Chrysler to seek $7 billion in government loans

AUBURN HILLS, Mich. (AP) -- Chrysler says that without a federal loan, its cash could fall below the minimum amount required to run the company in the first quarter of next year....

GM says it needs $12 billion loans by late March

WASHINGTON (AP) -- General Motors Corp. said Tuesday it needs $12 billion in government loans to keep operating, telling Congress in a bluntly worded report that its collapse could have "severe, long-term consequences to the U.S. economy."...

Mortgage fraud incidents up 45 pct in 2Q

MIAMI (AP) -- Reported incidents of mortgage fraud grew by 45 percent in the second quarter compared to the year-ago period, as borrowers misstated their financial information to maneuver around tighter lending standards, industry data released Tuesday showed....

Paulson urges Chinese to continue currency reforms

WASHINGTON (AP) -- Treasury Secretary Henry Paulson said Tuesday that China must continue allowing its currency to rise in value against the dollar as part of reforms to address trade tensions with the United States....

Ford says CEO will work for $1 to get gov't loans

DETROIT (AP) -- Ford Motor Co. will tell Congress that it plans to return to a pretax profit or break even in 2011 when its CEO appears before two legislative committees this week....

GM says CEO will drive to Washington

DETROIT (AP) -- This time, GM Chief Rick Wagoner will drive a company car to Washington instead of flying by corporate jet as he seeks a government bailout, a spokesman says....

GE expects to hit low-end of 4Q guidance

WASHINGTON (AP) -- General Electric Co. said Tuesday it expects fourth-quarter earnings to be near the low end of its guidance and will take a charge of up to $1.4 billion as it starts to shrink its struggling GE Capital finance arm next year because of the ongoing credit crisis....

Delta details planned capacity cuts

ATLANTA (AP) -- Delta Air Lines Inc. hinted Tuesday that more job cuts could be on the way as it disclosed that it will reduce consolidated system capacity by 6 percent to 8 percent in 2009, compared to the current year....

British Airways in merger talks with Qantas

LONDON (AP) -- British Airways PLC said Tuesday it is in talks with Australia's Qantas Airways Ltd. about a potential merger, sending its shares soaring as it confirmed expectations of consolidation in the hard-hit aviation industry....

Staples 3Q profit drops 43 percent on charges

CHICAGO (AP) -- Staples Inc., the world's largest office supplier, said Tuesday that its third-quarter profit sank 43 percent because of hefty charges from restructuring and the acquisition of European rival Corporate Express....