According to Bloomberg, GM (GM) will announce a major restructuring including moving more production to small cars.
Reuters reports that regional bank stocks were hit hard by liquidity concerns.
Reuters writes that Anheuser-Busch (BUD) was bought by InBev for $70 a share.
Reuters reports that Time Warners’s (TWX) AOL launched a personal finance site called WalletPop.
Reuters reports that Kimberly-Clark cut its outlook for the year.
Reuters writes that Soros said the Fannie Mae (FNM) and Freddie Mac (FRE) crisis would not be the last.
The Wall Street Journal writes that Paulson took the lead in the plan to bail out FNM and FRE.
The Wall Street Journal writes that mortgage insurers have tightened their standards making loans harder to get.
The Wall Street Journal reports that a financing deal between Paramount and Deutsche Bank (DB) has falled though, probably because of issues from the credit crisis.
The Wall Street Journal writes that Northrop (NOC) and Boeing (BA) are preparing new bids for the Air Force tanker contract.
The Wall Street Journal writes that Intel (INTC) will launch a new versions of its Centrino chip.
The Wall Street Journal reports that E*trade (ETFC) sold its unit in Canada.
The Wall Street Journal writes that Apple (AAPL) sold one million of its iPhones in its first three days on the market.
The Wall Street Journal reports that Palm (PALM) has launched its new Treo into the smartphone market.
The New York Times reports that Microsoft (MSFT) is launching more games to appeal to mainstream users to increase the sales of its Xbox.
The New York Times reports that the CEO of Citigroup (C) has launched a new program to help to set management goals at the company, but it will not save the bank from severe near-term problems.
The New York Times reports that two senior executives stepped down at The Tribune Company.
The New York Times writes that Bush has lifted a federal ban on some off-shore drilling.
The FT writes that EBay (EBAY) won its counterfeiting could case with Tiffany.
Douglas A. McIntrye
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