US auto sales slump to 16-year low in July
DETROIT - U.S. auto sales slumped to a 16-year low in July as automakers failed to keep up with consumers' growing demand for smaller, more fuel-efficient vehicles. While production changes may help that problem, trouble in the credit and auto leasing markets will continue to take a toll on sales.
Nations:Canada Activities:2008 U.S. Automakers Downturn Source:(AP)
2008-08-01
S&P: Home prices drop by record 15.8 pct. in May
NEW YORK - Home prices tumbled by the steepest rate ever in May, according to a closely watched housing index released Tuesday, as the housing slump deepened nationwide.
Nations:U.S. Activities:2007 Global Credit Crunch Source:(AP)
2008-07-29
Stocks tumble after sales of existing homes fall
NEW YORK - Wall Street abruptly ended an earnings-driven rally and closed sharply lower Thursday after a steeper-than-expected decline in existing home sales and worries about the financial sector chilled the market's recent optimism. The major indexes fell about 2 percent, including the Dow Jones industrial average, which lost more than 280 points.
Nations:Germany Japan France Activities:U.S. Markets Source:(AP)
2008-07-24
Home sales at 10-year low, jobless claims jump
WASHINGTON (Reuters) - Jobless claims jumped and the pace of existing home sales tumbled to a 10-year low as slowing growth hit hiring and a glut of unsold houses weighed on real estate, data released on Thursday showed.
Nations:U.S. Activities:2007 Global Credit Crunch 2008 U.S. Recession Source:(Reuters)
2008-07-24
Merrill says GM bankruptcy possible
DETROIT (Reuters) - General Motors Corp (GM.N) will need to raise as much as $15 billion in cash to shore up liquidity and bankruptcy is "not impossible" if the U.S. auto market continues to slump, Merrill Lynch said.
Activities:2008 U.S. Automakers Downturn Source:(Reuters)
2008-07-02
General Motors holds off Toyota as June sales fall
DETROIT - General Motors Corp. soundly beat Toyota Motor Corp. in June to retain its traditional U.S. sales lead, but GM sales still dropped 18.2 percent during a dismal month for large automakers.
Activities:2008 U.S. Automakers Downturn Source:(AP)
2008-07-01
US foreclosure filings surge 48 percent in May
WASHINGTON - The number of U.S. homeowners swept up in the housing crisis rose further last month, with foreclosure filings up nearly 50 percent compared with a year earlier, a foreclosure listing company said Friday.
Nations:U.S. Activities:2007 Global Credit Crunch Source:(AP)
2008-06-13
Sandbagged levee holds in Iowa, protects city
CEDAR FALLS, Iowa - Residents were ordered to evacuate low-lying sections of towns along the overflowing Cedar River on Wednesday, and communities along the Mississippi River were warned that new rainfall would boost their expected flood crests.
Nations:U.S. Source:(AP)
2008-06-11
Flooding, heavy snow plague Midwest
Residents in this community along the Meramec River are crossing their fingers that the town's new earthen levee, built to withstand a 100-year flood, will pass its first big test.
Nations:U.S. Activities:2008 U.S. Midwest Flood
2008-03-22
Detroit had top foreclosure rate in '07
The Detroit area, hit hard by the double-whammy of unemployment and a slumping housing market, had the highest foreclosure rate in the nation last year, with several cities in California ranked close behind, an analysis of foreclosure activity in the country's largest 100 metropolitan areas shows.
Nations:U.S. Activities:2007 Global Credit Crunch
2008-02-13
GM posts biggest annual US auto loss
General Motors Corp. reported a $38.7 billion loss for 2007 on Tuesday, the largest annual loss ever for an automotive company, and said it is making a new round of buyout offers to U.S. hourly workers in hopes of replacing some of them with lower-paid help.
2008-02-12
Chrysler landmark deal stumbles in ratification votes
Chrysler LLC's landmark deal with the United Auto Workers is running into serious rank-and-file dissent, with large numbers of workers voting against ratifying the new four-year-contract, union sources said.
2007-10-22
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