Magna International and Fiat have improved their offers for General Motors unit Opel ahead of a crucial week in which the German government is expected to decide which bid it supports.
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Magna International and Fiat have improved their offers for General Motors unit Opel ahead of a crucial week in which the German government is expected to decide which bid it supports.
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Magna International and Fiat have improved their offers for General Motors unit Opel ahead of a crucial week in which the German government is expected to decide which bid it supports.
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German Economy Minister Karl-Theodor zu Guttenberg said Fiat had improved its bid for General Motors' Opel unit and said other bidders may be willing to sweeten their offers as well.
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Fiat S.p.A. has improved its bid for General Motors' Opel unit and said other bidders may be willing to sweeten their offers as well, German Economy Minister Karl-Theodor zu Guttenberg said.
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President Barack Obama said he is confident General Motors would thrive after restructuring while making no mention whether GM might have to enter bankruptcy to complete reorganization.
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President Barack Obama said he is confident General Motors would thrive after restructuring while making no mention whether GM might have to enter bankruptcy to complete reorganization.
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General Motors on Friday borrowed another $4 billion from the U.S. Treasury and won a cost-cutting deal from Canadian auto workers as a showdown with bondholders set the stage for a bankruptcy filing by the end of the month.
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General Motors on Friday borrowed another $4 billion from the U.S. Treasury and won a cost-cutting deal from Canadian auto workers as a showdown with bondholders set the stage for a bankruptcy filing by the end of the month.
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General Motors on Friday borrowed another $4 billion from the U.S. Treasury and won a cost-cutting deal from Canadian auto workers as a showdown with bondholders set the stage for a bankruptcy filing by the end of the month.
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The Senate Commerce Committee plans to call the CEOs of Chrysler LLC and General Motors to testify early next month about concerns over their plans to close hundreds of dealerships.
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Fiat S.p.A. CEO Sergio Marchionne said the outcome of his company's bid for General Motors' Opel unit was complicated by imminent German elections and it was difficult to say whether Fiat would be successful. "It's hard to say how it will end up.
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General Motors won a cost-cutting deal from its Canadian labor union on Friday, part of a package of concessions the automaker is expected to take into a federal bankruptcy court by the end of this month in a showdown with its bondholders.
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General Motors won a cost-cutting deal from its Canadian labor union on Friday, part of a package of concessions the automaker is expected to take into a federal bankruptcy court by the end of this month in a showdown with its bondholders.
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The Canadian Auto Workers said it reached a tentative deal to cut costs at General Motors' Canadian operations that will pave the way for a major GM restructuring package.
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The Canadian Auto Workers said it reached a tentative deal to cut costs at General Motors' Canadian operations that will pave the way for a major GM restructuring package.
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The Canadian Auto Workers said it reached a tentative deal to cut costs at General Motors' Canadian operations that will pave the way for a major GM restructuring package.
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The Canadian Auto Workers (CAW) union on Friday announced a tentative deal to cut costs at General Motors' Canadian operations that will pave the way for a major GM restructuring package.
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General Motors very likely will file for bankruptcy protection in the United States but the company is "trying to pull out all stops" to avoid doing the same in Canada, the Canadian Auto Workers union said on Friday.
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General Motors' biggest bondholders plan to reject the company's current offer for a 10 percent equity stake, a spokesman for the creditors said on Friday.
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