NEW YORK (Reuters) - Stocks rose for a second day on Wednesday as investors flocked to shares of Coke and other companies that hold up well in recessions following another round of disappointing economic data and corporate outlooks.
WASHINGTON (Reuters) - The chief executives of the major U.S. auto companies prepared on Wednesday for make-or-break congressional hearings on their request for $34 billion in government bailout loans, while lawmakers considered options including one or more of the Detroit Three going bankrupt.
NEW YORK (Reuters) - Private employers cut 250,000 jobs in November, an unexpectedly large number and the biggest in seven years, while the service sector, which powers most of the economy, posted its worst slump on record.
WASHINGTON (Reuters) - The Treasury Department is developing a plan to try to reduce mortgage rates on home loans to 4.5 percent on typical mortgages by expanding its purchases of mortgage backed securities, sources familiar with the plan said on Wednesday.
CHICAGO/WASHINGTON (Reuters) - Treasury Secretary Henry Paulson is weighing whether to ask Congress for the remaining $350 billion of the financial bailout fund, with White House aides approaching President-elect Barack Obama's transition team about the idea, an Obama aide said on Wednesday.
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