Standard & Poor's Ratings Services said Thursday it has placed its ratings for Stillwater Mining Co. on CreditWatch with negative implications, citing concerns about its possible loss of a contract with General Motors Corp.

General Motors and Chrysler urged lawmakers Thursday to block legislation that would prevent them from consolidating their dealership networks, warning it would complicate their emergence from government-led bankruptcies.

Stillwater Mining Co.'s shares fell Thursday after it said General Motors Corp. wants to opt out of its multimillion dollar agreement to buy palladium and rhodium for use in auto manufacturing.

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.

China surpassed the United States as the world's biggest auto market for the first half of 2009 after June sales soared 36.5 percent from a year earlier, according to data reported Thursday.

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.

NEW YORK (Reuters) - U.S. auto parts maker Lear Corp <LEAR.PK> filed for Chapter 11 bankruptcy protection on Tuesday, a day after setting out plans to restructure its $3.6 billion debt burden under a proposed deal with creditors.

In fewer than 45 days each, General Motors and Chrysler swept through government-sponsored sales in bankruptcy court — quick tours that most people in the legal community thought impossible not long ago.

U.S. auto parts maker Lear Corp <LEAR.PK> filed for Chapter 11 bankruptcy protection on Tuesday, a day after setting out plans to restructure its $3.6 billion debt burden under a proposed deal with creditors.

State-owned Beijing Automotive faces long odds in its bid to buy European carmaker Opel, as China remains wary of firms taking over foreign automakers, according to influential Chinese magazine Caijing.

General Motors has been given about a third of the bankruptcy financing promised by the U.S. Treasury and will get the remaining $20 billion over the remainder of the year, a senior U.S. official said Monday.

The extreme volatility that has gripped oil markets for the last 18 months has shown no signs of slowing down, with oil prices more than doubling since the beginning of the year despite an exceptionally weak economy.

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.

A federal judge late on Sunday approved a plan by General Motors to sell its best assets to a new, government-backed company, a crucial step for the automaker to restructure and complete its trip through bankruptcy court.

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.