Deutsche Bank says to solve problems without help from Berlin
FRANKFURT, Sept 26 Deutsche Bank will solve its problems without relying on help from Berlin, Germany's flagship lender said on Monday.
NEW YORK, June 1 General Motors Corp (GM.N) filed America's largest-ever industrial bankruptcy on Monday.
Heralding a new and uncertain era for the No. 1 U.S. automaker, GM filed for Chapter 11 bankruptcy protection at the U.S. Bankruptcy Court in the Southern District of New York. [ID:nN31395352]
Government support for GM is expected to total up to $60 billion. Nearly half of that money has already been extended this year in emergency aid.
The following are key bankruptcy data about General Motors and about other large U.S. bankruptcies:
-- GENERAL MOTORS CORP
* The largest automotive industry bankruptcy ever.
* The eighth public company bankruptcy of 2009 with pre-petition assets of $10 billion or more.
* The 30th public company bankruptcy of 2009 with pre-petition assets of $1 billion or more.
* The 45th historic public company bankruptcy with pre-petition assets of $10 billion or more.
* The 99th public company bankruptcy of 2009.
* $343,954,505,904 is the total figure for 2009's combined pre-petition public company bankruptcy assets.
The following is a list of the largest U.S. bankruptcies since 1980, according to court records and the website BankruptcyData.com: COMPANY/YEAR TOTAL ASSETS Lehman Brothers Holdings Inc (2008) $691,063,000,000 WorldCom Inc (2002) 103,914,000,000 General Motors Corp (2009) 82,000,000,000 * Enron Corp (2001) 65,503,000,000 Conseco Inc (2002) 61,392,000,000 Chrysler LLC (2009) 39,300,000,000 Thornburg Mortgage Inc (2009) 36,521,000,000 Pacific Gas and Electric Co (2001) 36,152,000,000 Texaco Inc (1987) 34,940,000,000 Financial Corp of America (1988) 33,864,000,000 Refco Inc (2005) 33,333,172,000 Washington Mutual Inc (2008) 32,900,000,000 ** Global Crossing Ltd (2002) 30,185,000,000 General Growth Properties Inc (2009) 29,557,000,000 Lyondell Chemical Co (2009) 27,392,000,000 UAL Corp (2002) 25,197,000,000 Delta Air Lines Inc (2005) 21,801,000,000 Adelphia Communications Corp (2002) 21,499,000,000 MCorp (1989) 20,228,000,000 Mirant Corp (2003) 19,415,000,000 Delphi Corp (2005) 16,593,000,000 * - estimated **- from court documents (Reporting by Christopher Kaufman, Patrick Fitzgibbons and Jonathan Stempel)
LONDON, Sept 26 Turkish stocks, bonds and the lira sold off on Monday after a credit rating downgrade to junk while rising unease over U.S. politics and a meeting of oil exporters spurred broader emerging markets weakness.
FRANKFURT, Sept 26 ** German chemical maker Lanxess said on Monday it was confident that no rival bidder would trump its $2.7 billion takeover offer for U.S. peer Chemtura. ** "Chemtura's business is currently benefiting from clear advantages from raw materials, that's why we regard the price that we will pay as a really fair value," Chief Executive Matthias Zachert told journalists during a conference call. ** "We don't believe that there are other (bidders) that have such clear syn