Cerberus to buy majority shares in DaimlerChrysler
U.S. private equity firm Cerberus Capital Management is to buy a majority stake in DaimlerChrysler's ailing U.S. arm. The German-U.S. firm will pay 5.5 billion euros (US$7.41billion) to buy 80.1 per cent - much less than the US$36 billion paid for Chrysler's 1998...
Bush wants action on plan to cut gasoline use
WASHINGTON (Reuters): U.S. President George W. Bush yesterday directed his cabinet to complete action by the end of 2008 on a plan to cut U.S. gasoline use by 20 per cent by 2017. In his State of the Union speech in January, Bush floated a proposal to raise U.S.
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