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DETROIT/WASHINGTON (Reuters) – Chrysler LLC filed for bankruptcy on Thursday and announced an industry-changing deal with Fiat, after being pummeled by sliding auto sales and unable to reach agreement on restructuring its debt.

Long-term mortgages reclaimed record low status this week as the 30-year fixed rate mortgage (FRM) dropped to 4.78 percent. This ties the record that was set on April 7 as the lowest interest rate recorded by Freddie Mac's Primary Mortgage Market…(read more)

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DETROIT/WASHINGTON (Reuters) – Chrysler LLC is expected to file for bankruptcy on Thursday after talks to restructure its debt with lenders broke down, a U.S. government official said.

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addthis_title = ‘Chrysler+to+file+for+bankruptcy’;
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DETROIT/WASHINGTON (Reuters) – Chrysler LLC filed for bankruptcy on Thursday and announced an industry-changing deal with Fiat, after being pummeled by sliding auto sales and unable to reach agreement on restructuring its debt.

NEW YORK (Reuters) – The Dow and S&P 500 fell on Thursday after Chrysler’s bankruptcy filing undercut optimism about upbeat corporate profits and reassuring job market data.

Chrysler filed for Chapter 11 bankruptcy protection after President Barack Obama criticised hedge funds for blocking an out-of-court restructuring of the US carmaker’s $6.9bn debt.

Billionaire investor Warren Buffett will be under pressure from shareholders unhappy with his strategy, succession plans and views on the crisis

Hasbro, the toymaker, is to invest $300m for 50 per cent stake in a cable television and online venture with broadcaster Discovery Communications

Procter & Gamble, the world’s largest advertiser, expects car companies and banks to scale back marketing spending

DETROIT/WASHINGTON (Reuters) – Chrysler LLC — battered for the past two years by disappearing global auto sales and the credit crisis — filed for bankruptcy on Thursday and announced an industry-changing deal with Fiat after talks to restructure its debt broke down.

NEW YORK (Reuters) – Stocks rose on Thursday, but were well off session highs, as investors sought to reconcile upbeat corporate profits and reassuring job market data with anxiety about Chrysler LLC’s bankruptcy filing.

President Barack Obama said that Chrysler would be filing for Chapter 11 bankruptcy protection and confirmed a partnership with Italy’s Fiat aimed at giving a new lease on life to what he called “one of America’s most storied automakers”

DETROIT/WASHINGTON (Reuters) – Chrysler LLC is expected to file for bankruptcy on Thursday after talks to restructure its debt with lenders broke down, a U.S. government official said.