TOKYO-Toyota Motor Corp. President Katsuaki Watanabe is said to be stepping down in the wake of his company’s recent losses. MORE

BEIJING-The Chinese government has cut interest rates for the fifth time in four months in yet another effort to revive economic growth. MORE

TOKYO-For the first time in more than seven decades, Toyota Motor Corp. is losing money. MORE

SEOUL, South Korea-Korea’s Ssangyong Motor is saying won’t be able to pay its workers on time this month. MORE

RICHMOND, VA-Fitness machine maker Nautilus is expanding its manufacturing facility in Grayson County, creating 60 jobs. The $1.7 million expansion will add an assembly line for cardio exercise equipment. MORE

AUSTIN, TX-Caterpillar Inc. will move one of its primary global assembly, test and paint facilities to Texas, creating more than 1,400 jobs. The state will invest $10 million in the company through the Texas Enterprise Fund, as a deal-closing incentive. MORE

WASHINGTON-The Bush administration has agreed to provide the troubled Big Three domestic automakers with $17.4 billion in loans. MORE

MOSCOW-Russian Prime Minister Vladimir Putin is reportedly telling foreign carmakers like Ford and Renault that they will be eligible for financial air from his government. MORE

AUBURN HILLS, MI-The Big Three continue to make drastic cuts in an effort to weather the current economic storm. MORE

DETROIT-After suspending talks a few weeks ago in the face of cash problems, Chrysler and GM are said to be talking about a possible merger again. MORE