GM set to exit bankruptcy today, after 40 days
General Motors is set to exit bankruptcy after 40 days on Friday, after judge has decided that further delays would imperil the company’s future. The new company, with the majority owner being the U.S. government, is expected to emerge with only its best assets, including the Chevrolet brand. Other assets will be liquidated.
Australian officials to meet Rio exec arrested in China
Rio Tinto executive Stern Hu in China is accused of stealing state secrets through bribes at steel companies, an Australian minister told Bloomberg on Friday. Australian officials will meet with Hu today, who was arrested on July 5 but has not yet been charged.
Audiovoxx (VOXX) ($129 million market cap), the mobile and consumer electronics firm, will release its fiscal 2010 first quarter results after the market closes today. It will hold a conference call July 13 at 10 a.m.