Canada's Magna (MGa.TO) is still Germany's preferred bidder for carmaker Opel, a government spokesman said on Wednesday ahead of a meeting with General Motors representatives to discuss the takeover offers.
General Motors officials meet German government representatives on Wednesday to discuss takeover offers for Opel, with a potential row looming as they each appear to prefer a different bidder.
Delphi Corp's ability to sell itself depends on four of its loss-making plants that buyers may need to inherit as part of a sale, the New York Post said on Wednesday.
The bankruptcy restructurings of General Motors Corp and Chrysler LLC have improved credit market access for auto suppliers, but the sector is far from healthy and requires close government monitoring, an Obama administration official said on Tuesday.
Political and economic logic are set to collide in the byzantine decision-making over the future of German carmaker Opel, the main European arm of fallen U.S. auto giant General Motors.
General Motors (GM) said on Monday that it had received three binding takeover offers for Opel that it would consider together with the European countries that would be affected by the deal.
Johnson Controls Inc posted a 63 percent plunge in quarterly earnings as the weak economy pressured the diversified manufacturer's auto parts and building controls businesses, but its shares rose 7 percent as the results beat Wall Street forecasts.
Magna and Sberbank have changed their offer for General Motors' former European unit Opel, a source familiar with the matter said.
A congressional committee approved a resolution on Friday seeking documents and other information from the Obama administration's autos task force regarding major decisions made on the restructuring of General Motors Corp and Chrysler LLC.
Belgium-based investor RHJ International is offering 275 million euros ($388 million) for a majority stake in General Motors' Opel business in a last-ditch bid to beat early frontrunner Magna.
Belgian financial investor RHJ International offered 275 million euros ($387.6 million) for a 50.1 percent stake in General Motors' Opel business in a last-ditch effort to beat out rival suitors.
Belgian financial investor RHJ International offered 275 million euros ($387.6 million) for a 50.1 percent stake in General Motors' Opel business in a last-ditch effort to beat out rival suitors.
The new General Motors Co is looking to the fast-growing Far Eastern markets, especially China, the Detroit News reported on Wednesday.
Belgian financial investor RHJ wants Opel to break even in 2011 on an operating basis by closing the carmaker's Antwerp plant, idling production in Eisenach and cutting 3,900 jobs in Germany, a newspaper reported.
General Motors GMGMQ.PK will have a hard time overcoming Germany's resistance to a financial investor if it wants to sell Opel to RHJ (RHJI.BR) in the hope that it could later buy its European carmaker back.
Auto parts maker Delphi Corp (DPHIQ.PK) has reached an agreement with its bankruptcy financing lenders and former parent General Motors for a plan to emerge from court protection, The New York Times reported on Thursday.
General Motors unveiled plans on Wednesday to spend about $1 billion in Brazil through 2012 to develop a new family of vehicles for South America, a priority market for the U.S. automaker as it looks to rebound from bankruptcy protection.
Former General Motors Corp Chairman and Chief Executive Rick Wagoner, ousted in March by the Obama administration, will retire in August with a package worth $8.6 million in the first five years, the company said on Tuesday.
General Motors unveiled plans on Wednesday to spend 2 billion reais ($1.02 billion) in Brazil through 2012 to develop a new family of vehicles for the South American market.
Former General Motors Corp Chairman and Chief Executive Rick Wagoner, ousted in March by the Obama administration, will voluntarily retire on August 1 with sharply reduced benefits, the company said on Tuesday.
Former General Motors Corp Chairman and Chief Executive Rick Wagoner, ousted in March by the Obama administration, will retire in August with a package worth $8.6 million in the first five years, the company said on Tuesday.
Ford Motor Co (F.N) and General Motors Co (GMGMQ.PK) have objected to a plan by bankrupt auto parts supplier Visteon Corp (VSTN.PK) to pay employees up to $80.1 million in bonuses, saying that they and major auto parts suppliers had eliminated performance incentives for 2009.
