The Transportation Department turned down a request by Norwegian Air International that would have allowed the carrier to offer new service between London's Gatwick Airport and New York, Orlando, Florida, and other U.S. cities.» Read More
Chrysler headed back to bankruptcy court Tuesday to get a judge to approve the termination of 789 dealer franchises, while Chrysler's plan to become a stronger automaker partnered with Italy's Fiat awaits action by the nation's highest court.
Edward Whitacre, former chairman and CEO of AT&T, will become chairman of General Motors when the company emerges from bankruptcy, said interim Chairman Kent Kresa Tuesday.
The road has been bumpy for automakers, but Hyundai is trying to navigate the potholes by revving up its quality, advertising and perception.
Both General Motors and Chrysler have announced plans to dramatically reduce their networks of thousands of dealers, saying that the moves are needed to cut costs as part of their restructuring efforts.
General Motors will announce the members of its new board of directors "very shortly," CEO Fritz Henderson told CNBC Monday.
Three Indiana state pension and construction funds want the Supreme Court to block Chrysler's sale to Fiat so they can pursue an appeal in hopes of getting a better deal.
A U.S. appeals court said Friday it would conditionally approve Chrysler's sale to Fiat but is keeping the deal on hold until Monday to allow an appeal.
When General Motors emerges from bankruptcy protection, it will technically be a brand new, privately held company, yet it will be more publicly owned than ever, with taxpayers holding a 60 percent stake.
Top executives of bankrupt General Motors and Chrysler defended slashing their dealer networks, telling Congress on Wednesday that eliminating more than 2,300 dealerships was crucial to saving the companies.
Hummer owners are an unusual breed, but a little-known Chinese company's surprise purchase of the American maker of gas-guzzling, military-style SUVs is audacious even by their standards.
Consumers should feel comfortable buying a General Motors car even as the automaker battles its way out of its stunning bankruptcy, company CEO Frederick "Fritz" Henderson told CNBC in a live interview Tuesday.
Some of the towns most threatened by GM's woes would not exist without the automaker. The company has been part of everyday life by contributing to orchestras, community colleges and ballparks.
Turnaround specialist Albert Koch is in for perhaps his biggest challenge yet as GM's chief restructuring officer. He'll be GM's primary representative while it is in bankruptcy court protection.
As General Motors prepares to celebrate its 100th anniversary and faces possible bankruptcy, here are some key events in the giant automaker's history:
Chrysler and Fiat have asked a bankruptcy court that approved their merger to shorten the process for appeals and bypass the U.S. District Court, according to a court documents.."
President Obama couldn't let General Motors fail, but he won't concede he's taking over the company.
President Barack Obama is defending the government's intervention in the auto industry, saying the collapse of GM and Chrysler would have been devastating for the economy and American workers.
General Motors' bankruptcy filing on Monday comes at no surprise, said Bob Doll, BlackRock vice chairman.
General Motors filed for Chapter 11 bankruptcy protection in New York Monday. Here are following is the list of the largest trade creditors:
AutoNation CEO Mike Jackson says buyers are coming to car showrooms, but the credit isn't there to make the sales.