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Detroit

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  • Detroit raced toward this week's bankruptcy trial Sunday, 31 Aug 2014 | 10:18 AM ET

    Massive debt, thousands of creditors and complex union and pension issues had many experts thinking Detroit's bankruptcy would take years to resolve, considering two California cities— Stockton and San Bernardino— filed a year before Detroit did and still haven't settled on plans.

  • Scale will matter for success of New York casinos Sunday, 31 Aug 2014 | 10:07 AM ET

    Casinos are closing in Atlantic City, while new ones are opening in Maryland and Massachusetts.

  • NEW YORK, Aug 29- A U.S. judge on Friday dismissed antitrust litigation accusing Wall Street banks and commodity merchants including Goldman Sachs Group Inc and Glencore Plc of conspiring to drive up aluminum prices by reducing supply.

  • DETROIT, Aug 29- U.S. auto industry sales in August will be about even with a year ago, not quite ending the summer in a sizzling fashion but still warm enough to continue the recovery from a recession now five years in the rear-view mirror.

  • Business events scheduled for the coming month Friday, 29 Aug 2014 | 12:39 PM ET

    WASHINGTON— Institute for Supply Management releases its manufacturing index for August, 10 a.m.; Commerce Department releases construction spending for July, 10 a.m.. WASHINGTON— Commerce Department releases factory orders for July, 10 a.m.; Federal Reserve releases Beige Book, 2 p.m..

  • Business events scheduled for the coming week Friday, 29 Aug 2014 | 12:15 PM ET

    WASHINGTON— Institute for Supply Management releases its manufacturing index for August, 10 a.m.; Commerce Department releases construction spending for July, 10 a.m.. WASHINGTON— Commerce Department releases factory orders for July, 10 a.m.; Federal Reserve releases Beige Book, 2 p.m..

  • Fiat-Chrysler stock should be on market soon Friday, 29 Aug 2014 | 11:07 AM ET

    Italy's Fiat and Chrysler are merging to form Fiat Chrysler Automobiles. The combined company would move its tax headquarters to London and list its shares on the New York Stock Exchange. Fiat SpA will announce the final tally by Sept. 4.

  • Lawyer: Rosa Parks artifacts sold for $4.5M Friday, 29 Aug 2014 | 7:21 AM ET

    DETROIT— Hundreds of items that belonged to civil rights icon Rosa Parks and have been sitting unseen for years in a New York warehouse were sold to a foundation run by the son of billionaire investment guru Warren Buffett, the younger Buffett said Thursday.

  • Detroit gets $275 million financing from Barclays Friday, 29 Aug 2014 | 2:45 AM ET

    DETROIT— Detroit's state-appointed emergency manager says Barclays PLC will provide $275 million to fund the city's exit from bankruptcy. The trial to determine if Detroit gets out of bankruptcy is scheduled to start Sept. 2. The Michigan Finance Authority will issue bonds that Barclays will purchase.

  • Aug 28- Barclays PLC has agreed to raise up to $275 million to fund Detroit's exit from municipal bankruptcy, the city announced on Thursday. The financing will involve financial recovery bonds issued through the Michigan Finance Authority then purchased by Barclays at a price equal to par, according to deal's term sheet.

  • Spiders (real ones) force Suzuki car recall Thursday, 28 Aug 2014 | 8:35 AM ET
    A 2010 Suzuki Kizashi on display at the New York International Auto Show on Thursday, April 1, 2010.

    More than 19,000 midsize Suzuki Kizashi cars are affected by the recall, forced by spider infestations.

  • Omaha police bullet kills 'Cops' film crew member Thursday, 28 Aug 2014 | 1:42 AM ET

    OMAHA, Neb.— When the call came from an officer who needed help facing an armed robber at a fast-food restaurant, two members of a reality television show riding along with Omaha police hustled to record the confrontation.

  • DETROIT, Aug 27- General Motors Co and the United Auto Workers on Wednesday trumpeted the news that production of the Cadillac SRX would be shifted from Mexico to Tennessee, but Reuters has learned that GM also plans to move some other assembly work in the opposite direction.

  • DETROIT, Aug 27- General Motors Co is shifting some production of the Cadillac SRX from Mexico to Tennessee, but will partly offset that by moving some Chevrolet Equinox manufacturing from Tennessee to Mexico, an industry source told Reuters.

  • Aug 27- A New York- based specialty finance group is ready to loan Detroit as much as $4 billion, double its previous offer, if the bankrupt city uses the masterpieces in its art museum as collateral, according to a new proposal that surfaced this week.

  • Detroit says investor demand for water/sewer bonds is big Wednesday, 27 Aug 2014 | 1:44 PM ET

    Aug 27- Detroit's sale on Tuesday of nearly $1.8 billion of water and sewer bonds attracted about $7.6 billion in orders and will save the bankrupt city nearly $250 million, city officials said on Wednesday.

  • DETROIT, Aug 27- General Motors Co will shift production of its Cadillac SRX crossover vehicle from Mexico to its plant in Spring Hill, Tennessee, where the company once built vehicles for its defunct Saturn brand, the company and the United Auto Workers union said on Wednesday.

  • Bankrupt Detroit offered bigger loan secured by art Wednesday, 27 Aug 2014 | 12:15 PM ET

    Aug 27- A New York- based specialty finance group is ready to loan Detroit as much as $4 billion, double its previous offer, if the bankrupt city uses the masterpieces in its art museum as collateral, according to a new proposal that surfaced this week.

  • GM to move Cadillac SRX production to Tennessee Wednesday, 27 Aug 2014 | 11:36 AM ET

    SPRING HILL, Tenn.— General Motors announced Wednesday that it is moving production of its next-generation Cadillac SRX crossover SUV from Mexico to its plant in Tennessee, leading United Auto Workers leaders to chide Tennessee Republicans for their opposition to the union increasing its influence in the state.

  • Detroit resumes shutting off water service Wednesday, 27 Aug 2014 | 6:55 AM ET

    DETROIT— Bankrupt Detroit resumed shutting off water to people who have not paid bills after a month long suspension that followed international and local criticism that the practice was unduly harsh to residents of one of the nation's poorest cities.