GM default swaps widen as SEC subpoena sparks fears

Newswire

LONDON, Oct 27 (Reuters) - The cost of insuring against a default by General Motors Corp. rose on Thursday in Europe after Asian markets were unsettled by news that the U.S. Securities and Exchange Commission had subpoenaed the company as part of a probe into accounting. The news led to speculation in Asia, which dealers in Europe said they did not believe, that GM could file for Chapter 11 bankruptcy protection. A spokesman for GM Europe in Zurich declined to comment directly on the ...

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