Venezuela, Russia create $4b development bank: Caracas: Venezuelan and Russian officials have agreed to create a $4 billion joint development bank to finance gas production, aluminium mining and other projects, Venezuela's information ministry said on Saturday.
OPEC to cut supply in Dec if market unchanged - Iran: OPEC will cut oil output again if the trend towards lower prices and slowing demand growth are unchanged when the group meets in December, Iran's OPEC Governor Mohammad Ali Khatibi told Reuters on Sunday.
China okays $586 bln spending plan to bolster growth: By comparison, the United States sent out about $100 billion in tax rebate cheques this summer, while Germany last week agreed to a 50 billion euro pump-priming plan.
Help out automakers, Capitol Hill leaders say: Unless the government steps in, analysts warned, GM could face bankruptcy, endangering the livelihoods of about 100,000 North American autoworkers and hundreds of thousands of others whose jobs depend on the industry.
Worst retail sales trend since 1974 expected: "October will prove to be a disaster for retail sales, with only the discounters having anything to cheer about," wrote Avery Shenfeld, an economist for CIBC World Markets.
Dismal economic news — and it's certain to get worse: Friday's dismal news that the unemployment rate rose to 6.5 percent and employers shed another 240,000 jobs in October made it clear that the U.S. economy is now in recession.
Just 3 ‘superbanks’ now dominate industry: Sudden consolidation raises questions about regulation, consumer impact
States face unemployment cash crisis: Rising unemployment drains state trust funds, forcing them to borrow from Washington to continue paying claims.
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