Fia SpA and Chrysler LLC finally sealed the deal, forming the 6th largest car maker globally. After the U.S. Supreme Court dismissed an appeal against the sale, the two announced that they had finalized a global strategic alliance to “begin operations immediately”. Chrysler’s good assets will be transferred to a new, restructured firm owned by [...]
Fiat SpA Says Chrysler Deal Will Close “Shortly” After the US Supreme Court Cleared the Way for the Purchase of Most of Chrysler LLC Assets
China’s Consumer Prices Fall for Fourth Consecutive Month, Drops 1.4% in May From a Year Earlier Slowing Slightly from April’s 1.5% Decline
Home Depot Slightly Improves Full-Year Earnings Guidance, Expects Flat Earnings [...]
US Treasury to Announce Approval for 10 US Banks including JPMorgan Chase & Co, American Express Co to Repay TARP Funds
Bank of America Corp Announces Resignation of Two More Board Members
Fiat SpA Will Not Abandon Efforts to Buy Chrysler LLC after US Supreme Court Delays Deal
Royal Dutch Shell Chief Executive Officer Calls for Compensation Reforms [...]
Ireland Sees Credit Rating Cut for Second Time This Year by Standard & Poor’s to AA from AA+
Three Indiana State Pension Funds Ask US Supreme Court to Block Chrysler LLC’s Sale to Group Let by Fiat SpA
Global Airline Industry Expected to Lose USD 9B This Year, Double the Forecast in March
Tribune Co and its Creditors [...]
Organization of American States (OAS) Ends Cuba’s Suspension After 47 Years, Outlines Conditions for Re-Entry
Dealers Oppose Chrysler Llc’s Request to Terminate Franchise Agreements, Ruling Likely Today
Wal-Mart Stores Inc to Create 22,000 New Jobs in 2009 as Part of Expansion Plan in the US
Japanese Companies Cut Spending on Plant and Equipment by a Record 25.3% in [...]
General Motors Corp to File for Bankruptcy Later on This Morning, US Government to Provide USD 30mm of Additional Funds to Restructure the Automaker
Chrysler Wins Court Approval to Sell Most of Its Assets to a Group Led by Italy’s Fiat SpA
China’s Manufacturing Expands For a Third Consecutive Month in May Recording a Monthly Purchasing Manager’s [...]
US Government Expected to Buy 70% Stake in General Motors Corp (GM) as Bankruptcy Looms
Chrysler LLC Expected to Exit Ch 11 Bankruptcy Protection as Early as Next Week, Boosting Optimism for a Swift Proceeding for GM
European Union (EU) Reveals Plan to Regulate, Reduce Risk in Financial Markets
McDonald’s Corp Plans to Edge Starbucks Corp as Europe’s [...]
It is no surprise that investors of General Motors Corp. are worried. However, shareholders were frantic yesterday as they got hold of news that six executives (including former Vice Chairman and Product Chief – Bob Lutz) at the company had sold almost US$ 315K in stock, as well as liquidated their outstanding direct holdings in [...]
It will take nothing short of a miracle for Chrysler LLC to make a quick recovery as it began bankruptcy proceedings yesterday. After failing to meet the US Government’s deadline to restructure, Chrysler hopes to turn things around by selling its assets to form a new company to be owned by the Government, FiatSpa, and [...]