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.
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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.
The Canadian government announced last Tuesday that it would sell 30 million General Motors common shares.
Peugeot unions voiced concerns in the proposed deeper tie-up plans for the company and General Motors.
GM expands interests in South Korea.
General Motors and alliance partner PSA Peugeot Citroen will build all three planned joint vehicle programs
