Business News

• Asia stocks bounce back from 5-year low (Reuters) -

  Reuters - Asian stock markets rebounded from a five-year low on Friday as a variety of rumors such as China cutting interest rates later in the day prompted investors to cover short positions before the weekend.

  
  
• Democrats demand Big 3 offer survival plan (Reuters) -

  Reuters - Democratic congressional leaders, seeking to salvage a bailout of the Big Three automakers, demanded executives provide a business survival plan in exchange for their support of up to $25 billion in loans.

  
  
• Citigroup eyes options including merger (Reuters) -

  Reuters - Citigroup Inc lost more than one-quarter of its market value on growing worries over whether it has enough capital to withstand billions of dollars of potential losses and despite new support from its largest individual investor.

  
  
• Fannie Mae, Freddie Mac suspend some foreclosures (Reuters) -

  Reuters - Fannie Mae and Freddie Mac, the two biggest U.S. home loan finance companies, on Thursday said they would suspend foreclosures of occupied homes until early 2009, as the government moves to stem the tide of home losses plaguing the economy.

  
  
• Dell sees China sales down (Reuters) - Reuters - Dell Inc's sales in China slowed last quarter, but Beijing's economic stimulus measures are likely to boost technology spending, the world's No. 2 personal computer maker said on Friday.
• World stocks dive as panic spreads (AFP) -

  AFP - Panic spread in global stock markets Thursday as a jump in US jobless figures and fresh job cuts worldwide deepened fears of recession and sent investors fleeing for cover.

  
  
• Fannie Mae, Freddie Mac suspend some foreclosures (Reuters) -

  Reuters - Fannie Mae and Freddie Mac, the two biggest U.S. home loan finance companies, on Thursday said they would suspend foreclosures of occupied homes until early 2009, as the government moves to stem the tide of home losses plaguing the economy.

  
  
• British retailers discount to lure shoppers (AP) -

  AP - Britain's top retailers are hoping unusual pre-Christmas discounts can convince consumers to open their wallets during a holiday season that coincides with a looming recession.

  
  

Entertainment News

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