COMPANIES

GM bondholder deadline passes as bankruptcy looms

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General Motors Corp finished a key piece of business on Saturday before a bankruptcy filing planned for Monday as the deadline expired for bondholders to accept an exchange offer brokered by the Obama administration.
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Rhapsody's exclusive ads target music consumers

All the TV ads that came out in support of Green Day's new album, 21st Century Breakdown, featured the lead single Know Your Enemy. But only one advertiser got exclusive footage of the band -- online music service Rhapsody.
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PM says Qatar still studying stake in Porsche

Qatar is still considering taking a stake in debt-laden Porsche , or other German auto companies, after the carmaker scaled down a bid for Volkswagen , the prime minister said on Saturday.
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Qatar says studying Porsche stake purchase

Qatar is still studying taking a stake in debt-laden German sports carmaker Porsche , or other German auto companies, after Porsche scaled down a bid for Volkswagen , the prime minister said on Saturday.
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Novel profit beats expectations but shares fall 6 pct

Software service provider Novell Inc (Nasdaq: NOVL) on Thursday evening reported higher-than-expected profit for its fiscal second quarter which ended April 30 despite an 8.5 percent fall in revenues reflecting a huge drop in software licenses and services revenue.
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Economic optimism may trump GM bankruptcy

Wall Street faces a historic shake-up next week as General Motors, a pillar of American industry, heads into bankruptcy, but the market could advance further if economic data signals the worst of the recession has passed.
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GM bondholders near deadline to accept new offer

General Motors Corp will find out on Saturday if investors holding $27 billion in the automaker's bonds will accept an exchange offer as it races to tie up loose ends before a bankruptcy filing next week.
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Germany seals deal to save Opel, Obama helps

Germany heaved a sigh of relief on Saturday over a deal with Canadian auto parts group Magna, General Motors and the U.S. government to save carmaker Opel from the imminent bankruptcy of its U.S. parent.
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Germany agrees deal with Magna, GM to save Opel

Germany reached a landmark deal with Canadian auto parts group Magna, General Motors and governments to save carmaker Opel from the imminent bankruptcy of its U.S. parent, German leaders said on Saturday.
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Judge pushes ruling on Chrysler's sale to Monday

The U.S. bankruptcy judge overseeing Chrysler LLC's bankruptcy case said on Friday he would issue an opinion sometime on Monday on the automaker's proposed sale of most assets to a new company run by Italy's Fiat SpA.
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Judge to decide on Chrysler-Fiat deal on Monday

The U.S. bankruptcy judge overseeing Chrysler LLC's bankruptcy case said on Friday he would issue an opinion sometime on Monday on the automaker's proposed sale of most assets to a new company run by Italy's Fiat SpA.
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GM to save Opel after striking deal with Magna

Germany reached a landmark deal with Canadian auto parts group Magna, General Motors and governments to save carmaker Opel from the imminent bankruptcy of its U.S. parent, German leaders said on Saturday.
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GM bondholders urged to accept new debt deal

Advisers to General Motors Corp bondholders representing $27 billion in the automaker's debt urged investors on Friday to support a debt swap negotiated over the past week with the Obama administration.
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Visteon gets bankruptcy court OK to pay wages

U.S. auto parts maker Visteon Corp received interim court approval on Friday to pay employees, parts suppliers and vendors, but it still lacks debtor-in-possession financing to keep it afloat during its restructuring.
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Magna nears deal for GM's Opel

Canadian auto parts group Magna has reached a preliminary deal with General Motors Corp to invest in Opel, boosting hopes for a deal to save the German unit as its U.S. parent prepares to enter bankruptcy.
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UAW ratifies new GM labor agreement

The United Auto Workers union has overwhelmingly ratified a new cost-cutting labor agreement with General Motors Corp , clearing a major hurdle in the automaker's restructuring efforts.
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Chrysler hopes for Friday OK on Fiat deal

U.S. automaker Chrysler LLC neared approval for its sale to a group led by Italy's Fiat SpA after three days of testimony ended and parties shifted their attention to 350 objections -- although opponents are likely to file immediate appeals.
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Time Warner leaning to spin-off method for AOL

Time Warner Inc Chief Executive Jeffrey Bewkes said on Friday that his company is still leaning toward spinning off AOL to shareholders as the preferred method for divesting the struggling Internet unit.
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Deal for Chicago Cubs could close soon: sources

The Ricketts family's $900 million purchase of the Chicago Cubs from Tribune Co could close soon, despite disagreements on the value of broadcast contracts, two sources familiar with the talks said.
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Oil to 6-month high above $66 on economic outlook

Oil rose to a six-month high above $66 per barrel on Friday, on track for its largest monthly percentage gain in more than a decade, after U.S., Japanese and Indian data suggested the economic downturn may be easing.
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Hope for Opel as Magna nears deal with parent GM

Canadian auto parts group Magna has reached a preliminary deal with General Motors Corp to invest in Opel, boosting hopes for a deal with the U.S. and German governments to save the carmaker.
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Magna takes lead in bidding for GM's Opel

Auto parts maker Magna International took pole position in the battle for General Motors' German unit, Opel, after reaching what sources said was a preliminary deal with GM.

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