BEIJING-The Chinese government is cutting fuel prices for the first time in almost two years in an effort to help manufacturers reduce costs and remain competitive. MORE

TOULOUSE, France-The European Aeronautic Defense and Space Co. is planning to fold its Military Transport Aircraft Division in with its Airbus airliner business as part of an ongoing effort to streamline operations. MORE

TOKYO-Honda has sharply downgraded its sales projections for the coming months and says it anticipates losing more than $2.1 billion through March 2009. MORE

MEXICO CITY-General Motors Mexico is temporarily shutting down assembly lines at three of its Mexican car factories in response to falling demand. MORE

TOKYO-Despite already having invested some $300 million in the facility, Toyota Motor Corp. is putting its Blue Spring, MS, Prius plant on hold due to the current recession. MORE

WASHINGTON-The White House says a bailout package for the Big Three automakers could be completed by as early as this Wednesday. MORE

DETROIT-General Motors will cut North American production to 425,000 vehicles in the first quarter of 2009, fewer than half the total it built in the first quarter of 2008. MORE

TOKYO-Toyota and other Japanese carmakers say the bankruptcy of any of Detroit's Big Three would spell serious trouble for them as well. MORE

WASHINGTON-The White House is signaling that a relief plan for embattled U.S. automakers is on the way. MORE

CANTON, IL-Cook Medical Group will begin construction here this month on a new assembly plant for medical devices. The 45,000-square-foot plant is expected to be complete by fall 2009. The $5-million factory will initially employ 50 to 75 people and is expected to grow to an estimated 300-plus employees over a few years. MORE