Financial news on December 06, 2008

Business and Financial news
Alex Widmer, 52, Chief of Julius Baer, Dies Unexpectedly

A spokesman for Julius Baer declined to comment on the cause amid reports, attributed to unidentified sources, that it was suicide. Read more..

By LYNNLEY BROWNING - The New York Times

At G.M., Innovation Sacrificed to Profits

The struggle to balance innovation with profits distracted G.M. from spotting shifts in the marketplace. Read more..

By MICHELINE MAYNARD - The New York Times

Chrysler’s Friends in High Places

The carmaker’s owner, Cerberus, has used its deep connections to shape the debate over the foundering automakers to its advantage. Read more..

By LOUISE STORY - The New York Times

CNN Looks to New Face for Sunday Morning

CNN is close to installing its longtime White House correspondent John King in the host role for its Sunday program “Late Edition.” Read more..

By BILL CARTER - The New York Times

Democrats Set to Offer Loans for Carmakers

Congress is expected to hold a vote on the short-term rescue plan for American automakers in a special session next week. Read more..

By DAVID M. HERSZENHORN and BILL VLASIC - The New York Times

Grim Job Report Not Showing Full Picture

The report overlooked the gray area of the labor market — those not having a job and not looking for one, but interested in working. Read more..

By DAVID LEONHARDT and CATHERINE RAMPELL - The New York Times

HSBC Executive Calls Deposit Backing Unfair

The chief executive of HSBC’s Asian operations called for Asian governments to abandon their guarantees of bank deposits, saying they amount to inappropriate assistance to weak banks. Read more..

By KEITH BRADSHER and BETTINA WASSENER - The New York Times

Paulson’s China Trip Leaves Big Issues Unresolved

Two days of economic dialogue produced a modest stream of achievements, but also served to highlight tensions between the world’s biggest economy and the world’s largest developing one. Read more..

By ANDREW JACOBS - The New York Times

Rheinmetall Announces Job Cuts

The German auto parts and weapons supplier will eliminate 750 jobs because of slowing automotive demand. Read more..

By BLOOMBERG NEWS - The New York Times

Shares Surge Despite Heavy Job Losses

The market moved higher in the afternoon, led by financial stocks, as Wall Street looked past the worst job losses since 1974. Read more..

By JACK HEALY - The New York Times

See what else happened on December 06, 2008