Fiat Auto SpA receives a vote of confidence from its creditor banks on its restructuring plan, which includes the temporary layoff and early retirement of up to 8,100 employees. The move comes just days after General Motors Corp. took a significant charge against its third quarter earnings to write down the value of its 20% stake in the ailing Italian auto maker. GM reduced the overall value of its stake in Fiat Auto by $2.2 billion to $220 million. The move signals how much ...
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