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Drones over U.S. may pose security risks
DETROIT, July 3 (UPI) -- General Motors Co. is seeking a $5 billion line of credit from banks to repay debt and prepare for possible sluggish U.S. sales, a newspaper reported Saturday.
The line of credit would help GM in its quest to operate without further government help, The Detroit Free Press said.
The Free Press, citing an unnamed source close to talks with banks, said GM is looking to the loans to help repay some of its debt, which stood at $14 billion as of March 31, and to prepare to weather another slide in U.S. vehicles sales.
GM, which had $23.3 billion in cash at the end of the first quarter, repaid the final $5.8 billion of U.S. government loans in April but the federal government still owns a 61 percent stake in the company. The government is expected to sell some of its shares at a public stock offering this year.
GM sales rose 14 percent the first half 2010, while its market share fell from 19.6 percent to 19.2 percent.
The automaker, which posted an $865 million first-quarter profit, is dumping its Hummer, Pontiac, Saab and Saturn brands as part of a restructuring.
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VIENNA, Feb. 10 (UPI) --
Oil prices were expected to trend higher as an improved U.S. economy and geopolitical risk in the Middle East weigh on markets, OPEC said.
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ISLAMABAD, Pakistan, Feb. 10 (UPI) --
The last three of 18 new and upgraded F-16 fighter jets from the United States arrived in Pakistan, a report by the Indo-Asian News Service said.
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For the first time since the condo crash of 2007, Florida median existing condo prices came roaring back 2011, rising by a hefty 5 percent on a quarter-to-quarter basis....
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