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  • RPT- DETROIT EMERGENCY MANAGER KEVYN ORR TO HAVE ROLE IN IMPLEMENTATION OF CITY'S BANKRUPTCY PLAN.

  • RPT-VOTE BY DETROIT CITY COUNCIL RETAINS EMERGENCY MANAGER UNTIL END OF CITY'S HISTORIC BANKRUPTCY CASE.

  • RPT- DETROIT CITY COUNCIL VOTES TO RESTORE CONTROL OVER CITY TO ELECTED OFFICIALS.

  • RPT- DETROIT MAYOR APPROVES COUNCIL'S RESOLUTION ON EMERGENCY MANAGER POWERS.

  • Detroit elected officials regain city control Thursday, 25 Sep 2014 | 5:46 PM ET

    DETROIT— The Detroit City Council on Thursday unanimously approved a plan to return oversight of daily operations to elected officials while retaining the city's state-appointed emergency manager to oversee bankruptcy matters until they are resolved.

  • S&P returns GM credit rating to investment grade Thursday, 25 Sep 2014 | 5:37 PM ET

    DETROIT— Standard& Poor's has returned General Motors to investment grade after rating it junk for nearly a decade. S&P says it expects GM will sustain its improving profits in North America and achieve profitability in Europe soon. Shares in General Motors Co. rose 17 cents to $33.04 in after-hours trading.

  • UPDATE 1-S&P restores GM debt to investment grade Thursday, 25 Sep 2014 | 5:01 PM ET

    DETROIT, Sept 25- General Motors Co's corporate debt was raised by Standard& Poor's to investment grade, another critical step in the automaker's long recovery from its 2009 bankruptcy and reorganization.

  • S&P restores GM debt to investment grade Thursday, 25 Sep 2014 | 4:42 PM ET

    DETROIT, Sept 25- General Motors Co's corporate debt was raised by Standard& Poor's to investment grade, another critical step in the automaker's long recovery from its 2009 bankruptcy and reorganization.

  • Chrysler recalls vehicles to fix ignition switches Thursday, 25 Sep 2014 | 1:59 PM ET

    DETROIT— Chrysler is recalling nearly 350,000 older cars and SUVs to fix defective ignition switches that can cause the vehicles to stall. The switches can slip out of the "on" position, which is similar to the problem that forced General Motors to recall millions of vehicles this year. All were built before May 12, 2008.

  • Detroit-area home sales hit by higher prices Thursday, 25 Sep 2014 | 9:35 AM ET

    Single-family home and condo sales fell 8 percent in the Detroit area in August as median prices jumped 15 percent.

  • DETROIT, Sept 25- Kevyn Orr will end his 18- month term as Detroit's emergency manager this week, leaving a city still mired in operational and fiscal uncertainty and arguing in court for approval of its bankruptcy plan.

  • 2 Wisconsin families settle with GM over crash Thursday, 25 Sep 2014 | 12:18 AM ET

    DETROIT— As General Motors begins to compensate the victims of crashes tied to faulty ignition switches, this week more than a dozen families were given a choice: accept a settlement, presumably in the millions of dollars, or fight GM in a potentially lengthy court battle.

  • Teen crash victims' families drop suit against GM Wednesday, 24 Sep 2014 | 6:55 PM ET

    DETROIT— The families of two Wisconsin teenagers killed in a car crash involving a faulty General Motors ignition switch have dropped their lawsuit against the company and are seeking a settlement with the automaker.

  • University launches beer-making program Wednesday, 24 Sep 2014 | 3:03 PM ET

    Central Michigan University in Mount Pleasant this week announced plans to launch the program in fall 2015, aimed particularly at supporting and boosting the state's fast-growing craft brewing industry, now a $1 billion- plus annual business.

  • Report: Treasury OKs big pay raises for GM, Ally Wednesday, 24 Sep 2014 | 12:40 PM ET

    WASHINGTON— The U.S. Treasury Department continued to approve "excessive" pay raises for top executives at General Motors and its former consumer finance arm, both of which received taxpayer-funded bailouts during the financial crisis, a new government report says.

  • DETROIT, Sept 24- The U.S. Treasury last year permitted top executives at General Motors Co and Ally Financial Inc to collect "excessive pay" while those companies were part of a taxpayer-funded government loan program, a special inspector general reported on Wednesday. In April, Treasury said it lost $11.2 billion on the $49.5- billion GM bailout.

  • Business Highlights Tuesday, 23 Sep 2014 | 5:34 PM ET

    Cadillac to ditch Detroit for trendy NYC address. DETROIT— Cadillac wants a jolt from the city that never sleeps. General Motors' 112- year-old luxury car division, founded in Detroit and named for the city's founder, is moving its headquarters to New York.

  • Cadillac to ditch Detroit for trendy NYC address Tuesday, 23 Sep 2014 | 10:24 AM ET

    General Motors' 112- year-old luxury car division, founded in Detroit and named for the city's founder, is moving its headquarters to New York. "There is no city in the world where the inhabitants are more immersed in a premium lifestyle than in New York," Johann de Nysschen, the brand's new president, said in a statement issued Tuesday announcing the move.

  • Judge will make Detroit water decision Monday Tuesday, 23 Sep 2014 | 4:03 AM ET

    DETROIT— A lawyer representing poor Detroit residents urged a judge Tuesday to suspend water shutoffs until next spring and order the city to come up with a new way to keep a critical service in place for people who simply can't afford it. "Detroit has an endemic poverty issue....

  • DETROIT, Sept 22- A federal bankruptcy judge on Monday heard testimony from low-income families in Detroit who say they suffered hardships when the city cut off their water with no warning and are suing to prevent such shutoffs from happening again.