Country Life In The City

Chrysler’s 30 April deadline is looming. The US government gave them this time to formulate a restructuring package sound enough to earn a further bailout payout. Chrysler are trying to secure deals with  Fiat SpA and a group of creditors, but talks collapsed between the US Treasury department and lenders, meaning that bankruptcy was “all [...]

Mitsubushi, Japan’s fourth largest car manufacturer went into the red in the last financial year, another victim of the auto industry’s continuing problems,  but it forecast a turnaround in the next 12 months. Mitsubushi’s losses totalled 54.9 billion yen for the year to March compared to a profit of 34.7 billion yen the preceding year. [...]