ForexGen Press Releases

General Motors Corp. executives are scheduled to meet with German officials in Berlin today to discuss competing offers for its Opel unit as the U.S. automaker closes in on a deal, three people familiar with the matter said.
The talks will focus on progress on a stake sale to Magna International Inc., the German government’s preferred [...]

Earnings at such companies as Ford Motor Co. and ArcelorMittal may continue to decline in the next three months as the highest unemployment in a quarter-century keeps consumers from spending.
The year-over-year profit slide for Standard & Poor’s 500 Index members may narrow to 21 percent from July through September, after declines of an estimated 34 [...]

The biggest quarterly rally in value stocks is a bearish sign to some of the largest money managers, who say it shows the equity market has relied on companies with the worst finances to fuel its rebound.
Money-losing companies in the MSCI World Value Index with the most debt climbed an average of 38 percent last [...]

As General Motors Corp. prepares to sell its best assets to a streamlined new entity, the worst of what it owns will be auctioned off in bankruptcy court, including contaminated factory sites, parking lots in Flint, Michigan, and a nine-hole golf course in New Jersey.
One property the carmaker is ditching is a foundry in Massena, [...]

A group led by Fiat SpA will complete its purchase of most Chrysler LLC assets this morning New York time, after the U.S. Supreme Court rejected creditors’ objections and cleared the way for a new U.S. automaker, said two people familiar with the matter.
The new company, Chrysler Group LLC, will be owned 20 percent by [...]

General Motors Corp. bond trading shows investors are betting its government-backed bankruptcy will create a company with a higher market value than Ford Motor Co., the only major U.S. automaker to shun a federal rescue.
Bondholders will have a claim to about a 10 percent stake in a so-called “New GM,” the government-controlled automaker that will [...]

General Motors Corp., seeking to shed assets to emerge from bankruptcy, agreed to sell the Hummer sport-utility vehicle brand to China’s Sichuan Tengzhong Heavy Industrial Machinery Co.
Tengzhong will assume Hummer’s dealer agreements and a senior management team, the companies said in a joint statement yesterday. GM and Tengzhong also plan to form a long-term contract [...]

Penske Automotive Group Inc., an operator of U.S. and U.K. auto dealerships, and private-equity firm Black Oak Partners LLC emerged as finalists to buy General Motors Corp.’s Saturn, people familiar with the talks said.
A third company that has expressed interest in Saturn may join the group as GM narrows the field of possible suitors, said [...]