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Business News

Four senators reach bipartisan auto aid deal (Reuters)

A General Motors car dealership is seen in Roslyn, New York November 19, 2008. (Shannon Stapleton/Reuters)Reuters - Four senators have reached a bipartisan agreement on a bill to assist the struggling automotive industry, the lawmakers announced in a joint statement on Thursday.


GM, Ford shares soar on bailout optimism (Reuters)

General Motors Corp.'s world headquarters is seen along the Detroit River in Detroit, Michigan November, 18, 2008. (Rebecca Cook/Reuters)Reuters - Shares of General Motors and Ford Motor Co soared on Thursday after a Senate Democratic aide said senators had reached agreement on a bipartisan auto aid deal.


Stocks gain on auto deal optimism (Reuters)

A share trader reacts while checking share prices in front of the German share price index DAX board at the German stock exchange in Frankfurt, November 20, 2008. (Kai Pfaffenbach/Reuters)Reuters - Stocks advanced on Thursday after a Senate Democratic aide said senators reached a bipartisan agreement on aid for automakers.


Citigroup shares tumble further despite Alwaleed move (Reuters)

Saudi billionaire Prince Alwaleed bin Talal in a file photo. (Ahmed Jadallah/Reuters)Reuters - Citigroup Inc lost as much as a quarter of its market value Thursday as mushrooming worries about whether the bank has enough capital to withstand billions of dollars of additional loan losses outweighed new support from its largest individual investor.


JPMorgan cuts investment banking jobs: sources (Reuters) Reuters - JPMorgan Chase & Co is cutting about 10 percent of its investment banking staff as the credit crunch and slowdown in the economy bite into bank earnings, people familiar with the situation said on Thursday.