Daily Archive: February 25, 2010

Chinese Government Blocks Sale of Hummer

Chinese Government Blocks Sale of Hummer

General Motors Co. said it will close Hummer after Chinese regulators blocked Sichuan Tengzhong Heavy Industrial Machinery Co.’s purchase of the brand, whose military-style vehicles clash with government policy. A Tengzhong purchase of Hummer would...

Small Bank Lending Problems

Small Bank Lending Problems

It’s a chicken-and-egg problem that’s plagued the credit markets for a year: Small businesses become riskier lending bets in a downturn, prompting banks to slash their lending. But tight credit cuts off the financing companies...

AIG to Take Substantial Loss

AIG to Take Substantial Loss

After two straight profitable quarters, AIG is expected to report a substantial loss for the fourth quarter when the troubled insurer announces its latest financial results Friday morning. The company has previously said it expected...