The House of Representatives could vote as early as Wednesday on a $15 billion plan to bail out and restructure U.S. automakers but the initiative may face possible roadblocks in the Senate, officials said.
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A $15bn Detroit Three bailout deal finally agreed between the Bush White House and congressional Democrats last night is headed for a House of Representatives vote later today (10 December) and likely to be passed up to the Senate by a narrow margin.
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Russia has increased import taxes on new cars to 30% from 25%.
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Volkswagen's finance operations have asked for German government loan guarantees for its banks.
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Japan's Suzuki Motor said on Wednesday that Chairman and Chief Executive Osamu Suzuki would double as president, returning to the post he held for more than two decades until 2000.
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French industrial production posted its largest annual fall on record in October, dragged down by the struggling car industry and adding to a grim outlook for fourth quarter growth. Output fell 7.
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French industrial production posted its largest annual fall on record in October, dragged down by the struggling car industry and adding to a grim outlook for fourth quarter growth. Output fell 7.
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Ford Motor said on Wednesday it was still evaluating an option to sell its Volvo car unit but declined to comment on a local media report which named its China partner Changan Automobile Group as a potential buyer.
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The White House and congressional Democrats on Tuesday night reached an agreement in principle on a $14 billion proposal for bailing out U.S. automakers and forcing them to restructure or fail, officials said.
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The White House and congressional Democrats on Tuesday night reached an agreement in principle on a $15 billion proposal for bailing out U.S. automakers and forcing them to restructure or fail, officials said.
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"Still no deal/bill" was a line emailed to Reuters by a senate republican leadership aide earlier today. It refers to the agreement congress is trying to finalize in order to avert a potentially catastrophic financial 'failure' of the 'Big 3'.
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The Paris-based Federation internationale de l'automobile FIA) and the Formula One Team Alliance (FOTA) have had the most successful meeting on Formula One matters which any of the participants can remember.
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Swiss driver Sébastien Buemi set again the fastest lap of the day at Jerez, driving the Ferrari-powered Toro Rosso. Takuma Sato and Sébastien Bourdais put their Toro Rossos in 2nd and 3rd places.
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For any car, getting back to its roots is usually an excellent move, particularly in the case of a brand's cherished child. Take the new Nissan Z; the boomerang has been perfectly thrown and in more ways than one.
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It is believed five teams have indicated they would consider signing up to Max Mosley's offer of a low-cost Cosworth powertrain package in 2010 and beyond.
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IRL and CART long-time team owner, Carl Haas accepted the Autosport John Bolster Award on behalf of the partnership he started in 1983 with the late Paul Newman for their contributions to motorsports.
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Former three-time World Champion Niki Lauda has voiced support for the majority of formula one teams that would like to postpone the introduction of expensive energy-recovery 'KERS' technology in 2009.
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For any car, getting back to its roots is usually an excellent move, particularly in the case of a brand's cherished child. Take the new Nissan Z; the boomerang has been perfectly thrown and in more ways than one.
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Renault has denied it is contemplating breaking ranks with its fellow manufacturers and accepting the FIA's proposals for effectively a standard engine formula.
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Takuma Sato has joined Sébastien Bourdais in admitting that the size of their respective sponsorship portfolios will play a major role in determining which contender will race with the Toro Rosso team in 2009.
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