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April 15- Detroit reached its first deal with a retired workers group on Tuesday over pension and healthcare benefits and was close to a deal with its two pension funds, giving a major boost to the city's plan to exit bankruptcy in October.
DETROIT— The city of Detroit reached a deal with a group of retired police officers and firefighters that would protect pensions but trim annual cost-of-living payments— the first major agreement with retirees in the bankruptcy case, mediators announced Tuesday.
CNBC's Scott Cohn reports Detroit has reached a deal with retirees on pension cuts.
The city of Detroit has reached a deal with retired police officers and firefighters that would preserve current pensions.
A deal calling for pension cuts with groups representing former city employees could come as early as Tuesday, the Detroit Free Press said on its website. "The two sides have made significant progress in mediation talks...," the Detroit Free Press said.
Markets in Chicago and Detroit were among those struggling to fill whitefish orders before the beginning of the eight-day celebration Monday evening, and a representative of a commercial fishing agency said the shortfall extended as far as New York.
*Porsche product drive faced scepticism among fans. MILAN, April 14- As Fiat Chrysler moves to reinvent its small Maserati brand as a serious rival to the world's luxury car makers, the pressure to succeed is all the greater for the startling success of Germany's Porsche.
DETROIT— General Motors is replacing the executives in charge of communications and human resources as it struggles with a string of embarrassing recalls that have led to congressional hearings and federal investigations.
WASHINGTON- For a bunch of people who just agreed the global economy is doing better, top officials from the world's rich and poor nations sound rather worried. -IMF-ECONOMY/, moved, by Jan Strupczewski and Krista Hughes, 870 words. PARIS- Two years ago, Greece's debt crisis almost brought the euro zone crashing down.
*Congress probes automaker's failure to fix until 2014.
DETROIT— Documents released by a House subcommittee show that managers and employees at General Motors were often slow to react to safety problems— and that one part of GM often didn't know what another was doing.
WASHINGTON/ DETROIT, April 11- Documents made public on Friday by a U.S. House of Representatives committee provided fresh details on General Motors Co's awareness of problems surrounding ignition switches in millions of its cars- long before the Detroit automaker recalled the vehicles.
DETROIT, April 11- Detroit's plan to get out of bankruptcy cleared a major hurdle on Friday when a U.S. Bankruptcy Court judge approved the cash-strapped city's third attempt at settling costly interest-rate swap agreements with two investment banks.
A federal judge's approval of Detroit's settlement with two banks marks a turning point in the city's reorganization.
A U.S. Bankruptcy Court judge approved Detroit's third try at settling costly interest-rate swap agreements.
DETROIT— Shares of General Motors Co. sank to a 10- month low Friday amid continuing fallout from a mishandled recall of 2.6 million small cars. The stock fell $1.37, or 4.1 percent, to close at $31.93, with most of the decline in the middle of the afternoon.
CNBC's Scott Cohn reports the judge in Detroit's bankruptcy has approved an $85 million settlement between the city and Bank of America and UBS over swaps contracts.
DETROIT— U.S. safety regulators have decided against seeking a recall of Ford F-150 pickup trucks after investigating complaints about reduced power in EcoBoost engines. The National Highway Traffic Safety Administration says it closed a probe started in May.
DETROIT— Detroit can move ahead with a plan to settle a ruinous multimillion-dollar debt with two banks for $85 million, a judge said Friday as he also urged the bankrupt city and other creditors to reach more deals. Bankruptcy Judge Steven Rhodes signed off on the agreement to pay UBS and Bank of America.
DETROIT, April 10- Investors' concerns about ongoing turmoil at General Motors Co, linked to the deaths of at least 13 people, could push the automaker's shares below GM's $33 IPO price for the first time since last June. The stock last dropped below $33 on June 28 last year.