General Motors

General Motors Corp. shares fell yesterday to their lowest level since 1954 after a Merrill Lynch & Co. analyst said the automaker may need to raise as much as $15 billion and faces the possibility of bankruptcy. The company's June U.S. auto sales fell 18 percent, as rising gasoline prices damped demand for pickups and sport-utility vehicles. Now the US faces what other nations have faced for years, its time the Americans changed their energy habits, drive smaller more economical cars instead of those big ugly Chev,Ford,Chrisler and so on...
Sales at Ssangyong Motor Co. the South Korean unit of China's biggest automaker, sank 32 percent last month as domestic customers shunned its sport-utility vehicles.
Brent crude for August delivery climbed as much as $1.49, or 1 percent, to a record $145.75 a barrel on London's ICE Futures Europe exchange. It was at $145.40 at 3:09 p.m. Singapore time.
U.S. gasoline inventoriies rose 2.1 million barrels to 210.9 million and supplies of distillate fuel, including heating oil and diesel, increased 1.3 million barrels to 120.7 million barrels, the Energy Department said in its report today.