VENTURE CAPITAL POST

China-based car parts conglomerate Wanxiang has sweetened its bid for failed US electric car maker Fisker Automotive in a battle with its rival suitor, Hong Kong-based firm Hybrid Technology.

The officials of Caddo Parish's Industrial Development Board closed the deal on Friday afternoon to acquire the former General Motors (GM) facility from RACER Trust for $7.5 million.

As part of a $1.3-billion investment in five US plants, General Motors (GM) is pouring in $600 million in its oldest assembly plant in Flint, Michigan, to set up a state-of-the-art paint facility and other upgrades.

General Motors Co has not yet arrived at a decision on whether to exit manufacturing in Australia but said government help would be needed for its long-term survival.

The US government has finally sold its last remaining stake in General Motors, the largest automaker in the US in terms of sales, according to a Financial Times report.

General Motors (GM) is investing USD11 million to build a new source of energy for its Fort Wayne Assembly Plant, a move that will save the company USD5 million a year.

A source told Reuters that hedge fund Hayman Capital has acquired a stake in General Motors and believes that the stock price of the automaker will soar once the US Treasury has exited its remaining stake in the firm.

General Motors Co said there were no problems with its partnership with Shanghai Automotive Industry Corp.

Peugeot weighing options between a cost cutting partnership with GM or an expansion push with Dongfeng.

The noteholders of GM Nova Scotia used a local law loophole to allow its earnings to double from the bankruptcy proceedings.

General Motors newly issued unsecured bonds were offered to the market and was lauded as preparatory for the return to investment grade status.

GM debt had been upgraded by Moody's Investment Service to investment grade from junk status.

General Motors Co said it would undertaking a share buyback of some of its preferred shares held by a United Auto Workers healthcare trust.

Fiat buys out GM to become sole owner of diesel engine manufacturer VM Motori.

The Unifor union and GM Co. was able to meet and agree on the new collective bargain agreement.