Chrysler faces its day of judgement today (27 May) as a bankruptcy court judge rules on a sale of its key assets to give the ailing automaker a fresh start in a partnership with Italy's Fiat.
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The German cabinet could agree to grant Opel bridge financing, finance minister Peer Steinbrueck said on Wednesday.
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An acquisition of Opel by Beijing Automotive Industry Corp (BAIC), the fourth interested party that did not make it before the deadline for the official bids, would be strategically sensible, experts have said.
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As the race for Opel enters a critical phase in which the German government chooses a preferred bidder, analysts are concluding that the political backdrop in Germany and the need for concessions on capacity reductions threatens to undermine the benefits that a Fiat-Opel merger could bring.
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The clock is ticking for GM Europe!
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Best shots yet reveal innovative MPV's interior for first time.
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Design studies show how BMW, Lamborghini and Ferrari supercars could look
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Brilliant Button turns on the magic in Monaco.
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Details on Ford's new Focus-based Capri, MINI celebrates its 50th birthday, Escort Cosworth faces of against new Focus RS, Ford Mustang driven
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The future of General Motors' Opel, Vauxhall and Saab divisions should be settled at a European level and not country by country, Belgium's prime minister, and premier of the Flanders region where Opel's Antwerp factory employs 2,600 workers, has said.
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A General Motors bankruptcy - the largest ever in US industrial history - now appears inevitable after the automaker failed to persuade enough bondholders to accept a debt-for-equity swap last night.
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Saudi Arabia, one of the Middle East's biggest car markets, may suffer its first drop in car imports in 10 years as a crisis hits the oil-based economy, according to analysts and traders.
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With the German government expected to make its decision on who it favours to buy a majority share in General Motors' Opel unit tonight (Wed), Fiat's bid was boosted as Italy's second largest lender, Intesa Sanpaolo, said it was ready to provide Fiat with financial support.
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In today's News Brake: Formula One teams have shut the door on Williams; GM to join Chrysler in bankruptcy court, Paul Tracy has plans beyond the 500... But Wait, There's More!
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In today's News Brake: Formula One teams have shut the door on Williams; GM to join Chrysler in bankruptcy court, Paul Tracy has plans beyond the 500... But Wait, There's More!
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Opel's supervisory board was holding an extraordinary meeting on Wednesday morning to decide on the carmaker's legal separation from its parent General Motors, a person familiar with the matter has said. It has also emerged that a Chinese automaker has submitted a last-minute bid.
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The German government has decided to give Fiat and Magna preferred bidder status for General Motors' Opel unit and grant them access to the automaker's books, the German daily Die Welt said.
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The German government has decided to give Fiat and Magna preferred bidder status for General Motors' Opel unit and grant them access to the automaker's books, the German daily Die Welt said.
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The German government has decided to give Fiat and Magna preferred bidder status for General Motors' Opel unit and grant them access to the automaker's books, the German daily Die Welt said.
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Germany scrambled today to put a plan in place to protect Opel from a looming bankruptcy filing by its U.S. parent General Motors.
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