– GM, Chrysler May Face Bankruptcy to Protect US Debt (Bloomberg):
Feb. 9 (Bloomberg) — General Motors Corp. and Chrysler LLC may have to be forced into bankruptcy by the U.S. government to assure repayment of $17.4 billion in federal bailout loans, a course of action the automakers claim would destroy them.
– Mafia millions buoying banks: UN (Calgary Herald):
VIENNA — Cash-rich Mafia groups have been channelling funds into banks desperate to survive the global credit crisis, the UN anti-crime chief said on Monday.
– China fights drought with chemical cloud-seeding (AP)
– Florida’s Crossroads of Foreclosure and Despair (New York Times)
– France unveils €6bn auto sector bail-out (Financial Times)
– Got the Treasury Bubble Blues? (Morningstar)
– Overview: US bond yields climb amid oversupply fears (Financial Times):
US government bonds yields climbed to their highest levels for more than two months on Monday ahead of the Treasury’s record $67bn of issuance this week. “If the market chokes on this supply, it might not only mean higher yields but it could start to weigh on the dollar,” suggested Steve Barrow, currency strategist at Standard Bank.
– No Safety In Treasuries (Forbes):
Investors flee U.S. government securities on fears about massive borrowing to repair the economy.
– Latvia reports 10.5% contraction (Financial Times):
Latvia’s economy contracted at an annual rate of 10.5 per cent in the fourth quarter, raising fears it may be unable to stick to the conditions of its IMF rescue package.
– Millions for charities hit by recession (Guardian):
£40m government aid contrasts with £500bn to bail out banks
– Record 19 Million US Homes Stood Vacant in 2008 (Bloomberg)
– US Army Lab Freezes Research on Dangerous Pathogens (Science Now):
The U.S. Army Medical Research Institute of Infectious Diseases has suspended research activities involving biological select agents and toxins. Army officials took the step on Friday after discovering apparent problems with the system of accounting for high-risk microbes and biomaterials at the Fort Detrick, Maryland, facility.
– UK companies fear worst is still to come (Financial Times)
– US using British atomic weapons factory for its nuclear programme (Guardian)
– $9.3 bn drains from quant funds as volatility continues (Financial Times)
– Netanyahu digs for election victory (Independent):
Benjamin Netanyahu, the Likud leader who is the favourite in what is expected to be a close electoral contest tomorrow, planted a eucalyptus tree in the occupied Golan Heights yesterday, demonstrating the uncompromising posture he intends to take towards Israel’s Arab neighbours.
– Hamas declares victory in Gaza but vows to rearm against Israel (Telegraph)
– Seminary ‘sacks holocaust denier bishop’ (Independent)
– House Approves Whitelist of People Who Aren’t Terrorists (Wired News)
– Ukraine pushes for loans to meet shortfall (Financial Times):
Ukraine has appealed for emergency loans from the world’s richest countries to help support its economy, which has been battered by the global financial crisis.
– Job Losses in US Spreading to Workers With College Degrees (Bloomberg)
– Over 200 Americans killed in Mexico since ’04 (MSNBC)
– UK suppressed torture evidence to protect MI6 (The Age)
– Analysis: Australia’s split weather system (Times Online)
– Drug Made In Milk of Altered Goats Is Approved (Washington Post)
– Genetic mapping of babies by 2019 will transform preventive medicine (Times Online)
– A Protected Forest’s Fast Decline (Washington Post)
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