Business Law News

What rate cut? Interbank lending rates keep rising
By MADLEN READ AP Business Writer NEW YORK (AP) - Governments around the world have slashed interest rates and ramped up their lending to unprecendented levels, but banks are still charging each other extremely high borrowing rates - a bad sign for the credit markets that remain close to paralysis.

Morgan Stanley shares sink on worries about future
By JOE BEL BRUNO AP Business Writer NEW YORK (AP) - Morgan Stanley Inc. shares plunged Friday as investors questioned the investment bank's future even with a major investment from Japan's Mitsubishi UFJ Financial Group.

AP source: GM could announce production cuts soon
By TOM KRISHER AP Auto Writer DETROIT (AP) - General Motors Corp. is likely to announce further production cuts and possible plant closures as early as next week as it deals with slumping sales and a collapse in its stock price, a person with knowledge of the company's plans said Friday.

Markets stampede lower; global finance chiefs meet
By JEANNINE AVERSA AP Economics Writer

Accounting board adopts guidance to ease crisis
By JOHN CHRISTOFFERSEN AP Business Writer NORWALK, Conn. (AP) - The standard-setting board for corporate accounting adopted new guidance on Friday that will give banks a break in the distressed market and could boost their balance sheets.

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