Toyota Electric Car May Have Half the Range of GM's, People Familiar Say

(Bloomberg) -- Toyota Motor Corp.'s plug-in electric
car may have less than half the range of a competing vehicle
planned by General Motors Corp., people with knowledge of both
companies' development programs said.

GM wants its Chevrolet Volt to travel at least 40 miles
after being charged once at a normal household outlet, while the
Toyota model may go no more than 20 miles on a single charge,
said the people, who asked not to be identified because details
of the plans are still secret.


Read more at Bloomberg Exclusive News

US STOCKS-Wall St. rises on data, GM earnings

(Reuters) - NEW YORK, July 31 - U.S. stocks climbed on
Tuesday after General Motors Corp. added to optimism
about corporate earnings and a key inflation indicator showed a
smaller-than-expected rise.




GM shares jumped 6 percent to $34.56 after the blue-chip
automaker swung to a profit in the second quarter and handily
topped Wall Street's expectations. For details, see
[ID:nN30442082].


Read more at Reuters.com Bonds News

UAW members back Delphi deal in early returns

(Reuters) - The UAW leadership is expected to release results on Friday of the vote at numerous local units on a deal that includes pay and benefit cuts and eventual plant closings Delphi has said it must have to exit bankruptcy.




The deal would remove a major barrier to Delphi's reorganization and the threat of a strike that could cripple the company and former parent General Motors Corp. , Delphi's biggest customer.


Read more at Reuters.com Business News

GM to Raise $5.2 Billion From Convertible Bond Sale, Loan Secured by GMAC

(Bloomberg) -- General Motors Corp., the largest U.S.
automaker, plans to offer $1.1 billion in convertible debt
securities and take out a $4.1 billion revolving credit facility
secured by the automaker's holdings in the GMAC LLC finance unit.

The convertible bond replaces a $1.1 billion convertible
issue the company paid out in March, the Detroit-based automaker
said today in a statement. The revolving credit, secured by GM's
49 percent stake in GMAC, would be used for general corporate
purposes, GM said.


Read more at Bloomberg Bonds News

Palladium Buying by Ford, Fortunoff, Hedge Funds May Spark Metal's Revival

(Bloomberg) -- From Ford Motor Co. to Fortunoff to
Schroders Plc, the demand for palladium is increasing fast
enough to outstrip the supply and make it this year's best
investment among precious metals.

Sales will rise 6.5 percent in 2007, according to precious
metals consultant CPM Group, after Ford, General Motors Corp.
and other automakers used 32 percent more palladium in car-
exhaust systems the past five years. Fortunoff started selling
palladium wedding bands in November and says the metal already
represents 10 percent of the market.


Read more at Bloomberg Emerging Markets News

GM eyes more China buys amid consolidation

(Reuters) - GM CEO Rick Wagoner told reporters ahead of the April 22-28 Shanghai Auto Show that the U.S. automaker was interested in maybe buying smaller local operations in China as a tool to expanding in the world's fastest-growing car market.

"We've been playing in the consolidation business and it worked great for SGM, and we'd be interested in more," Wagoner said, referring to a tie-up with Shanghai Automotive Co. Ltd. .


Read more at Reuters.com Mergers News

Brazilian Manufacturing Jobs Vanish as Rally in Currency Pinches Profits

(Bloomberg) -- Brazil's surging currency is eroding exports for manufacturers of goods ranging from cars to teddy bears and undermining President Luiz Inacio Lula da Silva's efforts to lower unemployment.

``I have no choice but to raise prices,'' said Ray Young, president and managing director of General Motors Corp.'s operations in Brazil. He fired 900 workers last year because exports dropped 21 percent. ``Will they pay more or drop us? I don't know at this point. That's my biggest worry.''


Read more at Bloomberg Currencies News

No bonuses for top GM executives: report

(Reuters) - Full details on executives' compensation will be released next month when the company files its annual proxy statement, the Times said.




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European shares open firmer, Daimler in focus

European shares opened firmer after strong performance in Japanese shares, and amid a slew of corporate news, while U.S. and several Asian markets are closed Monday.

The pan-European FTSEurofirst index of 300 leading shares rose 0.18 percent by 0802 GMT to 1,546.77 points.

London's FTSE 100 was up 0.3 percent, the French CAC 40 rose 2 percent and Germany's DAX gained 0.4 percent.

DaimlerChrysler shares rose 3.2 percent on news it was in talks with General Motors over the future of its ailing U.S. unit Chrysler.

Read more at Reuters South Africa

GM in early talks to buy Chrysler

General Motors Corp. is in preliminary talks to buy Chrysler, the struggling U.S. arm of DaimlerChrysler AG, or to strike a strategic alliance with the rival automaker, sources familiar with the situation said on Friday.

There was deep skepticism on Wall Street about whether such a merger made sense for GM and whether it could ever happen.

An outright takeover of the Chrysler Group by GM would risk complicating the turnaround efforts of both companies, analysts said, even as it created an industry giant with a nearly 40 percent share of the U.S. market.

Read more at Reuters South Africa