It’s the news that General Motors and Chrysler have been desperate to hear – the US government has finally agreed to loan to help them stay afloat.
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General Motors' Australian unit Holden will build new small car in Australia alongside the Commodore from the third quarter of 2010 with support from the federal and South Australian governments.
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General Motors UK unit Vauxhall is reported to be in talks with unions over further cost-cutting measures.
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General Motors' equity may be largely if not entirely wiped out as it complies with the restructuring targets laid out in the U.S. auto bailout, an analyst at Credit Suisse said. "Over the next two months ...
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Canada at the weekend said it would follow the neighbouring United States by providing C$4bn (US$3.3bn) in emergency loans to the Canadian units of General Motors and Chrysler to keep them operating while they restructure.
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Yes, George W. Bush rescued General Motors and Chrysler LLC last week. But the Bush bailout left a host of thorny, unanswered questions as the two companies plot a path to survival.
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Canada will follow the United States by providing C$4 billion ($3.3 billion) in emergency loans to the Canadian arms of General Motors and Chrysler LLC to keep them operating while they restructure their businesses.
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The future sweet spot for Buick's car line will be the mid-sized segment, the top executive for General Motors' Buick-Pontiac-GMC sales channel says. The full-sized-car segment "has declined 35 percent this calendar year.
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Car dealers could throw a wrench into efforts by General Motors and Chrysler LLC to restructure by trimming marginal brands and dealerships. To cut costs, GM has said it wants to sell Hummer, and it might sell or close Saturn, too.
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A White House bailout of General Motors and Chrysler LLC won't prevent the collapse of North America's shakiest suppliers. Domestic and import brand automakers in North America are expected to produce 2.
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Canada will follow the United States by providing C$4 billion ($3.3 billion) in emergency loans to the Canadian arms of General Motors and Chrysler LLC to keep them operating while they restructure their businesses.
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The U.S. government is offering up to $17.4 billion in emergency loans to domestic automakers, providing some breathing room to General Motors and Chrysler LLC as they try to shore up their cash position and restructure.
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General Motors' credit rating was cut by Fitch Ratings today to "C," the last step above default, saying the threat of a bankruptcy remains after a $17.4 billion rescue plan for U.S. automakers.
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For General Motors and Chrysler LLC, the White House's $17.4 billion bridge loan is an early Christmas present.
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Sprinkled in among the resto-mods, classic cars and a Ford Tri-Motor airplane that cross the block at the Barrett-Jackson auction in Scottsdale, Ariz., in January will be some pieces of General Motors history.
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U.S. auto-parts suppliers want aid from the federal government, now that General Motors and Chrysler LLC have gotten approval for a $17.4 billion lifeline.
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General Motors must prove to lawmakers that it can be a viable company by the end of March. )x("",We're going to work on what's been put forth today, and that's our complete focus, said CEO Rick Wagoner during a press conference today.
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General Motors is "highly confident" it can meet the financial viability test set forth in a government bailout package, CEO Rick Wagoner said on Friday.
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General Motors Europe said it would continue with its cost-cutting program as its ailing parent received access to $17.4 billion in loans from the U.S. government.
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Stocks of automakers and parts suppliers jumped after President Bush's announcement that the executive branch will provide emergency bridge loans to the Detroit 3, amid a broad market gain. General Motors' stock price rose to $4.
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