U.S. Treasury Secretary Timothy Geithner said today that the government is ready to help Chrysler LLC and General Motors restructure, but he declined to comment in detail on new steps expected to be announced by the White House Monday.
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Germany's economy minister said on Sunday that there were a host of investors interested in General Motors' Opel unit, but warned they could not expect Berlin to assume all the financial risks linked to the company.
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General Motors chairman and CEO Rick Wagoner has agreed to "step aside" after pressure from the Obama administration last week, ending his eight-year tenure at the helm as the company seeks additional federal aid.
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The boards of Chrysler LLC and Fiat SpA have given executives approval to complete an alliance deal that hinges on the terms for additional aid for the Detroit automaker, according to people with knowledge of the discussions.
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The boards of Chrysler LLC and Fiat SpA have given executives approval to complete an alliance deal that hinges on the terms for additional aid for the Detroit automaker, according to people with knowledge of the discussions.
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The 2009 championship opener on Sunday lived up to its pre-season hype, with Jenson Button leading an eventful Brawn one-two at Albert Park.
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After watching his Virgin logos speed to one-two victory at Albert Park, Sir Richard Branson hinted his next step could be into the world of formula one team ownership. Meanwhile, the team has confirmed the British team has decided to shed nearly 40 per cent of its workforce.
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After watching his Virgin logos speed to one-two victory at Albert Park, Sir Richard Branson hinted his next step could be into the world of formula one team ownership.
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Canada could be set for a shock return to the formula one calendar, local Reseau des Sports cable channel reported on Sunday.
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The 2009 championship opener on Sunday lived up to its pre-season hype, with Jenson Button leading an eventful Brawn one-two at Albert Park.
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Following a stewards' inquiry, Jarno Trulli has been stripped of his podium finish in the Australian grand prix.In another stewards' decision, Sebastian Vettel was penalised ten places for his Australian grand prix crash with Robert Kubica.
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It goes without saying that purchasing a Suzuki Swift+ is not an emotional decision. It's a matter of necessity. And yet, few people are buying it. Less than 2,000 units have found takers in Canada last year, while overall econobox sales amounted to over 150,000 cars.
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A U.S. congressman has asked the Obama autos task force to withhold further emergency aid to Chrysler LLC until the automaker resolves a financial dispute with an Indiana county stemming from a failed parts joint venture. U.S.
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The Obama administration will set a strict deadline for General Motors and Chrysler LLC to reach cost-cutting deals with creditors and their major union even as it extends more aid to the automakers, the New York Times reported.
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President Barack Obama will announce the next steps to help General Motors and Chrysler LLC on Monday, the White House said, amid signs of progress for GM in talks aimed at slashing its debt and cutting costs in response to slack demand.
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President Barack Obama will announce the next steps to help General Motors and Chrysler LLC on Monday, the White House said, amid signs of progress for GM in talks aimed at slashing its debt and cutting costs in response to slack demand.
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Amidst thumping techno and inside his own rocket factory, Tesla founder and CEO Elon Musk pulled the cover off his much-anticipated second car onThursday.
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According to some cynics in the Melbourne paddock, Saturday's qualifying result proved that KERS is set to fade even before it becomes fashionable in formula one.
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Ryan Hunter-Reay was set to drive for HVM Racing after testing with the team last week but, according to reports, the American will be announced as Vision Racing's second driver in the coming days.
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Shortly before Saturday morning practice, Sir Richard Branson announced the Virgin brand's "substantial sponsorship" of the Brawn team.
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