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Building insurer absorbed by parent (Southern Highland News) THE insurance company at the centre of a Senate inquiry and the Beechwood Homes collapse has had its executives sacked and its independent operations repossessed by its parent company.
U.S. Carmakers Said to Seek $50 Billion in U.S. Loans (Update5) (Bloomberg) Nov. 7 (Bloomberg) -- General Motors Corp. , Ford Motor Co. and Chrysler LLC, strapped for cash as sales plunge, are seeking $50 billion in federal loans to help them weather the worst auto market in 25 years, a person familiar with the matter said.
Obama sets sights on stricken US auto industry (The Economic Times) US President-elect Barack Obama vowed swift moves to help the country's auto industry recover from an economic crisis that has brought car-making giants to their knees, after General Motors said on Friday it was on the brink of collapse.