Business News

TORONTO, Dec. 18 (UPI) -- Bank of Canada Gov. Mark Carney says the country is mired in the international financial crisis, but it's not a dead-end street.

TORONTO, Dec. 18 (UPI) -- Red-faced officials with the Toronto Stock Exchange, North America's third largest market, said trading would resume Thursday after losing a day.

NEW YORK, Dec. 17 (UPI) -- Chrysler LLC is shutting down all U.S. vehicle production for a month, the company said Wednesday, citing a lack of consumer credit and slow sales.

NEW YORK, Dec. 17 (UPI) -- The New York financier accused of perpetrating an alleged $50 billion fraud was ordered by a judge Wednesday to be detained in his Manhattan apartment.

NEW YORK, Dec. 17 (UPI) -- Crude oil prices fell on the New York Mercantile Exchange in spite of a production cut announced in Algeria Wednesday.

CHICAGO, Dec. 17 (UPI) -- Grains closed mixed on the Chicago Board of Trade Wednesday as the dollar slipped against the euro and yen and oil ministers announced a major production cut.

Markets close lower ... Auto dealerships waiting for good news ... OPEC makes biggest production cut ever ... Morgan Stanley posts $2.36 billion loss ... News from United Press International.

DETROIT, Dec. 17 (UPI) -- A former China World Trade executive has pleaded guilty in a U.S. federal court to multiple counts of fraud stemming from an e-mail stock manipulation scheme.

NEW YORK, Dec. 17 (UPI) -- U.S. markets closed lower Wednesday as financial firms continued to show signs of weakness.

DETROIT, Dec. 17 (UPI) -- The threat of bankruptcy is cutting into U.S. car company sales while the federal government ponders how to help, a dealership owner said.

ORAN, Algeria, Dec. 17 (UPI) -- Oil ministers in Algeria Wednesday announced a 2.2 million barrel per day production cut, the largest one-time pull back in OPEC history.

DETROIT, Dec. 17 (UPI) -- Detroit Media Partnership explained its move to three-day per week home deliveries Wednesday as a way to roll with the punches in a struggling industry.

NEW YORK, Dec. 17 (UPI) -- U.S. bank Morgan Stanley said Wednesday it lost $2.36 billion in its first quarter as a bank holding company.

LONDON, Dec. 17 (UPI) -- Two British airlines said Wednesday they would cut their fuel surcharge fees due to the falling price of oil and jet fuel.

WASHINGTON, Dec. 17 (UPI) -- U.S. crude oil inventories increased by 500,000 barrels in the week ending Dec. 12, the U.S. Energy Information Administration said Wednesday.