According to Reuters, Japan has fallen into a recession.

Reuters writes that the top seven executives at Goldman Sachs (GS) will take no bonuses.

Reuters reports that a poll showed that many American believe that the government should not bail out the car companies.

Reuters reports that oil dropped below  $55 after the G20 summit.

Reuters writes that The National Association of Business Economists poll said unemployment will peak at 7.5%.

Reuters reports that UPS (UPS) issued a forecast that was unclear about the future quarters.

Reuters reports that the head of GE (GE) said the economic downturn would give he company the opportunity to pick up assets and companies in media, infrastructure, oil and gas, and aviation.

Reuters writes that the head of GM (GM) said a bankruptcy of a US car company would devastate the US economy.

The Wall Street Journal reports that auto parts suppliers are trying to get part of the $700 billion bailout fund.

The Wall Street Journal reports that mining companies are scrambling to cut down production.

The Wall Street Journal reports that job losses in the UK are likely to grow.

The Wall Street Journal writes that Intel (INTC) rolled out its new i7 chip.

The Wall Street Journal reports that cellphone companies are bracing for a shake-up.

The Wall Street Journal reports that the UAW is facing the prospects of more concessions.

The Wall Street Journal reports that so far bank lending is not easing the credit crisis.

The Wall Street Journal reports that the NY State budget gap could cause problems beyond the state.

The Wall Street Journal reports that doubts still exist about rebuilding Citigroup (C).

The Wall Street Journal reports that pirates are now selling discs using the Blu-ray DVD technology.

The Wall Street Journal reports that Fedex will raise rates by almost 6%.

The New York Times reports that foreign car makers could take control of US vehicle sales and suppliers faster than most expect if The Big Three falter.

The New York Times reports that the UAW is allied with The Big Three in getting US aid.

The FT reports that GE (GE) signaled a desire to buy media assets.

The FT reports that car unions have ruled out concessions.

The FT reports that Hulu, created by large media companies, may edge out Google’s (GOOG) YouTube in revenue.

Bloomberg reports that billion of dollars in economic stimulus being proposed by Obama and Pelosi may fail to halt the slide in the economy.

Bloomberg reports that Toyota’s (TM) AAA rating may be cut for the first time in ten years.

Bloomberg reports that the price of cooper is dropping despite demand from China.

Douglas A. McIntyre

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