Toyota is Closing its Plants in China because of the New Virus
Japanese automotive giant Toyota announced Wednesday that its factories in China will remain closed until February 9th due to the spread of the deadly coronavirus.
Car giant General Motors (GM) has filed for bankruptcy protection, marking the biggest failure of an industrial company in US history.
The widely expected move comes after GM had seen its losses widen following a steep fall in sales in recent years, the BBC reported.
The move into bankruptcy protection has been backed by the US government, which is now expected to take a 60% stake in the company.
The White House is also due to announce an extra USD 30 B of aid for GM. President Barack Obama will host a press conference on GM's future later Monday.
GM, which had already received USD 20 B of state aid since the end of last year, said in its bankruptcy filing that its current debts total USD 173 B.
US Chapter 11 bankruptcy protection gives an American company time to restructure its finances while being protected from its creditors.
It is expected that GM may be able to exist bankruptcy protection within 60 to 90 days.
GM, once the largest company in the world, has been losing market share since the early 1980s.
The diplomatic talks between the United States and Russia, which began on 18 February in Riyadh, Saudi Arabia, have seen the two countries proposing a three-stage peace plan
Russian President Vladimir Putin is open to negotiations with Ukrainian President Volodymyr Zelensky, but Kremlin spokesperson Dmitry Peskov has raised concerns about Zelensky's legitimacy
An Argentine judge has been assigned to investigate allegations of fraud against President Javier Milei following his promotion of the $LIBRA cryptocurrency
Elon Musk has revealed plans to include Tesla Bots, powered by the new Grok AI model from xAI, on SpaceX's next Mars mission
The United States attempted to pressure Ukraine into agreeing to a burdensome deal regarding its natural mineral resources
French President Emmanuel Macron emphasized the need for a strong and lasting peace in Ukraine following discussions with US President Donald Trump and Ukrainian President Volodymyr Zelensky
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