French carmaker Renault on Thursday posted a worse-than-expected loss on for the first half in line with results at its European rivals as auto sales fell sharply but it said the outlook is stabilizing.
President Barack Obama said on Wednesday that General Motors Co and Chrysler Group were companies worth saving, but he expects both to repay their government loans.
Canadian auto parts maker Magna offered to increase the amount of upfront capital it would invest in Opel as part of a bid for the General Motors' European unit, several sources said on Tuesday.
Chinese automaker Great Wall Motor Co is considering resurrecting plans for a domestic A-share initial public offering as China's stock and auto markets have rebounded strongly, company executives said on Tuesday.
A group of hedge funds that provided bankruptcy funding to Delphi Corp on Monday won a high-stakes auction to take control of the auto parts supplier, scuttling a rival deal brokered by the Obama administration.
Opel's labor force demanded greater say in the process of selecting a future investor for the German carmaker and called on former parent General Motors GM.UL to forgo any right to buy back a stake at a later point.
The Opel Trust, the German body which has been responsible for Opel since June, said on Saturday it has not made any decisions yet regarding the takeover offers for the carmaker.
Citigroup Inc said it has appointed three new directors and installed a new chief to oversee its retail banking unit, addressing criticism that it lacks enough leaders with commercial banking experience.
China's Beijing Auto said intellectual property issues were behind its failure to reach a deal with General Motors [GM.UL] over its Opel unit.
China's Beijing Auto said intellectual property issues were behind its failure to reach an deal with General Motors over its Opel unit.
Ford Motor Co posted a $2.3 billion quarterly net profit, mainly due to gains from a $10 billion debt-reduction plan, and said it was on track to at least break even in 2011, sending its shares up 10 percent.
Ford Motor Co posted a $2.3 billion quarterly net profit, mainly due to gains from a $10 billion debt-reduction plan, and said it was on track to at least break even in 2011, sending its shares up 10 percent.
General Motors' GM.UL European business said on Thursday it had agreed to continue detailed talks with both Magna and RHJ International on its German unit Opel.
Chrysler Group could again face the prospect of liquidation if legislation aimed at reversing its decision to terminate contracts with 789 dealers becomes law, a company executive said on Wednesday.
The Beijing municipal government will fully support a bid by Beijing Automotive Industry Holding Corp (BAIC) for Ford Motor's Volvo car unit if the Chinese automaker fails in its current quest for General Motors' Opel, sources said on Wednesday.
Canada's Magna 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.
The Beijing municipal government will fully support a bid by Beijing Automotive Industry Holding Corp (BAIC) for Ford Motor's (F.N) Volvo car unit if the Chinese automaker fails in its current quest for General Motors' Opel, sources said on Wednesday.
General Motors [GM.UL] on Wednesday posted a 22 percent global sales drop from a year earlier for the first six months of 2009 amid the economic slowdown and the automaker's slide into bankruptcy.
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.
