July 23- Tesla Motors Inc and SolarCity Corp have made progress in putting together a deal that will merge the electric car maker and the solar panel installer, people familiar with the matter said. The two companies, which count billionaire Elon Musk as a major shareholder, are in the final stages of carrying out due diligence on each other, and could agree on the... » Read More
The new General Motors may surprise people on the upside when the company emerges out of bankruptcy, said Roger Altman, former deputy treasury secretary and chairman of Evercore Capital Partners.
Within an hour of signing the papers officially creating a new Chrysler that is out of bankruptcy and in an alliance with Fiat, Marchionne sent an e-mail to Chrysler employees.
The economic crisis has been so severe that Michigan, with a $1.4 billion budget shortfall, is closing eight prisons to save money. It is also canceling more than 130 road and bridge repair projects because the state cannot come up with enough money to get matching federal funds.
Forty days. In the world of corporate bankruptcies, I guess you could call that a quick rinse. Now that Chrysler's balance sheet has been cleaned up (thanks in large part to billions in Federal financing), the auto maker is primed for life with Fiat.
With auto sales in the doldrums, the House approved a plan Tuesday to provide vouchers of up to $4,500 for consumers who turn in their gas-guzzling cars and trucks for more fuel-efficient vehicles.
Stocks ended mixed in choppy trading Tuesday after 10 banks were approved to repay TARP loans. But tech stocks gained after Texas Instruments raised its earnings and revenue targets for the second quarter.
Stocks ended mixed on Tuesday after 10 banks were approved to repay TARP loans. The companies are expected to give back some $68 billion, about twice what the government expected. Read and listen to what the experts had to say...
Chrysler and Italy's Fiat urged the US Supreme Court late Tuesday to move quickly on Chrysler's proposed sale to Fiat, saying their government-brokered deal could still unravel if it doesn't close by a June 15 deadline.
Chrysler headed back to bankruptcy court Tuesday to get a judge to approve the termination of 789 dealer franchises, while Chrysler's plan to become a stronger automaker partnered with Italy's Fiat awaits action by the nation's highest court.
Stocks turned mixed Tuesday after the banks approved to repay TARP loans were named. But tech stocks held onto their gains after Texas Instruments raised its earnings and revenue targets for the second quarter.
Edward Whitacre, former chairman and CEO of AT&T, will become chairman of General Motors when the company emerges from bankruptcy, said interim Chairman Kent Kresa Tuesday.
The road has been bumpy for automakers, but Hyundai is trying to navigate the potholes by revving up its quality, advertising and perception.
Stocks opened higher on Tuesday with financials leading. Ten banks are set to repay capital they received through the TARP. They're expected to give back some $68 billion, about twice what the government expected. Read and listen to what the experts had to say...
Stocks opened higher Tuesday, with bank stocks rising as some of the nation's largest institutions poised to repay government bailout money.
With the Supreme Court on the cusp of deciding whether to approve or block the sale of Chrysler, the restructuring of GM's board of directors is a story that may be overlooked. That would be a mistake. The new GM board faces one of the largest challenges ever in American business.
Futures showed a relatively flat open for Wall Street on Tuesday as the dollar's rally, fueled by last week’s better than expected jobs report, fizzled out and some investors went back into stocks.
Both General Motors and Chrysler have announced plans to dramatically reduce their networks of thousands of dealers, saying that the moves are needed to cut costs as part of their restructuring efforts.
Stocks ended flat Monday as a late rally fizzled after the Supreme Court issued a stay, temporarily halting the sale of Chrysler to Fiat.
Plus, get calls on President Obama's stimulus spending, fast food, the Paris Air Show and more.
Stocks opened lower Monday as the dollar and U.S. Treasury yields soared on the back of last week's cheerier jobs data, which prompted speculation that the Fed may raise rates at its next meaeting.