GM repays 8.1 billion in government loans early
General Motors announced repayment of 8.1 billion in U.S. and Canadian loans five years ahead of schedule as part of its post bankruptcy recovery. Chrysler lost 200 million in Q1 but boosted cash reserves by 1.5 billion, reducing need for more aid. White House aides praised the restructuring for a broader auto industry lifeline.
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McDonalds profits rise on value menu and March sales
McDonalds Corp reports an 11 percent rise in first quarter profit as U S sales strengthen, led by its breakfast value menu and popular coffee and frappes. March same store sales up 4.2 percent, the strongest in a year, signaling potential near term improvement for the restaurant industry.
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Americans shift back to U.S. cars in AP-GfK poll
An Associated Press GfK poll finds 38 percent of Americans favor U.S. vehicles while 33 percent prefer Asian brands. The result follows strong gains for GM Chrysler and Ford, with executives citing improved product lines and government loans repaid.
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Goldman CEO to testify before Senate on SEC fraud claim
Goldman Sachs chief executive Lloyd Blankfein will testify before the Senate Permanent Subcommittee on Investigation on Tuesday about the SEC civil fraud case. Fabrice Tourre, a 31 year old Goldman employee central to the suit, is also expected to be questioned.
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