GENERAL MOTORS

Germany and the United States get what may be their last chance to save Opel on Friday when they try to put a heated row behind them and forge a plan to shield the carmaker from a bankruptcy of its parent General Motors.

General Motors Corp persuaded its major bondholders to accept a sweetened ownership plan on Thursday, a deal that could result in a smoother ride for the carmaker through bankruptcy.

The European Commission announced Thursday that it will host a meeting of industry and economy ministers on Friday to discuss state support measures for the U.S. General Motors (GM)'s European subsidiary Opel.

General Motors Corp appeared to clear a major hurdle on its way to filing the kind of bankruptcy it favors on Thursday by persuading major bondholders to accept a sweetened deal -- even as talks over the carmaker's Opel unit stalled.

U.S. auto parts makers Visteon Corp and Metaldyne Corp filed for bankruptcy on Thursday, becoming the latest casualties of the global auto industry crisis and adding to the pressure on cash-strapped automakers.

General Motors Corp said on Thursday it had reached a deal with major bondholders that would give them a bigger stake in a reorganized and effectively nationalized automaker and could pave the way for a fast-track bankruptcy by GM within days.

U.S. stocks rose on Thursday, as a rise in oil prices boosted energy shares, overshadowing mixed economic data on housing sales and manufacturing orders.

A rift between Berlin and Washington threatened to torpedo Germany's goal of shielding Opel from the imminent bankruptcy of its parent General Motors , raising the risk of insolvency for the German carmaker.

A group of major General Motors Corp bondholders on Thursday gave its support for a revised bond exchange, saying the option of litigation in bankruptcy court was too risky.

The pace of economic decline in western Europe is slowing, data showed on Thursday, though activity is still very subdued and prospects for a global recovery are being hurt by the rising cost of borrowing money.

Europe's next big move to confront climate change should be to tackle rapidly growing emissions from transport, with more road tolls and greener cars, trains and trucks, a top EU environment official said.

Stock index futures pointed to a higher open on Wall Street on Thursday after key government data indicated the recession may be abating while investors eyed a looming bankruptcy for General Motors.

As the battle for German carmaker Opel effectively narrowed to a race between Fiat and Magna, overnight talks to shield Opel from General Motors' looming bankruptcy ended with no deal.

Concerns about the debt burden facing countries trying to spend their way out of the economic downturn spooked investors on Thursday despite optimism from President Barack Obama that the U.S. economy was past the worst.

General Motors Corp moved closer to filing the largest bankruptcy ever for a U.S. industrial company after a crucial bond exchange proposal failed, while the fate of GM's European brand Opel remained uncertain after marathon talks with German officials ended without a deal.

General Motors Corp moved closer to filing the largest bankruptcy ever for a U.S. industrial company after a crucial bond exchange proposal failed and as German officials held marathon talks to decide the fate of GM's European brand Opel.

What's cheaper than a fire sale? Answer: A government give-away.

General Motors Corp moved closer to filing the largest bankruptcy ever for a U.S. industrial company after a crucial bond exchange proposal failed and as officials in Germany neared a decision on which company would take over GM's European brand Opel.

Germany scrambled on Wednesday to put a plan in place to protect carmaker Opel from a looming bankruptcy filing by U.S. parent General Motors .

General Motors Corp moved closer to filing the largest U.S. industrial bankruptcy after a crucial bond exchange proposal failed and as officials in Germany neared a decision on which company would take over GM's European brand Opel.

Oil prices rose to a six-month high above $63 a barrel on Wednesday after Saudi Arabia, OPEC's biggest member, said the global economy had strengthened enough to cope with oil at $75-$80 a barrel.