U.S. auto sales boom but clunker hangover looms
U.S. auto sales boomed in August as consumers burned through $3 billion in government incentives, leaving automakers to contend with both inventory shortages and uncertain demand in the months ahead. Read Full Article here.
New U.S. factory data a good sign, says Obama
President Barack Obama on Tuesday welcomed new data showing the U.S. manufacturing sector grew for the first time in 19 months in August, saying it was yet more evidence the U.S. economy was slowly recovering. Read Full Article here.
RHJ raises stakes in Opel poker with sweetened bid
Belgian finance investor RHJ International raised the stakes in the ongoing bidding war with rival Magna for GM's Opel unit, as sources said the U.S. automaker's board was due to discuss the deal. Read Full Article here.
EBay to sell 65 percent of Skype for $1.9 billion
Internet auction house EBay Inc plans to sell a majority stake in its online phone unit Skype for $1.9 billion to private investors including Silver Lake, a deal analysts said was worth more than expected but may curb eBay's growth potential. Read Full Article here.
GE exec sees another 12-18 tough months ahead
General Electric Co expects conditions in most of its core markets to remain challenging for the next 12 to 18 months, a top executive of the largest U.S. conglomerate said on Tuesday. Read Full Article here.
Cerberus dismisses talk of fund defaults
Cerberus Capital Management LP on Tuesday dismissed market speculation that some of its hedge funds, which have suffered losses and heavy redemptions, are in danger of default. Read Full Article here.