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Apr
23rd

Canada in talks on funding for GM, Chrysler, Globe says

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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 and Chrysler LLC, The Globe and Mail reported, citing people familiar... Full story...
Apr
23rd

Report: Canada in talks on funding for GM, Chrysler

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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. Full story...
Apr
23rd

US: Chrysler talks continue as deadline looms

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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. Full story...
Apr
23rd

Fiat still in Chrysler talks; no comment on possible Opel deal

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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. Full story...
Apr
23rd

Fiat still in Chrysler talks; no comment on possible Opel deal

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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. Full story...
Apr
23rd

Fiat plans to take over Opel, labor boss says

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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. Full story...
Apr
23rd

Fiat says still in talks on Chrysler; no comment on possible Opel takeover

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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. Full story...
Apr
23rd

Pininfarina banks clear 2nd phase of debt plan

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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. Full story...
Apr
23rd

Continental to present strategic concept soon

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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. Full story...
Apr
23rd

US: GM planning long summer closure, bond payment deferral

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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. Full story...
Apr
23rd

US: GM said to be planning long summer closure

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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. Full story...
Apr
23rd

NETHERLANDS: TomTom Q1 loss beats analysts’ estimates

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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. Full story...
Apr
23rd

JAPAN: Toyota Auto Body ups fiscal year estimates

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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. Full story...
Apr
23rd

JAPAN: Toyota slashes management bonuses

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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. Full story...
Apr
23rd

GERMANY: Spanish Seat plant to build new Audi SUV

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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. Full story...
Apr
23rd

VW CEO praises Porsche alliance, sees 2009 profit

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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. Full story...
Apr
23rd

Robert Bosch to cut jobs, sees tough 2009

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Robert Bosch will cut an unspecified number of jobs this year in Germany and abroad as its sales slump. Full story...
Apr
23rd

Hyundai Q1 net profit beats forecasts

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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. Full story...
Apr
23rd

Toyota Q1 global sales fall 27%, VW closes gap

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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. Full story...
Apr
23rd

Toyota Q1 global sales fall 27%; VW closes gap

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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. Full story...
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