Reuters - 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.
Reuters - General Motors Corp and the U.S. government finalized plans on Sunday for the battered company to reorganize, setting the stage for America’s largest-ever industrial bankruptcy and heralding a new and uncertain era for the No. 1 U.S. automaker.
Reuters - 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.
Reuters - Irish biotech firm Elan Corp is in late-stage talks to sell a minority stake to Bristol-Myers Squibb Co , a deal that could be a precursor to a full takeover of Elan, the Wall Street Journal reported on Saturday.
Reuters - Three private equity firms have agreed to invest up to $450 million in First Southern Bancorp Inc, giving them control of a small Florida lender that could be used to acquire more banks.
AFP - The world’s number one retailer Wal-Mart opened its first sales venture in India on Saturday as part of an ambitious plan to establish a foothold in the country’s vast consumer market.
AP - Wall Street sealed the third month of its spring rally with a huge advance. The fourth month looks a little less certain.
Reuters - MetLife Inc Chief Executive Robert Henrikson on Friday said the economic crisis has made it imperative that the life insurance industry be given a voice in Washington.
Reuters - The Federal Housing Administration will allow the new $8,000 first-time homebuyer tax credit to be applied directly toward home purchase costs when using an FHA-insured mortgage, the Department of Housing and Urban Development said on Friday.
Reuters - General Motors Corp and the U.S. government finalized plans on Sunday for the battered automaker to reorganize, as a majority of debtholders helped clear the way to a massive bankruptcy filing expected on Monday.