United Auto Workers union and General Motors reach tentative agreement on a new four-year contract 16 minutes short of deadline.» Read More
A bankruptcy judge says Detroit can't proceed with a plan to extricate itself from costly long-term financial contracts by paying $165 million to two big banks. The NYT reports.
CNBC's Scott Cohn reports Detroit's bankruptcy judge said the city's interest-rate swap agreement is "too high a price to pay" and has rejected the deal.
GM will pay the first quarterly dividend on its common stock in almost six years, marking another step in the automaker's recovery from bankruptcy.
P.J. O'Rourke, journalist and author, describes how the application of Hong Kong economics may benefit the bankrupt U.S. city.
Donors have put up $330 million to help Detroit with its underfunded pensions and head off the possibility the city would have to sell its art.
"We are entering a new era," Mercedes-Benz development chief Thomas Weber said.
Industry analysts and planners look forward to stronger sales in the new year.
UBS and Bank of America are the only creditors to reach a settlement with Detroit to let the city out of $230 million contracts. The NYT reports.
The judge who authorized Detroit’s historic bankruptcy is refusing to allow appeals of his ruling until after the reorganization is complete.
A key component in Detroit's plan to exit bankruptcy will either be renegotiated over the next week or possibly face litigation, an attorney says.
Ford said it expects lower pretax profit in 2014, and that targets for global automotive operating margin are at risk.
Detroit's bankruptcy recovery begins as a bond insurance firm drops objections to a controversial financing plan to reach agreements with the city.
Costly pensions are being blamed for the financial bind hitting U.S. cities. But bad management played a bigger role, says a new report.
Before Detroit filed for bankruptcy, there was Stockton. The California city is nearly ready to climb out of bankruptcy but faces pension woes ahead.
The teachers union in Detroit will appeal the cutting of pensions after the city was cleared to file for Chapter 9 bankruptcy. Randi Weingarten, American Federation of Teachers president, weighs in.
While the Motor City's bankruptcy may be an extreme remedy, the city's fiscal ailments are widely felt in cities and states across the country.
Fiscally distressed governments across the country may have gotten a troubling blueprint this week for getting out of their respective messes.
CNBC's Rick Santelli and Holman Jenkins Jr., Wall Street Journal business columnist, discuss Detroit's bankruptcy decision and what other cities can learn from the ruling.
A judge has approved the city of Detroit to go ahead with its Chapter 9 bankruptcy filing. NBC's John Yang reports the latest details.
John Miller of Nuveen Asset Management explains how Detroit's bankruptcy is likely to affect bondholders.