General Motors said Friday that it plans to build a small, fuel-efficient car in the United States that will compete in the B-segment as the company tries to comply with stiffer mileage mandates recently proposed by the Obama administration.
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Advisers to General Motors bondholders representing $27 billion in the automaker's debt urged investors today to support a debt swap negotiated over the past week with the Obama administration.
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The Obama administration will offer US car dealers loans of up to US$2m to help buy vehicles and maintain inventories, members of the Senate's Small Business Committee have said.
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The Obama administration has estimated that a General Motors bankruptcy would take at least 60 to 90 days and perhaps longer to complete and is also planning an extraordinary offensive beginning on 2 June of sending senior officials to Midwest communities most affected by job losses and other aspects of GM and Chrysler bankruptcies.
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Impact from the likely bankruptcy of General Motors would be limited on Japanese firms if the US government prepared a safety net, a senior industry ministry official has said.
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In all likelihood, June 1st will be the day that GM's American branch officially files for protection under Chapter 11 of the United States Bankruptcy Code -- at least based on top analysis conducted over the past few days and the latest proposal by the Obama administration to GM executives.
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French prime minister Francois Fillon has vowed the government's support in reinstating the country's formula one race.
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Former General Motors Vice Chairman Bob Lutz envisions the Obama administration's automotive task force evolving into a permanent entity exercising "benevolent oversight" of the industry.
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The Obama administration plans to inject $30 billion into General Motors on top of the $19.4 billion it has already lent as part of a sweetened offer to bondholders, senior administration officials said today.
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The Obama administration plans to inject $30 billion into General Motors on top of the $19.4 billion it has already lent as part of a sweetened offer to bondholders, senior administration officials said today.
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Dealers struggling to find floorplan financing will get aid from the federal government through a pilot program being launched by the Small Business Administration.
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German Foreign Minister Frank-Walter Steinmeier said on Thursday he got assurances from U.S. Secretary of State Hillary Clinton that she would push for U.S. support to find a solution for General Motors Opel unit.
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A late bid by China's Beijing Automotive Industry Corp (BAIC) for Opel could still be considered if the company makes a more detailed offer, German finance minister Peer Steinbrueck told reporters after marathon overnight talks between GM, the German government and three other bidders failed to produce a clear result.
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It's small, but the Alfa Romeo Junior has a big responsibility - it will spearhead a wave of new models when it hits showrooms next year
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A bid for Opel by China's Beijing Automotive Industry Corp. (BAIC) could still be in the running if the company comes up with a more detailed offer, German Finance Minister Peer Steinbrueck said.
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The European Commission called a meeting of European trade and economy ministers for Friday to discuss the future of carmaker Opel and its plants in Europe, a spokesman said. The meeting is scheduled to take place in Brussels at 3.00 p.m. (1300 GMT).
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Supermini showcases best bits from Scirocco
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The European Commission called a meeting of European trade and economy ministers for Friday to discuss the future of carmaker Opel and its plants in Europe, a spokesman said. The meeting is scheduled to take place in Brussels at 3.00 p.m. (1300 GMT).
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The European Commission will organize a meeting of European Union industry ministers to discuss the sale of carmaker Opel, an EU spokesman said on Wednesday.
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