The Australian government confirms media reports it recently gave GM Holden Ltd. a secret A$200 million ($167 million) line of credit. The Daily Telegraph newspaper says the aid was requested by the auto maker, which has seen vehicle deliveries fall 15% this year, and is being used to help boost sales overseas. “It is understood the company went cap-in-hand to Canberra, after the Commonwealth Bank (of Australia Ltd.) pulled the pin on its 50-year relationship with Holden,” the newspaper ...
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