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SAN FRANCISCO (MarketWatch) — Nissan Motors said Tuesday that U.S. November sales dropped 42.2% to 46,605 vehicles from 80,683 a year ago. Nissan branded vehicle sales in November fell 44.4% to 38,974 units, and Infiniti branded vehicles saw a 28% drop to 7,631 units from last year.
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Original post by Forextvblog

SAN FRANCISCO (MarketWatch) — General Motors Corp. on Tuesday submitted a plan to Congress to tap up to $18 billion in federal loans to create a company that is profitable and self-sustaining in the long term. In its blueprint, GM requested term loans of up to $12 billion to secure adequate liquidity until Dec. 31, 2009. GM expects an initial draw of $4 billion in December 2008. In addition, the company is seeking a $6 billion line of credit if the severe market downturn persists and said it intends to repay the loans as soon as 2011. The beleaguered automaker’s plan includes increased production of fuel-efficient vehicles and energy-saving technologies, reduced wage and benefit costs, significant capital structure restructuring and further consolidation in manufacturing operations. In a separate statement, the GM board said the company is fully capable of implementing the comprehensive plan being submitted to Congress.
Market Pulse […]

Original post by Forextvblog

G10 Advancers and Decliners vs USD

SEK
1.58

JPY
-0.35

The dollar gave up some of yesterday’s gains against the majors based on a light reversal in the risk aversion trade. The EurUsd rose over 100pips to the low range of 1.27, while the UsdJpy picked up 45pips moving up to the mid 93 level. The GbpUsd made a small step towards recovery following the massive selloff in the previous session. The pair increased 50pips to the low 1.49 price area,…

Original post by Peter Rosenstreich

SAN FRANCISCO (MarketWatch) — Citigroup said the institution launched a $5.5 billion, three-part bond deal Tuesday. The largest segment is a fixed-rate offering of $3.75 billion, maturing in three years, that is priced at 85 basis points over the mid-point of the Treasury interest rate swap curve. It’s also offering $1 billion in two-year, floating-rate notes at 55 basis points over three-month Libor; and $750 million in three-year floating rate notes at 80 basis points over one-month Libor, said spokeswoman Danielle Romero. The bond deal is expected to close later Tuesday and follows similar FDIC-backed offerings by Goldman Sachs and Bank of America Corp.
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Original post by Forextvblog

WASHINGTON (MarketWatch) — The Federal Reserve is “wrestling” with how alternatives to rate cuts would play out in a market that is conditioned to think of monetary policy only in terms of short-term rate moves, said James Bullard, the president of the St. Louis Federal Reserve Bank on Tuesday. In an interview on Bloomberg cable television network, Bullard said he was not a fan of cutting the Federal funds rates below the current 1% level. “At some point, you are going to have to stop” cutting rates because they are just so low, Bullard said. “For the time being, it looks like that [rate cuts] is going to be off the table for a while,” Bullard said. The Fed will have to communicate effectively about how alternative measures will help the Fed hit is target inflation rate, Bullard said. Alternative measures, known by experts as quantitative easing, are already underway, […]

Original post by Forextvblog

SAN FRANCISCO (MarketWatch) — General Motors Corp. will hold a briefing at 5:30 p.m. Eastern time Tuesday to discuss its plan for long-term viability that it submitted to the Congress. Big Three automakers are required to submit restructuring plans in exchange for billions in federal aid. Ford had earlier turned in its blueprint which, among other things, details an investment of about $14 billion in advanced technologies and products to improve fuel efficiency over the next seven years.

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Original post by Forextvblog

SAN FRANCISCO (MarketWatch) — Chrysler LLC on Tuesday reported a 47% drop in November U.S. sales to 85,260 vehicles from 161,088 a year ago. In contrast to most rivals, Chrysler’s sales of cars fell more steeply than trucks, falling 59% to 20,475 units while truck sales slid 42% to 64,785. “Our goal is to fight to maintain our share of the retail market month-to-month by keeping a strong advertising and incentive presence in the marketplace and finding financing solutions for our customers, roughly 75% of whom finance their vehicles with dealer assistance,” Jim Press, Chrysler’s vice chairman and president, said in a statement.

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Original post by Forextvblog

NEW YORK (MarketWatch) — Crude-oil futures fell 4.7% Tuesday to close at the lowest in more than three years as worries continued that a global economic slowdown will cut into energy demand. Crude oil for January delivery ended down $2.32 to $46.96 a barrel on the New York Mercantile Exchange, the lowest closing level since May 20, 2005. Crude’s loss on Tuesday followed a 9.4% slump in the previous session, the biggest percentage decline in more than seven weeks. Oil is now 68% lower than its record high of nearly $150 a barrel hit in July.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Original post by Forextvblog

SAN FRANCISCO (MarketWatch) — Citigroup on Tuesday shopped to investors a three-part bond deal backed by the FDIC, the latest such offering that takes advantage of the government’s offer to guarantee bank debt to jumpstart bank lending. The New York institution is selling a two-year floating rate note, a 3-year floating rate note and a three-year fixed rate note, said Spencer Lee, manager of SCM Advisors LLC’s fixed-income trading desk. The deals are expected to close Tuesday. Anticipated rates on the securities are at a steep discount to comparable yields for Citigroup bonds. For instance, the three-year floating rate is expected to carry a spread of one-month Libor plus 80 basis points, or about 2.7%. In contrast, a Citigroup note due April 2013 is currently yielding 7.7%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Original post by Forextvblog

BOSTON (MarketWatch) — Fidelity Investments on Tuesday said it will reopen Fidelity Contrafund and Fidelity Low-Priced Stock Fund to new investors and accounts, starting Dec. 16. Contrafund has been closed since 2006 and Low-Priced Stock has been closed since 2003. “Since the funds have been closed, they have not been able to generate sufficient levels of new sales to offset current and future redemptions,” said Walter Donovan, president of the equity division at Fidelity. “We believe reopening the funds will help bring some equilibrium to cash flows in order to ensure that their portfolio managers can most effectively direct their investment strategies.”
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Original post by Forextvblog