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General Motors says it is investing $1 billion to develop two new car models in Brazil. The president of GM's operations in Brazil and the Mercosur countries says it is GM's biggest investment since the onset of the global financial crisis.
GM CEO Fritz Henderson told CNBC Friday that the new GM must succeed and he said that he believes that the company will do just that.
On the day GM emerged from bankruptcy, company CFO Ray Young told CNBC Friday that the new GM won't be seeing real cash flow until sometime in 2010.
Once the world's largest and most powerful automaker, new GM is now cleansed of massive debt but faces a daunting task as car sales are in the worst slump in 25 years.
The path is now clear for General Motors to leave bankruptcy protection in record time as a leaner company that is better equipped to compete in a brutal global auto market.
As Hyundai looks to gain share in the auto market, it will need to offer a full range of vehicles, said John Krafcik, acting president and CEO of Hyundai Motors America.
The sale of most of General Motors' assets is moving closer to completion, after a bankruptcy judge denied motions by groups with asbestos and injury-related claims seeking to halt the sale and appeal directly to the 2nd Circuit Court of Appeals.
A bankruptcy judge has ruled that General Motors can sell the bulk of its assets to a new company, but it appears the ruling will be appealed by a Chicago law firm.
General Motors and Chrysler are closing 3,200 dealerships nationwide, and aren't doing any favors for recent automotive tech graduates looking for mechanic jobs. But fewer people buying new cars and trucks also means people are counting on their older vehicles to run reliably.
A former Chrysler dealership owner is determined to challenge the automaker's decision to terminate his franchise.
An attorney for General Motors urged a bankruptcy judge Thursday to approve the automaker's sale plan, saying that the only other alternative would be a liquidation of the company's assets.
With one day left in the quarter, the Dow and S&P ended in positive territory as fund managers snapped up winners in an attempt to embellish their portfolios.
The Mad Money host highlights the trends that he thinks will dominate the third and fourth quarters.
A bankruptcy judge on Thursday ruled that a group representing General Motors salaried retirees cannot form a formal committee to negotiate with the automaker as it attempts to reorganize and emerge from Chapter 11 as a new company.
Desperate times have led to desperate measures in New York City: Barclays has bought the naming rights to a bustling subway station in Brooklyn. The escalating corporatization of the city has led some New York Yorkers to wonder where it will end — when the Big Apple becomes the Big iPod?!
Carry your own luggage to the plane, slide one pound ($1.65) into a slot to use the toilet while airborne, pay more charges for fuel, have staff working for free for one month.
Miners and train and bus company Stagecoach Group were big gainers on the London Stock Exchange in morning trading Wednesday.
General Motors has notified its U.S. white-collar workers that it plans to cut about 4,000 more jobs by the end of the year.
The Energy Department is lending money to the Ford Motor from a $25 billion fund to develop fuel-efficient vehicles, congressional officials said Monday.
A closely watched study of new vehicle quality says Ford, General Motors and Chrysler have improved, but they still lag behind foreign competitors like Toyota.