NATION

NATION

Delphi Corp. reschedules court hearing for Dec. 1

NEW YORK — Delphi Corp. on Monday pushed back a court hearing to change the terms of $4.35 billion in bankruptcy loans, an effort to give the company some breathing room amid a seizure of the credit markets.

The auto parts maker rescheduled Monday’s hearing for Dec. 1 after its former parent, General Motors Corp., asked for a delay.

OHIO

State asks Washington for jobless fund help

COLUMBUS — Ohio has asked the federal government for $550 million to help shore up a state unemployment compensation fund hit hard by the shrinking economy.

The letter sent Friday to U.S. Labor Secretary Elaine Chao asks for $50 million in December, and $250 million in both January and February. The state’s unemployment benefits fund is facing a spike in claims at the same time it’s seeing a drop in revenue collected through taxes on businesses.

The fund currently holds about $277 million, down from $594 million a year ago and far below what the state regards as the minimum safe level of $2.5 billion.

Associated Press