U.S. judge approves sale of GM assets

A U.S. federal judge in the GM bankruptcy case late Sunday approved the sale of the troubled automaker’s assets to a "new GM," court documents showed. Judge Robert Gerber, in giving his approval, said it “is the only available means to preserve the continuation of GM’s business.” Lawyers wrapped up their closing arguments in the bankruptcy case Thursday, giving Gerber the long holiday weekend to make his decision

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Fiat move for GM would create $100B giant

Fiat Group, fresh from an agreement to buy a piece of troubled automaker Chrysler, has plans to purchase GM Europe and spin-off the recombined carmakers into a new company. If successful, the new company would become one of the largest car manufacturers in the world behind Toyota. The combined company would generate about $100 billion annually with sales of between 6 and 7 million cars a year

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