News Today - July 13

* Goldman Sachs , which only recently paid back its government bailout money, will report blowout profits from trading, the New York Times reports.

* China has for the first time overtaken the United States as the world’s largest auto market with sales of locally-made vehicles surging 17.7% to 6.1 million units in the first six months this year.

* US Treasury Secretary Timothy Geithner said it was too soon to decide whether the US economy would need the help of a second round of government stimulus to recover from recession.

* Singapore’s economy probably expanded for the first time in five quarters as a rebound in manufacturing helped the Southeast Asian nation emerge from its worst recession since independence in 1965. Gross domestic product rose an annualized 13.4 percent last quarter from the previous three months, after shrinking 14.6 percent between January and March, according to the median estimate of 12 economists surveyed by Bloomberg News.