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 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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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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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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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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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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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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For years, Audi's 'T' designation stood for 'turbocharged'-- but the German automaker has begun defying its own nomenclature by applying it to cars motivated by a new supercharged V6. Drive one of the resulting vehicles, and you'll have to explain to your friends how a supercharger is technically a belt-driven turbo, and that the Germans use the terms interchangeably.
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Turbochargers used on automotive engines are well known for their ability to increase engine output. By forcing more air into the engine via the turbocharger's compressor, more fuel can be injected into the engine thus increasing its output. Using a turbocharger also makes an engine eco-friendlier.
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Some observers saw Friday as an easing of hostilities, but in truth dissident teams are no closer to accepting plans for budget capping in formula one.
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The NASCAR Camping World truck AAA Insurance 200 race at the Dover International Speedway's "Monster Mile" was supposed to be run on Friday evening but Mother Nature (rain) decided otherwise and the event was finally held Saturday evening after the Nationwide race.
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It seems like the same story all over again. Indeed, young sensation Kyle Busch (Camry No 18) seemed to have the Heluva Good! 200 Nationwide race in his pocket, as usual, but a tire situation where many competitors saw their right front tire failing at the "Monster Mile" Dover International Speedway racetrack caught up with Busch.
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Canadian Bruno Spengler will start the Lausitzring round of the DTM from 5th place.
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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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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 Robert Wickens, from Ontario, won Formula 2 rounds 1 and 2, this week-end in Valencia.
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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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General Motors will find out today if investors holding $27 billion in the automaker's bonds will accept an exchange offer as it races to tie up loose ends before a bankruptcy filing Monday.
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General Motors today finished a key piece of business before a bankruptcy filing planned for Monday as the deadline for bondholders to accept an exchange offer brokered by the Obama administration expired.
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Fiat SpA could turn to France's PSA/Peugeot-Citroen as a potential merger partner after its bid for Germany's Opel failed, but a deal would be full of complications.
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With the current economy the last thing you need is for your vehicle to break down. Whether your driving a reliable car or a busted up
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