Nicolas Sarkozy unveiled a 26-billion-euro (S$50.6 billion) stimulus plan on Thursday to help France fight a global slowdown with massive state investment and aid for the struggling car industry.

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Big Three automakers face skeptical Congress in rescue plea
Their fate remained uncertain even after a request of a $34-billion bailout. -AFP

GM, Chrysler may merge
They are open to merger if US govt mandated it as a condition for providing emergency financing. -Reuters

Bad loans likely to rise in '09
Beijing has relaxed monetary policy as part of measures to cushion the economy. -AFP

MAS seeks legal advice
MAS has enlisted senior counsel Davinder Singh to advise on legal issues faced by Minibonds. -ST

SPH in good shape to ride out recession
Media giant will review its operations and introduce additional cost-management measures. -myp

Video: Credit crunch claims Swiss bank jobs
Swiss bank Credit Suisse announces it will axe 5,300 jobs. -Reuters

Cheer to US retail sales in Dec
Retail environment still tough in 2009. -Reuters

US jobless at 26-yr high
Scores of US companies announce massive layoffs. -Reuters

Viacom cuts 850 jobs
It is slashing 7% of its workforce. -AFP

Eurozone in recession
Bloc's combined economy shrank by 0.2 per cent. -AFP

Pound hits historic euro low
It dropped to 1.1499 euros. -AFP