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General Motors has repaid the €1.5 billion in bridging loans it received from Germany to keep Opel, its troubled European marque, afloat. Full Article at Times Online
As executives of General Motors met Monday with European officials to ask for financial help in restructuring its struggling auto operations on the Continent, Germany reopened a bitter public debate over state aid and job protections that has sharply... Full Article at Dealbook
German Gref, CEO of Russian Sberbank and Siegfried Wolf (R), co-CEO of auto part producer Magna Inc. follow the presentation of Opel chairman Carl-Peter Forster (C) at a Opel press conference during the media day at the international car show "IAA" in F... View Photo »
Try as we might to fashion a deal with Magna and Sberbank that would retain a close tie with General Motors over time, there was really no guarantee that would be the outcome and that sort of leaves potentially a pretty big strategic hole for General Motors to deal with
By Peppi Kiviniemi, Adam Cohen And Matthew Dalton BRUSSELS -- General Motors Co. wants European Union governments to help provide €3.3 billion ($4.9 billion) for its Adam Opel GmbH unit, but will restructure the auto maker without state help if needed,... Full Article at Wall Street Journal
Germany warns fellow EU gov'ts against GM jobs aid The Associated Press Related: http://www.gm.com More News Germany warned fellow European governments on Monday against offering financial aid to General Motors Europe in exchange for job guarantees,... Full Article at KansasCity.com
FRANKFURT, Germany - Germany warned fellow European governments on Monday against offering financial aid to General Motors Europe in exchange for job guarantees, hours ahead of a meeting in Brussels to discuss the future of the company. Full Article at Canadian Business Online
Chief of Russia's Sberbank German Gref, right, and co-CEO of Austria's Magna company Siegfried Wolf, left, are seen during a press conference in Frankfurt, central Germany, Monday, Sept. 14, 2009. View Photo »
The fallout from General Motors decision to keep its German subsidiary Opel, instead of selling it to a team of a Canadian auto parts manufacturer, Magna, and the Russian Sberbank, has spread to a disagreement between the two top executives of GM and... Full Article at New Europe News
Despite being generally regarded as a bad deal, work stoppages began almost as soon as it was announced that the Magna deal had folded. Volker Hartmann / AFP In the end, the news hardly came as a surprise. There was very little choice really. Full Article at The National Newspaper
Sberbank (MICEX:SBER RTS:SBER) (Russian: Сбербанк, a contraction of "сберегательный банк"; English: "Savings Bank of the Russian Federation") is the largest bank in Russia and Eastern Europe. Its headquarters are in Moscow and its history goes back to Cancrin's financial reform of 1841. Full Article
CEO for General motors Europe, Nick Reilly looks up during a meeting with Minister-President of the Flemish Government Kris Peeters, unseen, at his office in Brussels, Monday, Nov. 16, 2009.
View Photo »CEO for General motors Europe, Nick Reilly, looks up during a meeting with Minister-President of the Flemish Government Kris Peeters, unseen, at his office in Brussels, Monday, Nov.16, 2009.
View Photo »Thousands of Opel workers walk along a street in Ruesselsheim, central Germany, Thursday, Nov. 5, 2009.
View Photo »The Opel Logo is seen on the rusting hood of an old Opel car at a junk yard in Ludwigsburg, Germany, Thursday, Nov. 5, 2009.
View Photo »Old Opel cars are seen at a junk yard in Ludwigsburg, Germany, Thursday, Nov. 5, 2009. Employees of General Motors Co.'s unit Opel are planning protests and work stoppages at four German factories against the decision to abandon the sale of the automaker.
View Photo »Employees of German car maker Opel protest at the company's factory in Kaiserslautern, Germany, on Thursday, Nov. 5, 2009.
View Photo »A view of the Vauxhall factory is pictured in Luton, north of London, on November 4, 2009. The British government said Wednesday it was keen to hold talks with General Motors after it scrapped plans to sell British carmaker Vauxhall, which with Opel is part of GM's European operation.
View Photo »A Vauxhall employee walks along a line of newly completed vans at the Vauxhall factory in Luton, north of London, on November 4, 2009.
View Photo »A transporter is parked near a line of newly completed vans at the Vauxhall factory in Luton, north of London, on November 4, 2009.
View Photo »Opel cars seen, at an Opel car dealership, in Hamburg, northern Germany, Wednesday Nov. 4, 2009.
View Photo »Opel cars seen, at an Opel car dealership, in Hamburg, northern Germany, Wednesday Nov. 4, 2009.
View Photo »Raindrops seen on an Opel logo, on a car at an Opel dealer in Hamburg, northern Germany, Wednesday, Nov. 4, 2009.
View Photo »Opel cars seen, at an Opel car dealership, in Hamburg, northern Germany, Wednesday Nov. 4, 2009.
View Photo »The Opel logo is seen at a car dealership, in Frankfurt, central Germany, Wednesday, Nov. 4, 2009.
View Photo »A red traffic light is seen at the entrance of the Bochum car plant of Opel on Wednesday Nov. 4, 2009.
View Photo »FILE - In this Nov. 4, 2009 file photo Germany's Economy Minister Rainer Bruederle arrives for the weekly cabinet meeting at the chancellery in Berlin, Germany.
View Photo »Spanish Minister of Industry Miguel Sebastian (L) talks to Siegfried Wolf, co-CEO of auto-parts maker Magna Inc. , during a meeting in Madrid October 13, 2009.
View Photo »Spanish Minister of Industry Miguel Sebastian (L) talks to Siegfried Wolf, co-CEO of auto-parts maker Magna Inc. , during a meeting in Madrid October 13, 2009.
View Photo »Spanish Minister of Industry Miguel Sebastian (L) talks to Siegfried Wolf (2nd L), co-CEO of auto-parts maker Magna Inc. , during a meeting in Madrid October 13, 2009.
View Photo »Spanish Minister of Industry Miguel Sebastian (L) talks to Siegfried Wolf, co-CEO of auto-parts maker Magna Inc. , during a meeting in Madrid October 13, 2009.
View Photo »Employees and union members stand in front of a sign which reads 'done with the closings' during a demonstration at the GM-Opel factory in Antwerp, Belgium, on Wednesday Sept. 23, 2009.
View Photo »A worker holds up a sign which reads ' Don't destroy my job' during a demonstration outside the GM-Opel factory in Antwerp, Belgium on Wednesday Sept. 23, 2009.
View Photo »Opel employees stand in front of a banner which reads 'We Are Opel' during a demonstration at the GM-Opel factory in Antwerp, Belgium, Wednesday Sept. 23, 2009.
View Photo »An unidentified German Opel employee stands in front of the GM-Opel factory in Antwerp, Belgium, prior to a demonstration on Wednesday Sept. 23, 2009.
View Photo »Flemish Minister President Kris Peeters speaks with journalists on September 16, 2009 after his meeting focusing on auto manufacturer Opel with EU competition commissioner Neelie Kroes at EU headquarters in Brussels.
View Photo »CEO for General motors Europe, Nick Reilly, looks up during a meeting with Minister-President of the Flemish Government Kris Peeters, unseen, at his office in Brussels, Monday, Nov.16, 2009.
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