AP - General Motors Corp. and Chrysler LLC have held preliminary talks about a merger or an acquisition of Chrysler by GM, according to published reports.
AP - President Bush emerged from a meeting with foreign financial officials on Saturday and pledged a global response to the credit crisis that will lead toward a "path of stability and long-term growth."
Reuters - General Motors has had talks with smaller rival Chrysler LLC about a merger that would combine the No. 1 and No. 3 American automakers at a time when both are struggling to cut costs and shore up cash, according to a source briefed on the matter.
AP - Mazda denied Saturday that a decision had been made by troubled Ford Motor Co. to sell its stake in the Japanese automaker but it didn't rule out a possible deal.
AP - Prices at the pump are dropping fast, and gas could fall below $3 a gallon in a matter of weeks, if not sooner. Does that mean Americans will return to their heedless, gas-guzzling ways?
AP - Davey McKeever was down to his last bet slip of the night, crumpled in a sweaty fist, at the Shelbourne Park greyhound track. The remnants of McKeever's first unemployment check would rise or fall on the ironically named Nest Egg.
AP - The Federal Communications Commission has sided with the National Football League in a long-running programming dispute with Comcast Corp., ruling that Comcast should carry the league's NFL Network on its popular digital cable package.
Reuters - Ford Motor Co is considering selling its stake in Japan's Mazda Motor Co (7261.T), a source familiar with the matter said on Saturday, as debt-laden U.S. automakers struggle with weakening auto sales and the global credit crunch.
AP - In this fall's TV season, a secret agent speeds around in a Chevrolet Camaro, a man tries to save the world with the help of a Dodge Ram pickup, and a famous talking car returns to the streets in the form of a Ford Mustang.
BusinessWeek Online - In the fickle world of retailing, where hot concepts can be as fleeting as pop stardom, Costco (NasdaqGS:COST - News) has been a fortress of stability over the years. The $72 billion discount warehouse chain has built an empire of 544 stores in 40 states on one proposition to which it is fanatically devoted: keeping the prices of its quirky assortment of wares, everything from bulk antacids to flat-screen televisions, as low as possible.
AP - Wall Street capped one of its worst weeks ever with a wild session Friday that saw the Dow Jones industrials gyrate within a 1,000 point range before closing with a relatively mild loss and the Nasdaq composite index actually ending with a modest advance.
AP - Just a year ago, investors were swaggering as the stock market surged to an all-time high. Now, almost everyone on Wall Street and Main Street seems to be shuddering amid a frightening reversal of fortune that has erased $8.3 trillion in shareholder wealth in the past 366 days.
AFP - The Italian employers' association predicts negative growth for the country next year, its head said on Saturday, down nearly one percentage point to minus 0.5 percent, ANSA news agency reported.
AFP - The head of the International Monetary Fund, Dominique Strauss-Kahn, urgently called Friday for "cooperative" actions to boost confidence and ease a global financial crisis.
BusinessWeek Online - While Ed Wallace claims in his Oct. 8 column that there is no auto credit crisis (BusinessWeek.com, 10/7/08), I invite him to actually talk with any of the thousands of customers who couldn't secure adequate financing on a new vehicle purchase this past month.
BusinessWeek Online - ARTEIXO, SPAIN Many U.S. apparel retailers are choking on slow-moving inventories as consumers hold back on spending. But Spain's Inditex, whose Zara chain pioneered cheap chic, is zipping ahead. The $13.8 billion company, which is closing in on Gap for the title of world's biggest clothing retailer, has nearly quadrupled sales, profits, and locations since 2000. This year, Inditex plans to expand by up to 640 stores. "They will weather the storms better than most of their rivals," says Michael Lewis, a supply-management professor at University of Bath's School of ...