| GEO Business | | US auto bailout wins boost but global economic woes mount | Updated at: 1315 PST, Thursday, December 11, 2008
 WASHINGTON: US House legislators approved a massive government bailout of the ailing auto industry as a raft of fresh data offered further evidence of a deep and painful global recession.
In Washington, the House of Representatives approved the 15-billion-dollar bailout for the auto sector following hours of furious debate after lawmakers and the White House worked out a deal to avert an industry collapse.
However, the plan, which calls for emergency government loans to the carmakers within days, now faces stiff Republican opposition in the Senate, where the Democrats have only a narrow majority. |  |
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