Recession rears ugly head, global auto sales shrink (Reuters)
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Reuters - Corporate results and outlooks worsened on Monday, and automotive companies from Japan to Italy to Detroit said October sales were the weakest in about 20 years as economies continued to weaken and consumer credit, and available cash, dried up.
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JPMorgan Chase Freezes Foreclosures (BusinessWeek Online)
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BusinessWeek Online - In what may the biggest sign yet that banks are getting serious about attacking the nationwide wave of home foreclosures, giant JPMorgan Chase announced on Oct. 31 that it is sharply ramping up its efforts to restructure the loans in its massive mortgage portfolio. For the next 90 days, JPMorgan will not place any new homes into foreclosure.
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Spain: government announces mortgage aid (AP)
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AP - Spain's government has unveiled a plan to help families struggling to make their mortgage payments and reward businesses that hire new workers amid the financial crisis.
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November 3rd, 2008