Stocks hit fresh lowsUS stocks lost ground in choppy trade on Tuesday as ongoing worries about the worsening global economic downturn offset Hewlett-Packard's upbeat quarterly results and profit outlook.
Slowdown saps promise of emerging auto markets Smoke and flashing lights, dancing girls in white go-go boots _ the world's top automakers put on dazzling shows Tuesday as they wooed Chinese buyers with their latest models.
But for all the flash at this year's Guangzhou Auto Show, automakers face a dimmer outlook for global sales, even here in the world's second-largest vehicle market.
Just as General Motors Corp. and other manufacturers are desperately looking to emerging markets to compensate for falling sales in the U.S., Europe and Japan, potential car buyers in China, Russia and other once sizzling markets are pulling back.
BSkyB to raise $600 million in bond issue Satellite broadcaster British Sky Broadcasting Group PLC said Tuesday it plans to raise $600 million in a bond issue to refinance existing debt and acquire new businesses.
BSkyB, whose biggest shareholder is Rupert Murdoch's News Corp., said it will pay 9.5 percent interest on the 10-year bond notes to be issued to institutional investors.
It expects the offer to close by Nov. 24.
Last month, BSkyB posted a 21 percent rise in third-quarter operating profit resulting from a sharp increase in new customers.
GMAC files for bank holding statusGMAC Financial Services has applied to become a bank holding company, which would allow General Motors' financing arm to be eligible for aid under the government's $700 billion bank rescue plan.
Bailout with a price: Chapter 11 bankruptcy Mention a corporate bailout in the nation's capital these days and chances are someone will offer a harsh condition to go along with it. Chapter 11 bankruptcy.
Lately, the term 'prepackaged bankruptcy' has been gaining currency in the halls of Congress as lawmakers struggle with pleas for help from the auto industry.
The idea, embraced by some Democrats and Republicans, would extend taxpayer help in exchange for a company undergoing an accelerated Chapter 11 reorganization. The arrangement could represent a model, or a deterrent, for any other strapped companies considering seeking government help.
