merger that would combine the No. 1 and No. 3 American automakers at a time when both are struggling to cut costs and shore up cash, according to a source briefed on the matter.

Ford plans to sell most of stake in Mazda: report (Reuters)

11-10-2008 00:31

Reuters - Ford Motor Co plans to sell most of its stake in Japan's Mazda Motor Co (7261.T), Japanese public broadcaster NHK said on Saturday, in a deal that could see the struggling U.S. automaker raise around $800 million.

General Motors, Chrysler in merger talks: NY Times (Reuters)

10-10-2008 22:56

General Motors Corp Headquarters is seen along the Detroit River in Detroit, Michigan September 17, 2008. (Rebecca Cook/Reuters)Reuters - General Motors is in preliminary talks about a possible merger with fellow U.S. automaker Chrysler, The New York Times reported late on Friday.

General Motors, Chrysler in merger talks: report (Reuters)

10-10-2008 22:24

Reuters - General Motors is in preliminary talks about a possible merger with Chrysler, The New York Times reported late on Friday.

Two small banks fail; brings 2008 tally to 15 (Reuters)

10-10-2008 22:01

Reuters - U.S. regulators took over two small banks on Friday, in Michigan and Illinois, bringing the tally of bank failures to 15 so far this year.

Paulson says U.S. planning to buy financial equity (Reuters)

10-10-2008 21:51

U.S. Treasury Secretary Henry Paulson speaks at a news conference after the G7 Ministerial meeting in Washington October 10, 2008. The world's rich nations vowed on Friday to take all necessary steps to unfreeze credit markets and ensure banks can raise money but they offered no collective course of action to avert a deep global recession. (Yuri Gripas/Reuters)Reuters - The United States is developing plans to buy equity stakes in financial institutions, providing another weapon in its war against financial market turmoil, U.S. Treasury Secretary Henry Paulson said on Friday.

U.S. planning to buy equity in financial institutions (Reuters)

10-10-2008 19:11

U.S. Treasury Secretary Henry Paulson addresses a news conference in Washington, October 8, 2008. Paulson on Wednesday urged intensified global cooperation to stabilize financial markets and said countries must be careful not to harm one another while they guard their own interests. (Mitch Dumke/Reuters)Reuters - Treasury Secretary Henry Paulson said on Friday the United States was developing plans to buy equity in financial institutions if necessary to halt market turmoil.

Two small banks fail; brings year's tally to 15 (Reuters)

10-10-2008 18:49

Reuters - U.S. regulators took over two small banks on Friday, in Michigan and Illinois, bringing the tally of bank failures to 15 so far this year.

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