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Japan Expects Little Domestic Impact From GM Bankruptcy - Beurs.nl
TOKYO (AFP)--Japan said Monday it didn&os;t expect any major impact at home from the expected imminent bankruptcy of auto giant General Motors Corp. (GM) but would mull emergency measures for parts makers. &os;We are not seeing any confusion now&os; due to ...
Feed Digest

Australia April new home sales up 0.5 pct-industry - ninemsn
SYDNEY, June 1 (Reuters) - Sales of new houses in Australia rose for a fourth straight month in April as low mortgage rates and generous government grants drew first-time buyers, an industry survey sh...
Big News Network

Vauxhall deal leaves UK jobs in limbo
Unions are calling on the government to force the new owners of Vauxhall to divulge their plans for the company's British workforce after the business secretary, Lord Mandelson, admitted he did not know if jobs at Vauxhall's Luton and Ellesmere Port plants would be safe.The Canadian car parts maker Magna and the Russian bank Sberbank agreed at the weekend to take control of the European arm of General Motors, which includes Vauxhall and its German sister company Opel, in a deal backed by loans from the German state.The rest of the company is expected to declare itself bankrupt, seeking legal protection from its creditors after running up losses of $81bn (£50bn) over four years. Its bankruptcy filing will be the third largest in US history, behind last year's collapse of the Wall Street bank Lehman Brothers and the demise of the telecoms firm WorldCom in 2002.When Mandelson was asked to say that the two Vauxhall plants would not be closed, during an interview with Radio 4, he admitted:
Guardian

China regulator warns banks against risky loans
*Have you created IDs and passwords to enter other SPH online sites such as AsiaOne Careers? If so, then checking this box will mean that your BTO ID and password will override those earlier IDs an...
India Gazette

Demand applies brakes to plummeting house prices
A shortage of new homes for sale has ended house price falls, according to figures published today, adding weight to claims that the market has begun to stabilise. Hometrack, the housing market...
Big News Network

General Motors Dealers Ready for Bankruptcy
(NYSE:GM) slides toward bankruptcy. The automaker, which has received nearly $20 billion in loans from the federal government, is racing to meet a government-imposed deadline Monday to dramatically re...
Big News Network

India's syndicated loans up 9% in Jan-May
India's syndicated loans totalled $14.1 billion for the period January-May this year, highlighting one of the few nations to post a 9% year-on-year volume increase.
The Times Of India

Cameron backs `recall` for errant MPs
. Tory leader defends his expenses for second home. Voters could get powers to force MPs into byelectionsDavid Cameron yesterday raised the prospect of introducing a 'recall system' to deal with offending MPs, as his own expenses claims came under renewed scrutiny.The Tory leader is pushing for a July or September general election to draw a line under the expenses saga.But yesterday he appeared to compromise, saying if his calls were unheeded he would 'start looking at recall powers', which give voters the chance to force a snap byelection if their MP has been caught flouting parliamentary rules.The US recall system, raised 15 months ago by Liberal Democrat leader Nick Clegg, allows 5% of the electorate to trigger a snap byelection - but has only unsteated two governors in US political history.The Tory leader is trying to tap voter frustration that the 13 Conservative and Labour politicians who have announced they will stand down at the next election will remain in position possibly f
Guardian

Foreclosures may add to hurricane threats
Unoccupied, foreclosed homes would be defenseless in a storm; there will be no one to put up shutters, batten down garage doors and otherwise secure homes.
Msn

General Motors expected to file for Chapter 11
Many reports over the weekend have speculated that General Motors (GM) is expected to file for Chapter 11 bankruptcy tomorrow. The century-old car maker, which was once the biggest company in the world, reaches its deadline tomorrow of restructuring the business in order to achieve a multi-billion dollar loan from the Government to avoid bankruptcy protection. [...]
Finance Markets

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