700 billion Dollar financial rescue plan extended to next year

Xinhua Beijing December 10 by the material stocks and technology stocks boosted, 9th New York stock market shocks, including the Dow Jones closed 10337.05 points, up 0.5%.　　The international oil price fell for the sixth consecutive trading day on 9th, with the price of crude oil futures in New York market closing at $70.67 a barrel, the lowest close in two months, after last week's rise in commercial inventories.　　U.S. Treasury Secretary Timothy Geithner said he decided to extend the 700 billion dollar financial rescue plan to October 3 next year, given that the US financial system has not been repaired and that the U.S. economy is still facing serious challenges.　　The US Treasury Department announced that the Government had received 45 billion dollars in advance from Bank of America's financial bailout, and the government had recovered $116 billion in financial aid.　　U.S. corporate inventories rose 0.3% in October, the first rally since the data fell for 13 consecutive months.　　The company downgraded the outlook for Spain's sovereign credit rating to a negative, saying it would face a downgrade in the next two years if Spain did not solve its fiscal deficit as soon as possible.　　The European Commission's Commissioner for Economic and Monetary Affairs, Mr Almunia, said the European Union was ready to help the Greek government to put in place a reform plan aimed at overhauling its fiscal deficit.　　Volkswagen announced it would build a "close long-term strategic partnership" with Japan's Suzuki motor, with VW offering 2.5 billion dollars to buy Suzuki's 20% stake.　　The UK has announced a tax of 50% on bankers ' bonuses of more than 25,000 pounds, which applies not only to all British banks but also to branches of foreign banks operating in the UK.　　Britain's economy is set to resume growth this year, but the UK economy will shrink by 4.75% this year, Chancellor Darling said.　　Brazil has announced that it will offer concessional loans to non-financial companies to further stimulate economic recovery, while eliminating some taxes in areas such as oil and wind energy.　　Qatar has suggested linking gas prices to international oil prices to change the state of low gas prices. The first "Sino-British Economic and trade Cooperation Fair" was held in London, and the two sides announced the creation of an "Anglo-Chinese Enterprise docking project" aimed at promoting cooperation between China and the UK.