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GM, GMAC loosen finance pact after lender bailout NEW YORK (Reuters) - GMAC LLC on Friday said that as part of its $6 billion federal bailout and decision to become a bank, it will no longer have the exclusive right to provide low-interest loans to borrowers who buy General Motors Corp cars and trucks. ReutersStocks start New Year at 2-week high NEW YORK (Reuters) - Stocks started 2009 by extending their recent rally to a two-week high on Friday on hopes that the worst of the market rout was over, and General Motors Corp. jumped 10 percent after a rescue loan from the government. ReutersGovernment Money Starts Flowing into Auto Industry WASHINGTON (dpa) - The U.S. government moved during the New Year's holiday to free up more money for auto loans and to start the emergency infusion of billions of dollars directly into the industry to keep it afloat.... Hispanic BusinessUPDATE 1-NovaGold strikes $60 mln financing deal OTTAWA, Jan 2 (Reuters) - NovaGold Resources Inc said on Friday it has struck a $60 million private placementdeal with Electrum Strategic Resources and will use the cash torepay debt and fund exploration and development. ReutersGMAC gives up some GM financing rights via bailout NEW YORK (Reuters) - GMAC LLC on Friday said that as part of its $6 billion federal bailout and decision to become a bank, it will no longer have the exclusive right to provide low-interest loans to borrowers who buy General Motors Corp cars and trucks. ReutersDebenhams to raise cash to cut debt levels Britain's biggest department store chain and two leading entrepreneurs showed growing signs of strain as the recession tightened its grip on the high street. Debenhams, the private equity owned chain, is planning to raise more cash to reduce debt levels, amid worsening prospects FT.comFitch upgrades Wachovia on Wells Fargo acquisition NEW YORK, Jan 2 (Reuters) - Fitch Ratings on Friday raisedits rating on Wachovia Corporation, citing its acquisition byhigher-rated Wells Fargo & Co , which assumed Wachovia'sdebt. ReutersGMAC gives up some GM car financing in bailout DETROIT (AP) -- GMAC will no longer have exclusive rights to provide low-interest loans to people who buy General Motors Corp. vehicles, and it will stop financing leases under a complex deal to get federal aid for the troubled lender.... The Arizona RepublicMortgage lending falls to new record low The home loans drought has deepened with mortgage borrowing activity dropping to another record low in November and banks further restricting access to loans over the past three months. The Bank ... Big News NetworkLyondellBasell May Seek Chapter 11 Bankruptcy Protection The chemicals maker, controlled by the investor Len Blavatnik, is looking to restructure debt that financed its $12.7 billion merger a year ago. The New York Times1 2 |
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