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U.S. markets recover from steep losses
DETROIT, Oct. 11 (UPI) -- Cerberus Capital Management LP is talking to General Motors Corp. about the possibility of acquiring the Detroit automaker's lending division.
A source described as familiar with the negotiations told The Detroit News Saturday Cerberus is exploring a swap in which it would become the sole owner of GMAC and GM would get the automotive operations of Cerberus's Chrysler LLC. Cerberus, a private equity fund, bought a 51-percent stake in GMAC in 2006 for $14.1 billion.
Neither GM nor Cerberus would comment Saturday, the News said.
GMAC posted a $2.5 billion second-quarter loss in August, compared to a $293 million profit in the year-earlier period.
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BISMARCK, N.D., May 24 (UPI) --
An official in North Dakota said it's important to move crude oil out of the Great Lakes region and into refineries along the southern U.S. coast.
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SCOTTSDALE, Ariz., May 24 (UPI) --
Commercially sold Samsung smartphones and tablets will feature defense-grade cyber and information security systems under a partnership with General Dynamics.
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First-time buyers are driving the expectations that a recovery has begun. Their numbers and market share are growing despite financing roadblocks and competition with investors for entry-level homes. ...
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It is a whole new ball of wax in Europe these days.
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