NEW YORK (Reuters) - Stocks fell on Thursday as a sharp drop in oil prices sent the energy sector tumbling and disappointing profit outlooks from large companies such as Merck raised the specter of a worsening economy.
WASHINGTON (Reuters) - There is broad understanding of distress but no consensus yet in Congress to rescue U.S. automakers as industry chiefs hope on Friday to advance their case in a second appearance before lawmakers in two days.
DEARBORN, Michigan (Reuters) - The year-long U.S. recession has taken a turn for the worse recently, two top Federal Reserve policy-makers said on Thursday, raising expectations for aggressive policy action by the central bank as soon as next week.
DETROIT (Reuters) - General Motors Corp and Chrysler LLC said on Thursday they would be open to a merger if the U.S. government mandated it as a condition for providing the emergency financing they say is needed to allow them to survive into 2009.
CHICAGO (Reuters) - Many retailers posted sharply lower November sales at stores open at least a year, prompting some investors to pour into the sector on hopes the dismal results signaled a bottom for share values.
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