Warren Buffett takes charge

Getty Images 3 months ago DETROIT – JANUARY 12: Wang Chuanfu, Chairman of BYD, walks past the new E6 vehicle during the press preview for the Detroit International Auto Show at the Cobo Center January 12, 2009 in Detroit, Michigan. The 2009 North American International Auto Show (NAIAS) opens to the public January 17. Automakers have cut back on their displays to save money and are focusing more on the cars they plan to produce in response to the financial weakening of the industry.

Warren Buffett takes charge

CNNMoney dot com | Apr 13, 2009 | By Marc Gunther

Warren Buffett hasn’t just seen the car of the future, he’s sitting in the driver’s seat. Why he’s banking on an obscure Chinese electric car company and a CEO who – no joke – drinks his own battery fluid. read more

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Stocks slide, Toyota warns of ‘unprecedented’ crisis

People are reflected on a share chart in Tokyo on November 6. Toyota Motor has slashed its profit forecast, warning the global auto industry faces an ‘unprecedented’ crisis as Asian stocks tumbled on fears the US is sinking deeper towards recession. (Image courtesy AFP)

Nov. 6, 2008 Toyota Motor slashed its profit forecast Thursday, warning the global auto industry faces an ‘unprecedented’ crisis as Asian stocks tumbled on fears the US is sinking deeper towards recession. The Japanese giant became the latest automaker to reveal plunging profits due to the financial crisis, following on the heels of BMW, Nissan and Honda.

Daily Grunge Report

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Beijing swells dollar reserves through stealth

A woman walks past a sign featuring a fist holding U.S. dollars in central Beijing on Nov. 27, 2006. Photographer: Natalie Behring/Bloomberg News

Last Updated: 12:31am BST 26/08/2008 — Rule changes for commercial banks are acting as cover for exchange rate intervention, writes Ambrose Evans-Pritchard China has resorted to stealth intervention in the currency markets to amass US dollars, using indirect means to hold down the yuan and ease the pain for its struggling exporters as the global slowdown engulfs the economy.

* — ‘A Bundesbank study found 40 cents of every dollar spent by eurozone countries on oil imports comes back again one way or another. The figure for the US is just 10 cents.’

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