COMPANIES

The United Auto Workers will emerge from a General Motors Corp restructuring as the second-largest stockholder in the reorganized automaker and with a more direct stake in its success, union President Ron Gettelfinger said on Thursday.

U.S. yellow-pages publisher R.H. Donnelley Corp filed for Chapter 11 bankruptcy protection on Thursday and said the move would slash its debt by about $6.4 billion.

Tiffany & Co said quarterly earnings fell a worse-than-expected 62 percent as jewelry sales suffered amid the recession.

U.S. automaker Chrysler hopes to end a third day of bankruptcy court hearings on Friday with approval to sell most of its operations to a group led by Italy's Fiat, although opponents are likely file immediate appeals.

Lee Iacocca, the car executive credited with saving Chrysler from bankruptcy in the 1980s, is to lose a big chunk of his pension and a guaranteed life-long company car due to the U.S. automaker's bankruptcy filing two decades later.

Tiffany & Co posted a lower-than-expected quarterly profit on Friday as shoppers avoided jewelry, but the upscale retailer kept its full-year forecast, citing a smaller sales decline so far in May.

A local Swedish court on Friday granted General Motors' loss-making unit Saab a further extension to its protection from creditors, giving it more time to restructure.

Upscale jeweler Tiffany & Co posted a 62 percent drop in quarterly profit on Friday, as shoppers stayed away from jewelry in the recession.

Italian automaker Fiat SpA is still interested in buying German peer Opel but more cannot be asked for a takeover, it said on Friday.

Germany raced to overcome a transatlantic spat and growing tensions among Opel bidders to clinch a deal for the German carmaker on Friday, as parent General Motors hurtled toward bankruptcy.

Auto parts supplier Delphi Corp may soon emerge from bankruptcy with the Obama administration's autos industry taskforce pushing for a sale of its assets, possibly to another parts supplier or an investment firm, the New York Times said, citing people briefed on the matter.

German efforts to forge a rescue for General Motors unit Opel were under threat on Friday after Italy's Fiat said it would skip crucial talks and a source said frustration was rising at rival bidder Magna.

U.S. yellow-pages publisher R.H. Donnelley Corp filed for Chapter 11 bankruptcy protection on Thursday, court documents showed.

A proposed class action lawsuit alleges Delta Airlines and AirTran Airways colluded to begin charging customers a $15 fee to check a first bag, according to the Atlanta Journal-Constitution.

Palm Inc. said on Thursday its newest smart phone the Pre, which is coming soon, will feature Palm Media Sync, Twitter Search and App Catalog.

Target Corp shareholders dealt a blow to activist investor William Ackman on Thursday, rejecting his slate of proposed directors and voting instead to keep four incumbents on the retailer's board.

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.

Target Corp shareholders reelected its four incumbent directors, the retailer said on Thursday, dealing a defeat to activist investor William Ackman, who launched a heated proxy contest seeking five seats on its board.

GE Oil & Gas said on Thursday it will supply Abu Dhabi Company for Onshore Oil Operation (ADCO) with its advance technology and services together with ABB in supplying the variable speed drive system (VSDS) electrical scope, including motors, transformers and converters.

Independent oil and gas research, Derrick petroleum Service on Thursday said a $20 Billion excess of Oil and Gas assets is currently for sale worldwide due to the whipsaw in oil and gas prices demand in the economic downturn with estimated value of more than $10 million.

Dell Inc. posted on Thursday lower-than-expected sales for its first quarter which ended on May 1, saying it was severely hurt by its reliance on business customers.

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.

Microsoft announced on Thursday its Bing search engine, a decision engine that will replace live.com worldwide as of June 3. If successful, it is excepted to change the face of search engineer market, said Forrester analyst Shar VanBoskirck.

Nokia expanded its global research laboratories of with the opening of Nokia Research Center, Berkeley on Thursday, advancing closer to its mobile devices research.

Target Corp shareholders reelected its four incumbent directors, the retailer said on Thursday, dealing a defeat to activist investor William Ackman, who launched a heated proxy contest seeking five seats on its board.

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.