French unions at tire maker Continental AG said on Sunday they had won an agreement from management to give them a minimum payoff of 50,000 euros ($69,970) in compensation for the plant's closure.
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General Motors has tens of billions of dollars in government backing, a grudging labor peace and the support of its big bondholders as it gets ready for what is intended to be a swift dash through one of the biggest bankruptcy cases in U.S. history.
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General Motors has tens of billions of dollars in government backing, a grudging labor peace and the support of its big bondholders as it gets ready for what is intended to be a swift dash through one of the biggest bankruptcy cases in U.S. history.
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BERLIN (Reuters) -- The budget and finance committees of two German states with large Opel plants on Sunday endorsed a deal with Magna International, General Motors and the U.S. government to save Opel from the bankruptcy of its parent.
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Italy's government is under fire from unions and opposition politicians for not doing enough to help Fiat S.p.A. persuade Germany that the automaker would be the best partner for Opel, the European arm of General Motors.
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Italy's government is under fire from unions and opposition politicians for not doing enough to help Fiat S.p.A. persuade Germany that the automaker would be the best partner for Opel, the European arm of General Motors.
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U.S. auto sales likely rose in May to a close to 10 million unit annualized rate, supported by sales at closing Chrysler dealerships in the past week, Ford Motor Co.'s chief sales analyst said. That would be the highest rate since January's 9.
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U.S. auto sales likely rose in May to a close to 10 million unit annualized rate, supported by sales at closing Chrysler dealerships in the past week, Ford Motor Co.'s chief sales analyst said. That would be the highest rate since January's 9.
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U.S. auto sales likely rose in May to a close to 10 million unit annualized rate, supported by sales at closing Chrysler dealerships in the past week, Ford Motor Co's chief sales analyst said.
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Union leaders have urged the British government to do more to safeguard jobs at Vauxhall after Germany announced a deal to save the European arm of General Motors.
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General Motors and the U.S. government finalized plans today for the company to reorganize, setting the stage for America's largest-ever industrial bankruptcy and heralding a new and uncertain era for the No. 1 U.S. automaker.
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General Motors and the U.S. government finalized plans on Sunday for the automaker to reorganize, as a majority of debtholders helped clear the way to a massive bankruptcy filing Monday.
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Investors representing about 54 percent of General Motors' $27.2 billion of bonds indicated support for a U.S. Treasury-brokered swap that could help speed the automaker's way through bankruptcy.
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Swedish carmaker Saab is in a difficult position after being left out of the deal by General Motors to sell its German unit Opel, Prime Minister Fredrik Reinfeldt was quoted as saying on Saturday.
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A majority of General Motors bondholders have agreed to a debt-for-equity exchange, smoothing the way to a bankruptcy filing expected on Monday, a source familiar with the voting said today.
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General Motors finished a key piece of business on Saturday before a bankruptcy filing planned for Monday as the deadline expired for bondholders to accept an exchange offer brokered by the Obama administration.
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Current champion Scott Dixon can thanks late heavy traffic for helping him take victory over Team Penske's Ryan Briscoe at the IndyCar race at the Milwaukee Mile denying the Australian with a second year in a row win.
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Canadian Robert Wickens, from Ontario, won Formula 2 rounds 1 and 2, this week-end in Valencia.
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In hot and dusty conditions, championship defendant Pat Richard and Alan Ockwell won the 2009 Rocky Mountain Rally, round two of six in the Canadian Rally Championship.
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Canadian Bruno Spengler started the DTM race at the Lausiztring in 5th place and drove a strong race to claim second position behind his teammate Gary Paffett.
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