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Chrysler bankruptcy has dealers on razor's edge

Chrysler's car dealership network is on the verge of collapse, a U.S. bankruptcy court heard on Monday, as hundreds of dealerships have closed their doors this year and uncertainty about the company's future is driving consumers away.

Chrysler gets court approval on loan, Opel heats up

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Chrysler won interim approval from a U.S. bankruptcy court to access a $4.5 billion loan as it tried to move ahead in its planned alliance with Fiat SpA, while the Italian automaker advanced its bid for General Motors Corp's European Opel brand.

AIG to post first-quarter loss, no new bailout: source

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American International Group Inc is expected to post a first-quarter loss on Thursday, but the embattled insurer's results will not trigger a new capital injection from the U.S. government this time, a source familiar with the matter said on Monday.
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World stocks hit 4-month high, banks buoyant

World stocks hit a fresh four-month high on Tuesday while government bonds steadied after signs of improvement in the U.S. housing sector and increasing optimism about banks triggered a rally on Wall Street.
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UBS confirms first-quarter loss, remains cautious

Switzerland's largest bank, UBS , confirmed a first-quarter net loss of 2 billion Swiss francs ($1.76 billion) on Tuesday on the back of yet more writedowns, as client withdrawals continued, and said it remained cautious.
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Bank caution supports U.S. dollar, tempers stocks

The U.S. dollar edged up from a six-week low on Tuesday after news the U.S. Treasury will instruct about 10 banks to raise more capital injected caution into markets and capped gains in Asian stocks.
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AIG to post quarterly loss, no new bailout: source

American International Group Inc is expected to post a first-quarter loss on Thursday, but the insurer's results will not trigger a new capital injection from the U.S. government, a source familiar with the matter said on Monday.
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Citigroup eyes new ways to pay employees

Citigroup may put more employees on commission or offer them larger base salaries as it tries to retain key staffers without running afoul of laws limiting executive pay at banks that receive government funds.
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BofA says no plan to raise capital, Citi mum

Bank of America Corp , denying a media report, said it had no plans to raise $10 billion in common equity, while another report said Citigroup Inc was looking to raise capital from private investors.
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GM to sell Saturn proceeds

General Motors on Monday said it will proceed to sell its Saturn unit, in a secured agreement with a specific buyer later this year, which has 400 retailer locations in the U.S. and Canada.
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Forex Daily Commentary

Australian Dollar: The Aussie dollar shrugged off some woeful local economic data yesterday to continue its recent surge higher.
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Obama faces climate test with EPA rule on ethanol

President Barack Obama's administration will face a big test on fighting climate change when it seeks to determine if ethanol, the top U.S. alternative motor fuel, cuts greenhouse gas emissions.
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Tense talks as U.S. bank stress tests near completion

The largest U.S. banks made the case to regulators on Monday that they have the financial firepower to withstand a deeper recession, as Bank of America denied a report it was trying to raise capital of $10 billion.
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House Democrats seek $94.2 billion in emergency funds

Democrats in the U.S. House of Representatives will seek passage in coming weeks of $94.2 billion in emergency money for the wars in Iraq and Afghanistan and other programs, including $2 billion more to prepare for an influenza pandemic.
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S&P turns positive for '09 on bank hopes, data

U.S. stocks rallied on Monday, driving the S&P 500 into positive territory for the year as investors bet banks' capital shortfalls may be manageable and housing data fueled hopes the recession is easing.
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S&P 500 turns positive for 2009 on bank hopes, data

U.S. stocks rallied on Monday, driving the S&P 500 into positive territory for the year as investors bet banks' capital shortfalls may be manageable and housing data fueled hopes the recession is easing.

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