ITALY Fiat denies rumours of talks with SAIC just auto
Italian newspaper Il Sole 24 Ore has reported that Fiat is reportedly pursuing partnership negotiations with Shanghai Automotive Industry Corporation SAIC the Chinese state owned group which earlier this month declined to form a partnership with the UK s MG Rover
Fiat s Montezemolo ready to step down Ruggiero eyed as replacement report AFP via Yahoo UK Ireland Finance
MILAN AFX Fiat SpA chairman Luca Cordero di Montezemolo is ready to step down and focus on the group s Ferrari SpA sports car business
Fiat creditor banks to gradually sell company shares report AFP via Yahoo UK Ireland Finance
MILAN AFX Fiat SpA s creditor banks are expected to gradually sell the about 27 pct stake they will hold in the company after the conversion in September of a 3 bln eur loan into Fiat shares
ROUNDUP Agnellis to still control Fiat despite banks becoming largest shrholders AFP via Yahoo UK Ireland Finance
MILAN AFX The Agnelli family which took part in the founding of Fiat SpA more than 1 years ago
USA GM Powertrain announces new leadership for European and Latin American divisions following dissolution of Fiat JV just auto
General Motors Powertrain today named Greg Deveson vice president of GM Powertrain Europe and Walter Othero as general manager of GM Powertrain Latin America
Fiat Debt Insurance Costs Fall as Banks Agree Loan Conversion Bloomberg com
April 27 Bloomberg The cost of insuring the debt of Fiat SpA near a two year high fell after Banca Intesa SpA and other lenders agreed to convert a 3 billion euro 3 9 billion loan to Italy s largest manufacturer into shares
Fiat Agreement With Banks Positive RASbank New Ratings
1437 GMT Dow Jones Fiat s FIA agreement with banks to convert EUR3B loan into equity is positive for carmaker amounting to a rights issue at around EUR1 9 a share that manages to create EUR15 M in lower debt servicing costs while not penalizing other shareholders says RASbank
GM Cuts Cash Payout to CEO The Auto Channel
DETROIT April 29 2 5 Reuters reported that cash compensation paid to General Motors Corp Chairman and Chief Executive Officer Rick Wagoner fell by 43 percent last year as its automotive operations lost money on weaker U S sales and market share GM the world s largest automaker also said in a securities filing on Friday that cash compensation paid to its top five executive officers fell
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