General Motors won permission from European Union regulators on Thursday to acquire the steering business of bankrupt automotive parts supplier Delphi Corp.
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Chrysler LLC will proceed with Chapter 11 bankruptcy protection now that talks with debt holders have broken down, an Obama administration official said Thursday.
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Italian Industry Minister Claudio Scajola welcomed on Thursday news of a deal between Chrysler LLC and Fiat , saying he would work to facilitate dialogue with Italian trade unions.
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Italian Industry Minister Claudio Scajola welcomed on Thursday news of a deal between Chrysler LLC and Fiat , saying he would work to facilitate dialogue with Italian trade unions.
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WASHINGTON (Reuters) -- Chrysler LLC will file for Chapter 11 bankruptcy protection as it forms a partnership with Italian automaker Fiat S.p.A., President Barack Obama said today.
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Chrysler LLC's anticipated bankruptcy filing will take place today in U.S. Bankruptcy Court in Manhattan, according to sources with direct knowledge of the situation.
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Chrysler LLC will file for Chapter 11 bankruptcy protection in a New York court "almost immediately" and expects to emerge within 60 days in an alliance with Fiat S.p.A., senior White House officials said today.
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Chrysler LLC's anticipated bankruptcy filing will take place today in U.S. Bankruptcy Court in Manhattan, according to sources with direct knowledge of the situation.
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Chrysler LLC filed for Chapter 11 bankruptcy protection today in New York and expects to emerge within 60 days in an alliance with Fiat S.p.A., senior White House officials said today.
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Chrysler LLC will file for Chapter 11 bankruptcy protection in a New York court "almost immediately" and expects to emerge within 60 days in an alliance with Fiat S.p.A., senior White House officials said today.
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President Obama has confirmed that Chrysler is to enter Chapter 11 bankruptcy protection after failing to persuade its main lenders to write off debts.
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President Obama has confirmed that Chrysler is to enter Chapter 11 bankruptcy protection after failing to persuade its main lenders to write off debts.
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Belgium's Flemish government has proposed a sale and leaseback deal with General Motors that could mean a windfall of 200 million euros ($266 million) for the struggling auto company, it said in a statement on Thursday.
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Tenneco Inc. posted a first-quarter loss on Thursday as vehicle production plunged amid a deep recession. The company posted a net loss of $49 million in the quarter, compared with a profit of $6 million, a year earlier.
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Tenneco Inc. posted a first-quarter loss on Thursday as vehicle production plunged amid a deep recession. The company posted a net loss of $49 million in the quarter, compared with a profit of $6 million, a year earlier.
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Partsmaker BorgWarner Inc. reported a quarterly loss on Thursday as vehicle production plunged amid a deep recession. The company posted a first-quarter net loss of $7 million compared with earnings of $88.7 million a year earlier.
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Partsmaker BorgWarner Inc. reported a quarterly loss on Thursday as vehicle production plunged amid a deep recession. The company posted a first-quarter net loss of $7 million compared with earnings of $88.7 million a year earlier.
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A senior UK government minister is organising talks between banks and a potential buyer for van maker LDV according to a British media report.
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Avtoframos has suspended production until May 11 due to lower sales in Russia this year.
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Magna chief executive Frank Stronach has said the firm has no plans for a direct stake in Opel.
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