Russia to build nuclear reactor for Venezuela: Russia's deepening strategic partnership with Venezuela took a dramatic step forward yesterday when it emerged that Moscow has agreed to build Venezuela's first ever nuclear reactor.
Paulson resists Democrats' call to rescue homeowners: Having committed about half of the existing $700-billion rescue fund to ease Wall Street's credit crunch, Paulson said he had no plans to spend the rest, even on the root cause of the crisis -- soaring mortgage foreclosures
October consumer prices and home starts plummet: Consumer prices dropped at the fastest rate on record in October. - The Commerce Department said new-home starts fell 4.5 percent last month to a seasonally adjusted annual rate of 791,000 units and building permits -- which signal future building intentions -- dropped 12 percent to 708,000.
Home Prices Tumble in 80 Percent of U.S. Cities : The median price of a U.S. home declined 9 percent from a year earlier and sales of properties with mortgages in default accounted for at least a third of all transactions, the Chicago- based National Association of Realtors said today
U.S. MBA’s Mortgage Applications Index Decreased 6.2% Last Week: Mortgage applications in the U.S. dropped last week as demand for home-purchase financing slumped to an almost eight-year low.
Detroit Chiefs Plead for Aid: Senate Democratic leaders said they had not been able to muster the support for legislation that would provide $25 billion to the troubled auto industry from the Treasury Department’s $700 billion economic rescue fund.
Senate Republicans drafting alternative $25 billion aid: The Bush Administration has sent language to Capitol Hill for an alternative auto aid package that would drop the fuel-efficiency requirements for the $25 billion retooling program for automakers.
GM to invest 1 bln dollars in Brazil: The investment was part of a U.S. bailout package and would be used to upgrade car production lines before 2012, said Djame Adila, a GM's official in charge of the markets in Brazil and other member-countries of the South American Common Market which also groups Argentina, Paraguay, Uruguay and Venezuela.
Cash-starved Ford sells Mazda stake: Struggling US car manufacturer Ford is to sell its controlling stake in Japanese firm Mazda in a bid to raise cash and stay afloat. Ford is to sell about two-thirds of its 33.4 per cent stake for around $538m to Mazda and more than 20 undisclosed Mazda business partners.
China Passes Japan as Biggest U.S. Treasuries Holder: China led all foreign official investors in September by posting a net increase in U.S. Treasuries for the sixth month in the past seven, bringing its total ownership close to $600 billion. Japan was a net seller of Treasuries for the fourth month in the past six.
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