Magna has issued a statement saying that it looks forward to working with GM, the German governments and other stakeholders as it seeks to 'turn our concept into a reality'.
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As part of its restructuring under U.S. bankruptcy protection, General Motors today unveiled the 14 production facilities slated to idle or close by year-end 2010. Four assembly plants will close or idle: Wilmington, Del.; Pontiac, Mich.
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General Motors today released its latest list of impending plant closings as it looks to restructure in bankruptcy. GM did not disclose where it would build the small car it plans to produce in the United States.
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President Barack Obama said today that a court's approval of the sale of Chrysler's assets to a group led by Italy's Fiat S.p.A. will allow the automaker to emerge stronger from bankruptcy.
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French unions at tyre maker Continental said on Sunday they had won an agreement from management to give them a minimum pay-off of EUR50,000 (US$69,970) in compensation for the plant's closure.
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General Motors, the largest U.S. automaker and one of the industrial icons that helped define the nations economic growth and prosperity for most of the 20th century, filed for bankruptcy Monday morning in New York.
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Volvo presented a new concept car on Monday that combines a plug-in charged lithium battery with a diesel engine, technology which it aims to have on the market in 2012.
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Three authors who have made names for themselves by exposing General Motors' weaknesses say bankruptcy will provide the best chance for a long-term fix.
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General Motors filed for bankruptcy today, forcing the 100-year-old automaker once seen as a symbol of American economic might into a new and uncertain era of government ownership. The filing is the third-largest in U.S.
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Robert Gerber, the federal bankruptcy judge assigned to the General Motors case, has overseen plenty of major, complex bankruptcy cases, but perhaps none as complicated as that of GM's.
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Judge Robert E. Gerber will oversee the bankruptcy of General Motors, filed at 7:57 a.m. today. Gerber, 62, became a judge for the U.S. Bankruptcy Court for the Southern District of New York in 2000.
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The decision to push General Motors into a fast-track bankruptcy and revive the failed American industrial icon with unprecedented federal funding and oversight marks a huge gamble for the Obama administration.
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General Motors filed for bankruptcy today, forcing the 100-year-old automaker once seen as a symbol of American economic might into a new and uncertain era of government ownership. The filing is the third-largest in U.S.
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General Motors filed for bankruptcy today, forcing the 100-year-old automaker once seen as a symbol of American economic might into a new and uncertain era of government ownership. The filing is the third-largest in U.S.
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Japan's top finance bureaucrat Kazuyuki Sugimoto said on Monday that problems at General Motors were not causing major turmoil for the Japanese auto sector.
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Volvo Cars said it has teamed up Swedish utility company Vattenfall in a joint venture to develop a new diesel-electric hybrid car that can be charged using a standard household wall socket.
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Hyundai Motor India car sales in May rose 8.4% year on year as exports rose 27.8%.
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With General Motors following Chrysler today onto the rust heap of tarnished brands, there are plenty of shoulda-coulda-wouldas to be found.
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Despite the global economic downturn putting a damper on vehicle production, Matthew Beecham finds out how shock absorber manufacturers are thriving.
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US Treasury Secretary Timothy Geithner said on Monday he was optimistic that US automakers would emerge from bankruptcy without the need for future government help.
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