US parent bankrupt, but GM India plans new car

October 15th, 2009 MUMBAI - Rajasthan crude oil fields operator Cairn India Thursday said it had sold a 2.3 percent stake to Malaysian oil major Petronas and raised $1.6 billion through domestic and overseas channels to repay an existing debt and fund further investment needs. The Cairn India scrip rose 3.45 percent to Rs.289 on the news, before slipping to Rs.284.20 around 11.20 a.m.

October 5th, 2009 No more Chicago Sun-Times suitors before deadlineCHICAGO — No one else stepped forward with a bid for the bankrupt Chicago Sun-Times before a Monday evening deadline, leaving just one offer for the storied newspaper that's rapidly running out of the cash it needs to stay in business. The standing offer for the parent company, the Sun-Times Media Group Inc., is from hometown investor Jim Tyree, who has insisted that workers agree to concessions before he'll seal the deal that could be the paper's last chance of survival.

September 23rd, 2009 Ford to make low-cost compact car in IndiaNEW DELHI — Ford Motor Co. will manufacture a low-cost compact car in India from early next year, the automaker said Wednesday, as it seeks to boost sales in fast-growing Asia.

September 15th, 2009 SEOUL - GM Daewoo hopes to make inroads into the mini-car market with its first such vehicle now on sale in South Korea and due to come to Europe at the start of 2010. It will be assembled at GM plants in India, Vietnam, Columbia and Uzbekistan.

August 26th, 2009 NJ approves new Tropicana ownership led by IcahnATLANTIC CITY, N.J. — New Jersey regulators approved a plan Wednesday for the former corporate parent of Atlantic City's bankrupt Tropicana Casino and Resort to operate the business again as a reorganized company owned by a group of investors led by billionaire Carl Icahn.

August 12th, 2009 Record number of Dutch bankruptcies in H1 2009AMSTERDAM — A record number of companies went bankrupt in the first half of 2009, the country's Central Bureau for Statistics said Wednesday. In all 3,500 businesses went bankrupt, double the number that failed last year and the most since the agency began keeping data in 1981.

July 28th, 2009 Frontier reports 2Q profit of $12.6MDENVER — The parent of Frontier Airlines, which is operating under bankruptcy protection and plans to be absorbed by Republic Airways Holdings, said it recorded a $12.6 million net profit for the second quarter, compared with a year-ago-loss of $57.7 million. That came despite quarterly revenue falling more than 23 percent to $275.6 million, compared with $360.5 million a year earlier.

June 30th, 2009 Sector Snap: Airline shares lowerATLANTA — Airline shares dropped Tuesday as the broader stock market declined sharply after a private research group said consumer confidence unexpectedly fell in June. Benchmark crude for August delivery dipped $1.60 to settle at $69.89 a barrel on the New York Mercantile Exchange after swinging between $68.90 and $73.38 in early trading.

June 19th, 2009 Resort founder has 10 days for asset decisionsBILLINGS, Mont. — The bankrupt co-founder of Montana's millionaires-only Yellowstone Club has 10 days to arrange how she will part with jewelry, furs, cars, houses, art and furniture.

June 9th, 2009 Massachusetts settles with mortgage lenderBOSTON — A bankrupt California-based subprime mortgage lender has agreed to pay $10 million to settle allegations of unfair practices that contributed to the current spike in Massachusetts home foreclosures. Massachusetts Attorney General Martha Coakley said Tuesday that Fremont Investment & Loan and its parent company, Fremont General Corp., will pay $8 million in consumer relief, $1 million in civil penalties and $1 million in costs, including attorney fees.

June 3rd, 2009 Mass. company lists cadavers among its assetsMANSFIELD, Mass. — A bankrupt Massachusetts medical device maker left behind some gruesome assets when it shut down earlier this year.

June 1st, 2009 CHENNAI - Even as its American parent General Motors (GM) has filed a bankruptcy petition, its Indian subsidiary GM India announced Monday that it remains unaffected. GM has filed a bankruptcy petition under Chapter 11 of the United States Bankruptcy Code.

March 20th, 2009 PANAJI - Philips Electronics India Friday gave a big push to its expansion in the country by launching over 150 new products in the lighting and home decorative sector and a new line of home healthcare products. With demand slowing down in its key lighting and electronics sectors, the company is now planning to expand its medical equipment business.

March 7th, 2009 BHUBANESWAR - POSCO-India, which is setting up a $12-billion steel plant in Orissa's Jagatsinghpur district, Friday announced that it has appointed Choon-Kuhn Kwon as its new chairman and managing director (CMD). The 55-year-old Kwon, one of the directors of the South Korea-based parent company POSCO, is well acquainted with the Jagatsinghpur project and has been associated with it since its conceptualisation, a company statement said.

February 27th, 2009 NEW DELHI - National Aviation Co of India Ltd (NACIL), the parent company of national carrier Air India, has sought an equity induction of Rs.1,231 crore (Rs.12.31 billion/$245 million), along with a soft loan of Rs.2,750 crore (Rs.27.5 billion) from the government, Civil Aviation Minister Praful Patel told parliament Thursday. 'The airline industry globally, including the Indian airline industry, is passing through one of the most critical periods in its history,' Patel said.