Bad Paper

DETROIT (Reuters) – General Motors Corp and the U.S. government finalized plans for the battered company to reorganize, setting the stage for America’s largest-ever industrial bankruptcy filing before markets open on Monday.

NEW YORK (Reuters) – Wall Street faces a historic shake-up next week as General Motors, a pillar of American industry, heads into bankruptcy, but the market could advance further if economic data signals the worst of the recession has passed.

WASHINGTON (Reuters) – General Motors Corp and the U.S. government finalized plans on Sunday for the battered automaker to reorganize, as a majority of debtholders helped clear the way to a massive bankruptcy filing expected on Monday.

A majority of General Motors bondholders have agreed to a debt-for-equity exchange, a source familiar with the voting said on Sunday, helping pave the way for a bankruptcy filing expected on Monday.

Tim Geithner, US Treasury secretary, begins two days of top-level economic talks in Beijing amid a tightening
focus on the need for the US and China to co-ordinate their exit strategies from the financial crisis

Microsoft and Sony are launching a video-game offensive against Nintendo this week, as the clear leader in console sales shows its first signs of flagging.

DETROIT (Reuters) – Investors representing about 54 percent of General Motors Corp’s $27.2 billion of bonds indicated support for a U.S. Treasury-brokered swap that could help speed the automaker’s way through bankruptcy.

A majority of General Motors bondholders have agreed to a debt-for-equity exchange, a source familiar with the voting said on Sunday, helping pave the way for a bankruptcy filing expected on Monday.

Tim Geithner, US Treasury secretary, begins two days of top-level economic talks in Beijing amid a tightening
focus on the need for the US and China to co-ordinate their exit strategies from the financial crisis

North Korea has started moving a long-range missile towards a launch pad in possible preparation for another missile test, according to US officials.

Hand-made device made safe after emergency landing of flight which could have been used by former reformist president Mohammad Khatami

WASHINGTON (Reuters) – A majority of General Motors bondholders have agreed to a debt-for-equity exchange, a source familiar with the voting said on Sunday, helping pave the way for a bankruptcy filing expected on Monday.

DETROIT (Reuters) – General Motors Corp on Saturday finished a key piece of business before a bankruptcy filing planned for Monday as the deadline for bondholders to accept an exchange offer brokered by the Obama administration expired.