According to Reuters, Obama has dropped the idea of appointing a “car czar”.

Reuters reports that Japan’s GDP is dropping at an annual rate of over 13%.

Reuters reports that the Administration is trying to talk down the idea that the stimulus package will help the economy soon.

Reuters writes that Nokia (NOK) has launched an online software store.

Reuters reports that Sirius (SIRI) creditors are threatening to out its CEO.

Reuters writes that Deere is being hurt as the recession hit farmers.

Reuters reports that MasterCard (MA) and Visa (V) are cutting costs as their business slows.

The Wall Street Journal reports that Obama will create an inter-agency task force to deal with auto industry problems

The Wall Street Journal reports that GM (GM) will resume talks with the UAW.

The Wall Street Journal reports that Acer will release its first smartphone.

The New York Times reports that the new auto industry task force will be led by Timothy F. Geithner and Lawrence H. Summers.

The FT reports that heads of major banks want government oversight of their activities cut back.

Bloomberg writes that the UK economy may shrink by 3.3% this year.

Bloomberg reports that GM is pushing creditors and labor as it readies its restructuring plan.

Douglas A. McIntyre

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.