With increases in production at U.S. auto plants, Americans are on track to buy a record number of new vehicles next year or by 2016.» Read More
April 10- Shares of bailed out auto-lender Ally Financial Inc fell 3 percent in their market debut, valuing the company at about $11.7 billion in the biggest U.S. Detroit- based Ally's shares were trading at $24.25 shortly after the opening on the New York Stock Exchange.
*Toyota gives no cost estimate for recall. Toyota, the world's biggest automaker said, it was not aware of any crashes or injuries caused by the glitches, which were found in 27 Toyota models including the RAV4 and Yaris subcompact.
April 9- Detroit's emergency manager Kevyn Orr showed little enthusiasm on Wednesday for a new proposal from a bond insurer to sell or securitize the insolvent city's world-class art collection.
April 9- Ally Financial Inc's initial public offering has been priced at $25 per share, an underwriter said, valuing the bailed-out auto lender at about $12.04 billion. Ally's IPO is the biggest U.S. offering so far this year, eclipsing that of Santander Consumer USA Holdings Inc and IMS Health Holdings Inc..
April 9- Ally Financial Inc's initial public offering has been priced at $25 per share, an underwriter said, valuing the bailed-out auto lender at about $12.04 billion. The company previously said it expected to price its offering at between $25- $28 per share.
WASHINGTON, April 9- Detroit on Wednesday struck a deal with a core group of creditors that could ease concerns about the treatment of certain bonds in its landmark bankruptcy case and pave the way for compromises with other creditors.
BOND INSURER FGIC SAYS HAS RECEIVED CREDIBLE PROPOSALS FOR ACQUIRING OR MONETIZING DETROIT INSTITUTE OF ARTS COLLECTION THAT WOULD GENERATE $1 BLN- $2 BLN OF PROCEEDS.
WASHINGTON, April 9- The city of Detroit on Wednesday struck a deal with bond insurers over a key class of debt in its landmark bankruptcy case that significantly reduces bondholder losses and could pave the way for agreements with other creditors.
WASHINGTON, April 9- Detroit has reached a settlement with three bond insurers on $388 million of its unlimited tax general obligation bonds, a court-appointed mediator said on Wednesday.
REMAINING BOND PAYMENTS TO BE APPLIED TO INCOME STABILIZATION FUND FOR DETROIT PENSIONERS-MEDIATORS.
DETROIT SETTLEMENT WITH BOND INSURERS AMBAC, ASSURED, NATIONAL PUBLIC FINANCE GUARANTEE ALLOWS $388 MLN OF UTGO CLAIMS.
DETROIT REACHES SETTLEMENT ON TREATMENT OF UNLIMITED TAX GENERAL OBLIGATION BONDS- MEDIATORS.
April 9- Detroit has reached a settlement with bond insurers over the treatment of some bonds in the city's bankruptcy, and a court-appointed mediator is expected to announce the details later on Wednesday, a spokesman for the city said.
TERMS OF DETROIT BOND INSURANCE SUIT SETTLEMENT, INCLUDING WHETHER IT COVERS ALL LITIGANTS, NOT IMMEDIATELY AVAILABLE.
DETROIT AND BOND INSURERS IN SETTLEMENT IN SUIT OVER CITY'S PROPOSED PAYOUT TO UNLIMITED TAX GENERAL OBLIGATION BONDHOLDERS-CITY SPOKESMAN.
CHICAGO, April 8- A bill aimed at boosting funding for two of Chicago's retirement systems breezed through the Democrat-controlled Illinois House and Senate on Tuesday and now heads to Governor Pat Quinn, who has not yet taken a position on the measure.
DETROIT, April 8- Hoping to boost demand for its slow-selling Volt hybrid, Chevrolet is planning to sell two versions of the redesigned 2016 Volt, including a lower-priced model with a smaller battery pack and shorter driving range, supplier sources told Reuters on Tuesday.
LONDON, April 8- Forced by the UK High Court to put the safety-catch back on its "bazooka" solution to long load-out queues, the London Metal Exchange has just unveiled the other weapons in its arsenal.
April 8- General Motors Co is expected to announce on Tuesday a $450 million investment plan in two of its Michigan plants to bolster its electric car research and production capabilities, the Detroit News reported, citing people familiar with the matter.
April 7- General Motors Co is expected to announce on Tuesday a $450 million investment plan in two of its Michigan plants to bolster its electric car research and production capabilities, the Detroit News reported, citing people familiar with the matter.