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| Detroit Metro (News) |
S&P: Home prices drop by record 15.8 pct. in May NEW YORK - Home prices tumbled by the steepest rate ever in May, according to a closely watched housing index released Tuesday, as the housing slump deepened nationwide. Downturn gains steam as inflation roars ahead WASHINGTON - The U.S. economic downturn gained steam Tuesday, with a report of the highest inflation since the early 1980s, more bad news for banks and automakers and a suggestion by the Federal Reserve chief that worse days are ahead. Merrill says GM bankruptcy possible DETROIT (Reuters) - General Motors Corp (GM.N) will need to raise as much as $15 billion in cash to shore up liquidity and bankruptcy is "not impossible" if the U.S. auto market continues to slump, Merrill Lynch said.
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