Slowdown saps promise of emerging auto markets Smoke and flashing lights, dancing girls in white go-go boots _ the world's top automakers put on dazzling shows Tuesday as they wooed Chinese buyers with their latest models.
But for all the flash at this year's Guangzhou Auto Show, automakers face a dimmer outlook for global sales, even here in the world's second-largest vehicle market.
Just as General Motors Corp. and other manufacturers are desperately looking to emerging markets to compensate for falling sales in the U.S., Europe and Japan, potential car buyers in China, Russia and other once sizzling markets are pulling back.
BSkyB to raise $600 million in bond issue satellite broadcaster British Sky Broadcasting Group PLC said Tuesday it plans to raise $600 million in a bond issue to refinance existing debt and acquire new businesses.
BSkyB, whose biggest shareholder is Rupert Murdoch's News Corp., said it will pay 9.5 percent interest on the 10-year bond notes to be issued to institutional investors.
It expects the offer to close by Nov. 24.
Last month, BSkyB posted a 21 percent rise in third-quarter operating profit resulting from a sharp increase in new customers.
Auto Bailout Vote Pushed To DecemberDemocratic leaders have decided to put off a bailout vote for the auto industry until December and will insist that the Big Three first come up with a plan showing how the money would help transform their ...
Job losses mount amid recession bluesAll this was accompanied by another sharp sell-off on global equity markets. The International Monetary Fund stepped in to bail out troubled Iceland, leading a $10.2-billion help package, and was set to make as ...
Bailout with a price: Chapter 11 bankruptcy Mention a corporate bailout in the nation's capital these days and chances are someone will offer a harsh condition to go along with it. Chapter 11 bankruptcy.
Lately, the term 'prepackaged bankruptcy' has been gaining currency in the halls of Congress as lawmakers struggle with pleas for help from the auto industry.
The idea, embraced by some Democrats and Republicans, would extend taxpayer help in exchange for a company undergoing an accelerated Chapter 11 reorganization. The arrangement could represent a model, or a deterrent, for any other strapped companies considering seeking government help.
