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China reduces US Treasury debt holdings in May, 2010 Martin Crutsinger, AP Economics Writer Friday July 16, 2010, 3:00 pm EDT WASHINGTON (AP) — China reduced its holdings of U.S. Treasury debt in May as total foreign holdings of government debt posted a slight increase. China’s holdings fell by $32.5 billion to $867.7 billion, the Treasury reported Friday

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China reduces US Treasury debt holdings in May - Yahoo! Finance

Debt commission leaders paint gloomy picture The heads of President Barack Obama’s national debt commission painted a gloomy picture Sunday as the United States struggles to get its spending under control. The bipartisan U.S. Debt Commission has reported its findings and it is not pretty.

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Debt commission leaders paint gloomy picture - Yahoo! News

The U.S. trade deficit rose in March for the first time since last July as the global recession cut sharply into sales of American exports. The politically sensitive deficit with China increased.

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Trade deficit widens in March to $27.6 billion (AP)

Citigroup Inc said on Tuesday that the committee overseeing its use of $45 billion of taxpayer money had approved the use of nearly all of that sum to make loans.

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Citigroup: $45 billion TARP money goes toward loans (Reuters)

A bankruptcy judge says GMAC can become Chrysler’s preferred lender. Pending the completion of certain documentation, U.S. Judge Arthur Gonzales on Tuesday approved the deal between Auburn Hills, Mich.-based Chrysler LLC and GMAC Financial Services.

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Judge OKs deal to make GMAC top Chrysler lender (AP)

General Motors Corp stock plunged more than 22 percent to a 76-year low on Tuesday, a day after GM’s top executives dumped their shares as the automaker heads toward a bankruptcy or a restructuring that would all but wipe out existing shareholders.

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GM shares fall to 76-year low after execs dump stock (Reuters)

General Electric Co plans to invest $100 million in a factory to build high-tech batteries for heavy equipment, which it believes could be a $1 billion business over the next decade.

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GE sees $1 billion potential in advanced batteries (Reuters)

PHILADELPHIA—-US Airways customers today have a new United Kingdom option with nonstop service to Birmingham from the airline’s international gateway at Philadelphia International Airport.

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US Airways Inaugurates Expanded Flying to the United Kingdom (Business Wire)

Improved credit markets have brought stabilization to the economy but it is still not clear when growth will resume, General Electric Co Chief Executive Jeff Immelt said on Tuesday.

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GE CEO says economy stabilized, growth a question (Reuters)

Coal stocks rallied on news of Alpha Natural Resources’ planned acquisition of Foundation Coal Holdings.

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Merger News Powers Coal Index (Indie Research)