Dollars & Sense

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Oil prices fall more than $6 a barrel

Oil prices tumbled more than $6 a barrel Friday -- the biggest one-day percentage plunge in nearly four years -- after a rebounding dollar and a Russian troop pullback in Georgia sparked another frenzied sell-off. Crude's nose dive wiped out all the gains from the previous day's big rally and reaffirmed the belief that high energy prices and a softening global economy are cutting into consumer demand for fossil fuels in the United States and overseas. Light, sweet crude for October delivery fell $6.59, or 5.43 percent, to settle at $114.59 a barrel on the New York Mercantile Exchange. Crude prices had risen for three straight days, including an almost $6 rally Thursday.

Automakers seek support for loans

Automakers plan to urge Congress to support funding up to $50 billion in low-interest loans over three years to help them modernize their assembly plants and develop next-generation fuel-efficient vehicles. Industry officials said the loans, which are twice the amount authorized in last year's energy bill, are a top priority when Congress returns next month because of the declining fortunes of Detroit's automakers and tightening credit markets. Congress authorized $25 billion in low-interest loans in last year's energy bill, but the auto industry's allies in Congress have been unable to get funding for the plan. The loans would provide low-interest credit for up to 30 percent of the cost of retooling plants to build hybrids, plug-in hybrids, electric cars and other alternatives.

Federal regulators shut Kansas bank

Federal regulators are shutting down a Kansas bank, Columbian Bank and Trust Co. The Federal Deposit Insurance Corp. on Friday was appointed receiver of Columbian Bank of Topeka, Kan., which had $752 million in assets and $622 million in deposits as of June 30. The FDIC said the bank's deposits will be assumed by Citizens Bank and Trust of Chillicothe, Mo. Its nine offices will reopen Monday as branches of Citizens Bank. Depositors of Columbian Bank will continue to have full access to their deposits, the agency said. It was the ninth failure this year of an FDIC-insured bank.

Coming Sunday

If you're having trouble falling asleep and staying sleep, you've got lots of company. A survey by Consumer Reports found the problem is widespread, as is the use of drugs to treat it, but there are alternatives.