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  • Dec 18- A fire department in Southern California said a garage fire may have been caused by an overheated charging system in a Tesla Model S sedan, in the latest link between the top selling electric car and the potential for fire.

  • The hearing was scheduled to continue through Thursday, but U.S. Bankruptcy Court Judge Steven Rhodes asked Detroit to use the time scheduled for court instead to seek better terms from the swaps counterparties.

  • Detroit might sue swap counterparties -city attorney Wednesday, 18 Dec 2013 | 2:04 PM ET

    DETROIT, Dec 18- A lawyer for Detroit said in U.S. Bankruptcy Court on Wednesday that the city might still pursue litigation over its interest-rate swap agreements, even though the city has maintained that the swap counterparties are secured creditors.

  • NEW YORK, Dec 18- Ford Motor Co warned Wednesday that the cost of launching new vehicles and a deteriorating Venezuelan economy would dent its profit next year, news that sent shares of the No. 2 U.S. automaker down 7 percent in afternoon trading. Much of that amount- about $8.34 billion- is estimated to come from North America.

  • Ford's shares hammered on Europe, LatAm woes Wednesday, 18 Dec 2013 | 10:39 AM ET

    Ford said it expects lower pretax profit in 2014, and that targets for global automotive operating margin are at risk.

  • UPDATE 1-Ford expects less profit in 2014, shares fall Wednesday, 18 Dec 2013 | 9:44 AM ET

    NEW YORK, Dec 18- Ford Motor Co said Wednesday it expects lower pretax profit in 2014 and that its target for global automotive operating margin is at risk, due to economic conditions in Europe and South America, driving Ford shares down more than 4 percent.

  • Ford sees operating margin target at risk, shares fall Wednesday, 18 Dec 2013 | 9:08 AM ET

    NEW YORK, Dec 18- Ford Motor Co on Wednesday that its target for global automotive operating margin of between 8 percent and 9 percent is at risk, due to economic conditions in Europe and South America, and it expects pretax profit to be lower in 2014 than in 2013..

  • Detroit bankruptcy moves towards bond recovery Tuesday, 17 Dec 2013 | 3:59 PM ET
    Graffiti is painted on the walls of the abandoned Packard Automotive Plant December 13, 2013 in Detroit, Michigan.

    Detroit's bankruptcy recovery begins as a bond insurance firm drops objections to a controversial financing plan to reach agreements with the city.

  • Don't blame pensions for cities' woes: New study Tuesday, 17 Dec 2013 | 2:15 PM ET
    Protestors rally in front of the U.S. Courthouse in Detroit, October 28, 2013.

    Costly pensions are being blamed for the financial bind hitting U.S. cities. But bad management played a bigger role, says a new report.

  • Detroit needs the swaps deal in order to obtain a $350 million loan, some of which would be used to improve city services. At the hearing, Detroit began defending a key complex transaction in which the city would terminate a crippling interest-rate swap deal while securing a $350 million loan, known as debtor-in-possession financing.

  • About 30 lawsuits allege that the London Metal Exchange and other defendants- including investment banks Goldman Sachs Group Inc and JPMorgan Chase& Co and merchants Glencore Xstrata and Trafigura AG- manipulated the warehousing of aluminum in order to lift the price of the metal.

  • Dec 17- Of all the problems facing Detroit, getting court recognition as a legally bankrupt entity was actually the easy part.

  • GM CEO Akerson defends tenure as his exit nears Monday, 16 Dec 2013 | 1:15 PM ET

    WASHINGTON, Dec 16- Dan Akerson, General Motors Co's outgoing chief executive, on Monday defended his tenure leading the No. 1 U.S. automaker and said his successor will have to build on the turnaround that he guided.

  • General Motors to invest $1.3 bln in 5 U.S. plants Monday, 16 Dec 2013 | 12:15 PM ET

    FLINT, Mich, Dec 16- General Motors Co said on Monday it will invest nearly $1.3 billion at five U.S. plants to make a new transmission and boost output for a planned new engine as well as add a vehicle paint shop.

  • DETROIT, Dec 16- Appeals of Detroit's historic bankruptcy will be allowed to bypass a federal district court and head straight to the U.S. 6th Circuit Court of Appeals, the bankruptcy judge overseeing the case ruled from the bench on Monday.

  • LONDON- A fragile recovery in the euro zone's private sector is ending the year on a high as new orders flood in, but the chasm between the bloc's two biggest economies has widened, surveys show.

  • BEIJING/ SHANGHAI, Dec 16- Renault SA clinched full access to China's auto market on Monday by sealing a joint venture agreement with state-owned Dongfeng Motor Group in Wuhan, a city fast shaping up as China's own Detroit. The deal allows Renault to fully tap demand in China, something it has been unable to do until now because of the lack of a strong local partner.

  • BEIJING/ SHANGHAI, Dec 16- Renault SA clinched full access to China's auto market on Monday by sealing a joint venture agreement with state-owned Dongfeng Motor Group in Wuhan, a city fast shaping up as China's own Detroit. The deal allows Renault to fully tap demand in China, something it has been unable to do until now because of the lack of a strong local partner.

  • SYDNEY, Dec 16- Harrington Industries Ltd, a 94- year-old privately-owned car parts maker, should be crushed by the coming implosion of Australia's auto manufacturing industry.

  • WASHINGTON, Dec 15- The withering U.S. municipal bond market will shrink even more well into 2014, with interest rate and credit risks keeping both investors and borrowers away. "There are two themes that occurred this year and they're going to carry on to next year," said Chris Alwine, head of municipal bonds at The Vanguard Group, which has $100 billion in assets.

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