11 minutes ago WASHINGTON (Reuters) - Total sales at retailers rose a less-than-expected 0.1 percent in June, as auto sales had their biggest drop in more than two years, a Commerce Department showed on Tuesday.Auto and auto parts sales fell 3.3 percent in June, their worst month since February 2006. They tumbled 9.5 percent from a year earlier.
In Detroit, General Motors Corp. (GM.N) announced on Tuesday morning it would cut salaried employment costs by 20 percent, sell up to $4 billion of its assets and borrow at least $2 billion to boost its liquidity by $15 billion through 2009.
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