WASHINGTON (Reuters) - Four senators have reached a bipartisan agreement on a bill to assist the struggling automotive industry, the lawmakers announced in a joint statement on Thursday.
DETROIT (Reuters) - Shares of General Motors Corp and Ford Motor Co jumped on Thursday, rebounding from multi-decade lows after U.S. senators reached a bipartisan agreement on a government bailout for the struggling U.S. automakers.
NEW YORK (Reuters) - Stocks clawed back from multiyear lows on Thursday after hopes of a deal to rescue automakers were revived, offsetting growing concerns about the deepening economic downturn.
NEW YORK (Reuters) - Citigroup Inc lost as much as a quarter of its market value Thursday as mushrooming worries about whether the bank has enough capital to withstand billions of dollars of additional loan losses outweighed new support from its largest individual investor.
NEW YORK (Reuters) - JPMorgan Chase & Co is cutting about 10 percent of its investment banking staff as the credit crunch and slowdown in the economy bite into bank earnings, people familiar with the situation said on Thursday.
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