GM has viable plan to exit bankruptcy: Obama

WASHINGTON - US President Barack Obama Monday said he believed General Motors (GM) had developed a viable plan that will allow it to quickly exit bankruptcy.

General Motors CEO Henderson says automaker will be leaner, quicker after bankruptcy court

NEW YORK — General Motors CEO Fritz Henderson says the new GM will be a leaner and quicker company that’s more focused on its customers and its products.

GM India remains unaffected by parents’ bankruptcy petition

CHENNAI - Even as its American parent General Motors (GM) has filed a bankruptcy petition, its Indian subsidiary GM India announced Monday that it remains unaffected.

Obama pushes GM into bankruptcy, commits additional $30 billion to help company

WASHINGTON — President Barack Obama pushed a humbled General Motors Corp. into bankruptcy on Monday and said the federal government will act as “reluctant shareholder” when it assumes a 60 percent ownership of the smaller carmaker that emerges.

GM files for bankruptcy, to eleminate over 30,000 jobs (Second Lead)

NEW YORK - Storied carmaker General Motors (GM) filed for bankruptcy Monday, becoming the largest-ever US manufacturer to enter the court process and marking the latest dark chapter for the struggling US auto industry.

GM says no impact from bankruptcy on China operations; looking for growth opportunities

SHANGHAI — General Motors Corp. said Monday that its U.S. bankruptcy filing will have no impact on its thriving China operations, reaffirming what it called its “aggressive growth strategy.”

Senate committee to hear from GM, Chrysler executives on dealer closings

WASHINGTON — Top executives from General Motors and Chrysler will appear before a Senate committee Wednesday to address concerns about hundreds of dealership closings as the two automakers work through government-led bankruptcies.

Wall Street extends gains after upbeat data on construction spending, manufacturing

NEW YORK — Wall Street is starting June with a big gain, boosted by reports that paint a more upbeat picture of the global economy.

General Motors says it will close 9 more plants, idle 3 others as part of reorganization

DETROIT — General Motors Corp. said Monday it will permanently close nine more plants and idle three others to trim production and labor costs under bankruptcy protection.

General Motors workers ‘go with the flow,’ hope for change after historic bankruptcy filing

DETROIT — For General Motors Corp. workers and others across the nation, reaction to the automaker’s historic bankruptcy filing Monday and the effect on their plants and lives ranged from resignation to fear.

Analysis: Obama now owns GM, though he says he’s taking it only for a short spin

WASHINGTON — President Barack Obama couldn’t let General Motors fail, but he won’t concede he’s taking over the company.

Are GM crops the answer to Africa’s food crisis?

ADDIS ABABA - With Africa’s population steadily growing, the debate over genetically modified (GM) crops in the continent has gained special resonance.

GM makes huge dealer cuts, follows move by Chrysler

WASHINGTON - General Motors Corp, the US auto giant nearing bankruptcy, Friday announced massive cuts in its dealership network as part of a drastic effort to cut costs and survive the global recession.

VW, Kia rev up new assembly plants in the South while auto industry wallows in red ink

CHATTANOOGA, Tenn. — Volkswagen AG executives celebrate raising the first walls of their $1 billion assembly plant Thursday in Chattanooga, Tenn., giving them a chance to smile amid the auto industry’s global despair.

Chinese import plans could bring political troubles in US for General Motors

DETROIT — As thousands of General Motors workers await word on more U.S. plant closures, reports that the company plans to import Chinese-made vehicles to the U.S. have created a political problem for the automaker and the White House.

Wall Street pulls back after weaker-than-expected retail sales report, jump in foreclosures

NEW YORK — Investors are looking at the economy more skeptically.

Small auto suppliers say they’re vulnerable from GM, Chrysler downturn

WASHINGTON — Auto suppliers appealed to lawmakers Wednesday for federal support, warning that the U.S. supply base could buckle under from the declining fortunes of General Motors Corp. and Chrysler LLC.

Reports: GM recovery plan calls for exporting China-built cars to US by 2011

SHANGHAI — General Motors Corp. plans to begin exports of vehicles made in China to the United States within two years, ramping up sales to more than 50,000 by 2014, reports said Wednesday.

Wall Street fluctuates after sell-off; investors look for next catalyst for 2-month rally

NEW YORK — Wall Street is back on the defensive.

Wall Street fluctuates after sell-off; investors look for next catalyst for 2-month rally

NEW YORK — Investors searching for fuel to extend a two-month rally are finding little reason to step into the market.

General Motors shares fall as new stock offering, bankruptcy threat scare investors

DETROIT — Shares of General Motors Corp. tumbled to their lowest level since 1933 Tuesday morning as investors feared significant dilution of their stock values or bankruptcy as the company approached a June 1 restructuring deadline.

Wall Street fluctuates after sell-off; investors look for next catalyst for 2-month rally

NEW YORK — Wall Street showed little direction early Tuesday as investors searched for the next catalyst that could extend a two-month rally.

After pause in two-month rally, Wall Street set for higher opening

NEW YORK — Wall Street is set for a higher open Tuesday, looking to bounce back and extend its recent two-month rally. Stock futures were moderately higher.

After pause in two-month rally, Wall Street set for mostly higher opening

NEW YORK — Wall Street is set for a mostly higher open Tuesday, looking to bounce back and extend its recent two-month rally. Stock futures moved higher.

After pause in two-month rally, Wall Street set to resume gains

NEW YORK — Wall Street is set for a modestly higher open Tuesday, looking to bounce back and extend its recent two-month rally. Stock futures moved higher.

Warriors finally cut ties with GM Chris Mullin after lengthy power struggle

OAKLAND, Calif. — The Golden State Warriors finally cut ties with top basketball executive Chris Mullin on Monday, nearly a year after the former star player apparently lost his authority to run the troubled franchise.

GM chief says move out of Detroit isn’t a priority but possibility concerns politicians

DETROIT — General Motors Corp.’s chief has left the door open to the automaker moving its corporate headquarters out of Detroit, prompting concern by some lawmakers and clarification by the automaker.

General Motors CEO says tasks are large to avoid bankruptcy, but he still holds out hope

DETROIT — Bankruptcy protection for the nation’s biggest automaker is becoming more probable with a deadline just over two weeks away, the company’s top executive told reporters Monday.

Olympic medallist wrestler Sushil, coaches get a rap

NEW DELHI - The Wrestling Federation of India (WFI) has taken a serious view of Olympic bronze medallist Sushil Kumar’s recent acts of misdemeanor and asked him to show cause why disciplinary action should not be taken against him.

Report: German economy minister says Fiat, Magna bids for Opel both leave questions open

BERLIN — Germany’s economy minister was quoted as saying Saturday that questions remain over plans by both Fiat SpA and auto parts maker Magna International Inc. to invest in General Motors’ main European unit, Opel, and stressed that he is equally open to both suitors.