auto industry bailout

US Senate fails to agree on auto rescue, Asia stocks tumble

Jonathan Underhill - businesswire.co.nz | Friday December 12, 2008 | 2 comments

The U.S. Senate failed to reach a compromise on the US$14 billion plan to bail out the auto industry. Stocks tumbled in Asia on the news and the price of oil dropped.

Senate Majority Leader Harry Reid said there was “too much difference” on the proposal to reach an accord. General Motors and Chrysler have said they will run out of cash by March if they don’t get federal aid.

Wall St Journal | Talks Collapse Over Union Wages

US auto bailout remains tenuous

by Mitchell Hall | Friday December 12, 2008

While the proposed $US14 billion bailout of the US car industry passed easily in congress yesterday, Republicans in the Senate appear to have enough votes to stymie its passage, with voting likely due tomorrow.

Shares of General Motors fell 6.3 percent to $4.31 while Ford slipped 4.3 percent to $3.11 on the New York Stock Exchange. The other manufacturer pleading for public money, Chrysler, is not publically listed.

Symbol	Price	Change
ZIN	0.40	0.04	11.11%
SGL	0.14	0.01	7.69%
WSI	0.43	0.03	7.50%
GPG	0.49	0.01	2.06%
MAD	0.50	0.01	2.04%
EBO	7.50	0.15	2.04%

Sym	Price	Change
USD	0.7546	0.0032	0.43%
AUD	0.7707	0.0002	0.03%
EUR	0.6006	0.0037	0.62%
GBP	0.4813	0.0024	0.50%
HKD	5.8584	0.0240	0.41%
JPY	59.8827	0.1802	0.30%

Commodity	Price	Change	Time
Gold Index	1560.8	-6.930	2012-05-23T00:
Oil Brent	105.6	0.640	2012-05-23T00:
Oil Nymex	90.6	-2.070	2012-05-23T00:
Silver Index	27.8	-0.660	2012-05-23T00:

Symbol	Open	High	Last	%
NZX 50	3510.2	3518.2	3510.2	-0.40%
NASDAQ	2832.2	2855.3	2839.1	0.39%
DAX	6352.4	6373.8	6435.6	-2.33%
DJI	12501.5	12508.3	12502.8	-0.05%
FTSE	5403.3	5403.7	5403.3	-2.53%
HKSE	18842.3	18845.8	19039.2	-1.33%
NI225	8715.1	8715.1	8729.3	-1.98%