Reuters - President Bush on Tuesday named
Henry "Hank" Paulson as his new Treasury Secretary, enlisting a
powerful Wall Street player to lead his economic team as he
seeks to lift his sagging poll ratings.
Reuters - U.S. sales for General Motors Corp.
and Ford Motor Co. were stuck in the slow lane in
May, hurt by gas prices and soft demand for large sport utility
vehicles, even as Japanese rivals raced ahead, analysts said on
Tuesday.
Reuters - Mortgage finance company Freddie Mac
, still recovering from a 2003 accounting scandal, on
Tuesday said 2005 net income fell 27.6 percent from the
previous year to $2.1 billion.
Reuters - U.S stocks tumbled on Tuesday as
higher crude oil prices and a disappointing sales report from
Wal-Mart Stores Inc. stirred investor worries about a
potential slowdown in consumer spending that could hurt
corporate profits.
Reuters - German chemical maker BASF
has agreed to buy U.S. catalyst producer Engelhard
for over $5 billion, clearing the way for the biggest
takeover in BASF's 140-year history.
