UK carmakers ask for aid as sales see sharp decline

FT 19 Nov 2008
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UK carmakers ask for aid as sales see sharp decline
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Britain's car industry yesterday became the latest to ask for government financial aid and tax breaks to address "unprecedented(前代未聞の） circumstances" this year.
In Germany , General Motors' Opel unit this week held talks with the government on euro 1 bn worth of loan guarantees to shore up(立て直す、支援する） its liquidity.
Germany's carmakers have asked that their financing arms be eligible for state credit guarantees under that country's bailout programme for banks. Talks are still ongoing.


$40 oil price predicted
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Oil companies expect prices to fall and will cancel most planned investment projects even at current levels, said Fu Chengyu, head of China National Offshore Oil Corporation . A meeting of oil companies in Beijing predicted prices would fall to $40 a barrel, he said.