General Motors Europe says ?3bn of state aid needed to survive

General Motors Europe has piled more pressure on governments including Britain to provide €3.3bn (?3bn) of state aid by warning that it expects to run out of cash this month. Senior executives said that if the company, comprising Opel and Vauxhall, went under it would put up to 300,000 jobs across Europe at risk. Its US parent, which is slashing 47,000 jobs, including 26,000 overseas, is seeking $30bn (?21bn) of federal aid. Fritz Henderson, GM chief operating officer, said: "We will try to stay...

whole article   guardian.co.uk,     business
  03.03.2009. 16:34h

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