THE US Treasury announced overnight a rescue of a money market fund operated by investment manager The Reserve, with some $US6.3 billion ($10.3 billion) in assets.

"The Treasury has agreed to serve as a buyer of last resort for the fund's securities, which consist of short-term US government and government sponsored enterprise securities,'' the Treasury said.

"This action is being taken to ensure that the fund is liquidated in an orderly and timely fashion.''

THE Big Three US carmakers must come up with "solid, clear, accountable business plans"to survive a sales slump and current financial turmoil, Canada's industry minister said.

"The current situation can only be resolved with solid, clear, accountable business plans from the automakers and their stakeholders,'' Industry Minister Tony Clement said after meeting with executives of Ford, Chrysler and General Motors in Detroit, and top officials in Washington about a bailout.

WITH Citigroup stock value plunging, top executives at the financial giant are considering the sale of all or parts of the company, the Wall Street Journal reported on its website. The debate within the company is at a "preliminary stage,'' and officials said the company has "ample capital, funding and strategic direction,'' the daily said. (www.news.com.au)