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Detroit automakers' rescue stalls in Senate (AP via Yahoo! News) A plan to give troubled U.S. automakers billions of dollars in government-backed loans is on life support, leaving the fate of hundreds of thousands of workers and Detroit's once-venerable car companies hanging in the balance.
Citigroup will slash 53,000 jobs (The Tennessean) NEW YORK — Citigroup, widely seen as the sickest Wall Street bank, will make some of the most severe cuts in the history of U.S. business — 53,000 jobs — as it tries to slash costs and get back to basics before it's too late.