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GM is shedding the Saab, Saturn, Hummer and Pontiac brands to focus on Chevrolet, Cadillac, GMC and Buick.

Alpha Bank announced on the 31st of August the completion of the sale of treasury shares.

General Motors, the once-upon-a-time largest US automaker is finally coming to terms with the bankruptcy scenarios that have been around for the past year or so.

Today sees the release of economic sentiment in Germany and the Eurozone along with the release of UK inflation data that should once again indicate a sharp fall due to the weakening economy.

Treasury Secretary Paulson said that even if bankruptcy is the outcome then its important that it’s orderly.

In the UK, a full-blown recession is now unfolding: export growth set to collapse, credit crisis to hit investment, but consumption benefiting from lower oil prices.

Now, the day has come that other troubled companies also saw reason and ask to be baptised bank holding company.

Morgan Stanley, the once-upon-a-time investment bank has recently been converted into a bank holding company to avoid bankruptcy.

Ford Motor Co., General Motors Corp., and Chrysler LLC are all queuing up for cash as sales demand has dropped to record lows amid the global recession.

Merrill Lynch Co. only recently eliminated more than 5,000 jobs that accounted for almost 8 percent of its total workforce.

General Motors shares soared by 33% on Monday, 13th October on reports stating that the worlds largest automaker is looking for a merger partner.

The US government is pumping liquidity into its banks in return of a stake. Treasury Secretary Paulson announced plans of using $250 billion taxpayer’s money to make investments in nine banks, for a start.

Iceland’s government has taken control of 3 commercial banks in the past few days to ensure continued operations.

The agency has already been investigating the recent financial collapses of Lehman Brothers and AIG, based on allegations for mortgage fraud.

The number of US businesses bankruptcy filings has risen 49% in April compared to a year earlier. This is a worry.

UBS AG Chief Executive Officer Marcel Rohner confirmed analysts fears that UBS, will put its investment banking business on a much tighter leash.

The dollar’s vulnerability was highly underscored by the announcement of South Korean’s National Pension Fund that would no longer buy US treasuries as yields were too low.

Lehman Brothers Holdings Inc., the largest underwriter of mortgage-backed bonds is eliminating 5% of its total employees.

A report released on March 7 by the Labor Department showed that job cuts continued in February for the second straight month.

Housing statistics for the state of California were released by the California Association of Realtors (CAR).