GM today recalled 1.5 million cars and SUVs over fire hazard fears in heated washer fluid systems. It's also easing back on planned dealership cuts.

BP buys "oil spill" and related search terms in bid to promote $1.25B clean-up operation. President Obama will make his fourth trip to the Gulf on Monday, while BP CEO Tony Hayward will testify on Capitol Hill next Thursday.

Disney is pulling the plug on its ESPN Zone branded sports bars, a source tells the L.A. Times.

Christian Lacroix designs preserved by French museum.Continue reading...

With the help of Kenneth Cole, Macy's will launch another lower-priced brand. [Crain's]

Online grocery store Fresh Direct created an iPhone app for New York. [WSJ]

Sony, Intel team up for The Rocket Project, designed for students. [BrandFreak]

Not yet saved from bankrupcy, Christian Lacroix continues to create more lines. [NY Mag]

Akoo Jeans' controversial billboard in Newark will be taken down. [Huffington Post]

NBC's new sitcom 'Parenthood' will be exclusively sponsored by Nissan. [Brandweek]Continue reading...

It’s an odd paring: the fashion industry and a recession -- like a peacock standing in a mud puddle.

Not only does the flamboyant nature of the fashion business clash in a very unflattering way with the subdued and depressing reality of a global financial downturn, but it also raises a rather obvious question:

How do iconic fashion houses survive in tough economic times like these? Christian Lacroix closed its doors last year due to the tough economy. Are other fashion houses to follow?

Not Christian Dior, if the brand’s appearance in this week’s Haute Couture Fashion Show in Paris is any indicator.Continue reading...

GM asks CEO Fritz Henderson to resign. [NY Times]

AIG awards the Federal Reserve a $25 billion stake in two companies in leiu of loan payments. [NY Times]

Ford strives to make the Focus a "global car." [WSJ]

JC Penney signs a deal with Europe's hot retailer Mango. [MediaPost]

To Bank of America's dismay, two top candidates for CEO have suggested breaking up the company. [WSJ]

Saab to shut down. Saab to sell. Saab to splinter. Now: In the new year, we'll decide on something. [FT]

Northrop threatens to withdraw a bid before the Pentagon over competition with Boeing. [NY Times]

Christian Lacroix will, in fact, shut down. [Times of London]

(More headlines: Microsoft store, Bebida rebrands as BeBevCo.)Continue reading...

Reaching a tentative agreement with Vivendi, GE prepares for sale of NBCU. [NY Times]

Reps from Saab and the Swedish government in Detroit to meet with GM. [USA Today]

Kraft finalizes formal bid for Cadbury, again. [Times of London]

Geely Automotive strikes deal with Ford over intellectual-property rights, as part of Volvo bid. [WSJ]

eBay fined $2.5 million in brand resale case, plans to appeal decision. [CNET]

Christian Lacroix may be forced to liquidate. [Times of London]

Timberland and Reliance Brands announce partnership in India. [Boston Globe]

(More headlines: Waterford, Disney's Princess Tiana, Tiger Woods.)Continue reading...