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Senate negotiators sought to craft a compromise plan to bail out US auto makers, though prospects for a deal before Congress adjourns for the year still appeared remote.
The Dow tumbled on Wednesday closing below the psychologically important 8,000 level for the first time since March 2003.
Stocks plunged to a more than five-year low amid worries about the fate of the auto industry — and the economy — as a bailout for the sector grows increasingly unlikely.
If Congress turns its back on the Big Three auto makers—as many expect—investors probably won't drive the stock market off a cliff.
When it comes to the auto industry, there are more than just millions of auto-related jobs on the line. Billions of dollars in advertising—arguably the cornerstone of the industry—is at stake.
The flight into Treasuries, as well as the fact that credit default swap spreads are widening, is causing broad weakness in the stock market. .
Stocks declined Tuesday amid worries about the fate of the auto industry as a bailout grows increasingly unlikely.
An appeal for money from the Big Three is certainly generating a lot of interest among Fast Money's audience. What do you have to say?
Luxury automaker Lexus will be moving ahead as planned with its USGA and USTA sponsorships for 2009. Lexus spokeswoman Nancy Hubbell tells me the company is committed to its golf and tennis promotional activities for next year.
Stocks opened mixed Tuesday as a pop in commodities and sharp drop in consumer prices briefly offset worries that Congress won't bail out auto makers.
What happens if the auto industry doesn't get a government bailout?
To say law makers are skeptical about whether it makes sense to help out Detroit would be an understatement. The Big 3 and the UAW have failed to sell Congress on why they should help the auto industry.
The bet is that some small amount of money will be given to the auto makers now, enough to serve as some type of bridge loan into early 2009. At that point the Democrats will have the political leverage to develop a broader rescue package in the first weeks of February.
The Consumer Price Index had its biggest one month drop ever. Here is a breakdown of the inflation benchmark to show you where costs are falling most.
There are ‘stock’ people and there are ‘bond’ people. I am a stock person and have been all my life. It suits my personality because stock people are optimists. We see the glass as half full.
Stock index futures pared their losses Tuesday after a report showed consumer prices posted their biggest decline in 61 years.
Do Chinese automakers need a bailout? China's auto industry is quietly pressing Beijing for government help as it copes with a jarring slowdown, top Chinese auto executives tell the New York Times.
Consumer inflation data, more retailers' earnings, and another day of auto executives on Capitol Hill are on tap for Wednesday.
"I don’t see what’s in the history of the automakers that leads anyone to believe that a $25 billion dollar loan isn’t just throwing good money after bad," says Karen Finerman. Agree?
After several false starts, stocks pulled off a final-hour rally, boosted by a better-than-expected forecast from Hewlett-Packard.