Bernanke says no recovery without more bank aid

Date: Tue, 13 Jan 2009 12:01:57 -0500

Bernanke says no recovery without more bank aid

There will be no lasting recovery without further government action
and funds to strengthen the financial system, with the timing of an
economic recovery. "highly uncertain," Federal Reserve chief Ben
Bernanke tells a London audience.

ECONOMIC REPORT: TRADE DEFICIT PLUNGES ON FALLING DEMAND, PRICES

The U.S. trade balance with the rest of the world amounts to $40.4
billion in November, plunging 29% on a record decline in oil prices
and much weaker demand for imports, Commerce Department data show.

SONY SEEN REPORTING FIRST OPERATING LOSS IN 14 YEARS

Japanese electronics major Sony Corp. is expected to report its first
operating loss in 14 years as demand for flat-screen televisions and
other consumer products sags and profit margins are pared by a strong
yen, according to a media report Tuesday.

FACING MORE LOSSES, ALCOA'S COST CUTS MAY DEEPEN

Alcoa's wider-than-expected loss could be the start of a series of
quarters in the red for the aluminum giant as it faces the prospect of
cutting costs further to conserve cash, analysts say. At risk is the
blue chip's dividend.

ELAN RALLIES AS IRISH DRUGMAKER PLANS REVIEW

Shares of Elan rally as much as 17% in Dublin as the Irish drugmaker
puts itself on the block following the troubles surrounding key
multiple sclerosis and Alzheimer's drugs.