The governments of Canada and Ontario are in advanced negotiations to provide bankruptcy financing of as much as $6 billion for the Canadian operations of General Motors and Chrysler LLC, The Globe and Mail reported, citing people familiar...
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The governments of Canada and Ontario are in advanced negotiations to provide bankruptcy financing of as much as $6 billion for the Canadian operations of General Motors Corp.
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Chrysler is racing to agree a viable restructure with creditors, Fiat, the US Treasury and other stakeholders with just a week to go to the government's deadline.
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Fiat said today that it is still in talks to form a partnership with Chrysler as speculation mounted that the Italian automaker plans to take a majority stake in General Motors' Opel/Vauxhall brands.
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Fiat said today that it is still in talks to form a partnership with Chrysler as speculation mounted that the Italian automaker plans to take a majority stake in General Motors' Opel/Vauxhall brands.
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Fiat plans to take a majority stake in General Motors' Opel/Vauxhall brands, Opel labor boss Klaus Franz told the German press agency DPA today.
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Fiat said today that it is still in talks to form a partnership with Chrysler as speculation mounted that the Italian automaker plans to take a majority stake in General Motors' Opel/Vauxhall brands.
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Financial institutions representing 94 percent of Pininfarina's financial exposure have cleared a second phase of a financial restructuring plan set up last December, the Italian car designer said on Thursday. Pininfarina shares opened 15.
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Continental AG plans to present investors with an overall strategic concept in the next 100 days at the latest, its CEO Karl-Thomas Neumann said.
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General Motors is planning to shut most of its US vehicle assembly plants for up to nine weeks this summer, US media reports said last night.
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General Motors is planning to shut most of its US vehicle assembly plants for up to nine weeks this summer, US media reports said last night.
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Netherlands-based navigator maker TomTom has posted a loss of EUR11m (US$14m) before interest and taxes (EBIT), excluding extraordinary items, for the first quarter of 2009 compared with a EUR6m loss a year ago.
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Toyota Motor SUV specialist SUV assembly unit Toyota Auto Body has revised its group pretax estimate for fiscal 2008/9 up from the preciously projected JPY3.5bn loss to a JPY600m profit after numerous cost cutting measures.
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Toyota will cut summer bonuses for 8,900 managers by an average of 60% compared with 2008 due to the global auto industry downturn, according to a company spokeswoman.
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Audi has decided to make its new Q3 small SUV in Barcelona, Spain, and has postponed any decision on making cars in the US where parent Volkswagen is building a new plant in Tennessee.
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Volkswagen CEO Martin Winterkorn said on Thursday he expected a group profit in 2009 despite a car market slump. Winterkorn also praised VW's cooperation with Porsche, which holds 51 percent of VW.
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Robert Bosch will cut an unspecified number of jobs this year in Germany and abroad as its sales slump.
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Hyundai Motor today reported a smaller-than-expected 43 percent fall in quarterly net profit as a weak currency helped cushion it from falling sales and higher marketing costs. Hyundai posted a net profit of 225 billion won ($166.
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Toyota Motor Corp said on Thursday its group-wide sales fell 27 percent to 1.767 million vehicles in the first quarter of 2009, keeping it ahead of Volkswagen group as the world's top-selling carmaker.
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Toyota Motor Corp said on Thursday its group-wide sales fell 27 percent to 1.767 million vehicles in the first quarter of 2009, keeping it ahead of Volkswagen group as the world's top-selling carmaker.
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