General Motors will file for bankruptcy on Monday, forcing the 100-year-old carmaker into a new and uncertain era of government ownership.
The White House-orchestrated ouster of General Motors’ top executive sent a chilling message to unions, management and bondholders.
South Africa said on Monday that industry bailouts by rich nations, especially in the carmaker sector, could be a covert form of protectionism.
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/ 16 February 2009
President Barack Obama has decided to form a government task force for restructuring the struggling US car industry instead of naming a ”car czar”.
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/ 12 January 2009
Carmakers put on a brave face at the world’s biggest car show on Sunday, with the sales outlook bleak for the coming year.
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/ 13 December 2008
The Bush administration said on Friday it could be willing to provide emergency aid to the teetering US car industry