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Yahoo News
Business
World stocks up for 10th day
(Reuters)
 Reuters - Global stocks rose on Wednesday, extending a rally into a 10th straight day, inspired by hopes massive U.S. government spending and tax cuts will continue to support the dollar and stimulate demand for exports.
Dow Chemical prepared to delay Rohm & Haas deal: report
(Reuters)
Reuters - Dow Chemical Co is prepared to miss next week's deadline to clinch the $15 billion takeover of Rohm & Haas in an effort to raise enough cash to complete the deal without taking on too much debt, the Financial Times reported on its website late on Tuesday.
GM says government loans cover worst scenario: report
(Reuters)
 Reuters - General Motors Corp has adequate government loans pledged to cover the worst-case scenario it outlined in December to Congress and will not need more unless the economy worsens, a Bloomberg report said.
Alcoa to slash jobs and sell 4 units
(Reuters)
 Reuters - Alcoa Inc said on Tuesday it would slash more than 15,000 jobs, halve capital spending and sell four businesses as it reduces aluminum production in the face of the global economic downturn.
Economy
Japan eyes bank injections to counter crisis
(Reuters)
 Reuters - Japan is reportedly considering cash injections for scores of regional banks in an effort to encourage lending as the financial crisis creates havoc for companies and economies around the globe.
GM says government loans cover worst scenario: report
(Reuters)
Reuters - General Motors Corp has adequate government loans pledged to cover the worst-case scenario it outlined in December to Congress and will not need more unless the economy worsens, a Bloomberg report said.
U.S. budget deficit seen topping $1 trillion in 2009
(Reuters)
 Reuters - Politicians want American consumers to resume spending to pull the economy out of its tailspin, and the U.S. government is leading by example with a potential $1 trillion deficit in 2009 -- even before a massive stimulus plan.
Republicans cry foul over Obama's 'big government' plan
(AFP)
 AFP - President-elect Barack Obama's plan to haul the US economy out of recession entails a hefty expansion of the federal government -- a prospect that has conservative critics aghast.
European Union
German mogul kills self over financial meltdown
(AP)
 AP - German billionaire Adolf Merckle threw himself in front of a train after his business empire, which included interests ranging from VW cars to pharmaceuticals to cement, ran into trouble in the global financial crisis, his family said Tuesday.
Dollar up despite disappointing economic readings
(AP)
AP - The dollar rose against most major currencies Tuesday despite disappointing readings on pending home sales and factory orders, as speculation mounted that the European Central Bank will continue its rate cut campaign in the face of declining inflation across the euro zone.
FTSE-100 up 59.28 points at 4,638.92
(AP)
AP - Share prices on the London Stock Exchange closed up Tuesday.
London stocks continue bounce
(AFP)
 AFP - FTSE 100 stocks continued their New Year bounce on Tuesday as investors looked forward to possible interest rate cuts and further government aid in 2009.
Personal Finance
Banks may need to raise fresh capital in '09: Whitney
(Reuters)
Reuters - U.S. banks will have to raise fresh capital in 2009, and a sharp increase in credit-rating downgrades on mortgage-related securities will lead to further stresses on the companies' capital, according to prominent banking analyst Meredith Whitney.
Fed and other agencies to join U.S. fraud task force
(Reuters)
 Reuters - The U.S. government is beefing up a task force to fight mortgage crimes and safeguard federal financial bailouts, the U.S. Justice Department said on Tuesday.
Leading Democrat offers mortgage aid bill
(Reuters)
Reuters - The second-ranking Democrat of the U.S. Senate on Tuesday introduced legislation that would let bankruptcy judges erase some mortgage debt in an effort to stem foreclosures.
Madoff scandal, SEC role under scrutiny
(AP)
 AP - Two more months of mortgage payments and retiree Allan Goldstein says he'll be broke, just another victim in what may be the biggest Ponzi scheme in history.
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