Business Guide & News Update

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.

Reuters - European and Asian shares managed to rise and oil rose toward $50 on Friday as expectations of further interest rate cuts helped to cushion deepening gloom about the financial and auto sectors as well as the broader economy.

Reuters - A 6 percent fall in Asia pushed world stocks to their lowest in 5- years on Thursday, while oil fell below $53 and safe havens such as the yen gained on fears the global recession and a financial crisis will get uglier.

Reuters - The U.S. financial system still needs at least $1 trillion to $1.2 trillion of tangible common equity to restore confidence and improve liquidity in the credit markets, Friedman Billings Ramsey analyst Paul Miller said.

Reuters - Reeling from a relentless sales slide, Toyota Motor Corp (7203.T) said on Wednesday it would stop all of its North American factories for two days next month, while rival Nissan Motor Co (7201.T) renewed its pessimism over the industry’s near-term prospects.