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GM, Ford Prepare for Congress - 7 hours ago - General Motors' GM board was meeting on Dec. 1 to review a plan that management hopes will persuade Congress to lend the company about 12 billion in public funds. Part of the plan includes reviewing several of its brands for sale or 0133 : BusinessWeek

'We may have to restructure loans to textiles, steel, real 0133 - 3 hours ago - To a certain extent, the slowdown is a correction. Markets were overheated. A correction was indeed the need of the hour. As far as the preparedness of my bank is concerned, I am not at all shaky. We have a sound repayment flow and my 0133 : Business Standard

State must end mortgage abuses - 5 hours ago - Being forcibly removed from one s home is one of the most stressful and devastating events a family can experience. This happens all-too-often in Michigan, as predatory home loans have jeopardized entire communities and seriously damaged 0133 : Detroit Free Press

Investor Sues to Block Mortgage Modifications - 7 hours ago - By Mara Der Hovanesian The battle over the mass modifications of troubled mortgages has begun in earnest. On Dec. 1, William Frey, a private investor in mortgage-backed securities, filed a lawsuit in New York State Supreme Court alleging 0133 : BusinessWeek

Automakers' debt may be obstacle to federal loans - 5 hours ago - DETROIT AP They'll park some corporate jets, cut executive pay and serve up concessions from the United Auto Workers, but Ford Motor Co., General Motors Corp. and perhaps Chrysler LLC also will have to address massive debts to persuade 0133 : Associated Press

Home loan firms not to cut rates - 5 hours ago - A slew of measures by the Reserve Bank of India RBI during the last few weeks may have led to a reduction in home loan rates by public sector banks, but housing financial companies HFCs are in no mood to reduce lending rates. HFCs are 0133 : Business Standard

Asian stocks fall as manufacturing declines - 32 minutes ago - Asian stocks tumbled as a deepening global recession drove down oil and metal prices and heightened concerns company earnings will collapse. Woodside Petroleum Ltd. lost 6.5 in Sydney after crude sank to the lowest level in three years. 0133 : The Age

U.S. recession began last December, economists say - 1 hour ago - WASHINGTON The U.S. economy officially sank into a recession last December, which means that the downturn is already longer than the average for all recessions since World War II, according to the committee of economists responsible for 0133 : International Herald Tribune