US says any GM bankruptcy at least 60-90 days
WASHINGTON, May 28 (Reuters) - The Obama administration estimates that any General Motors Corp GM.N bankruptcy would take at least 60 to 90 days and perhaps longer, a senior official said on Thursday.
The official, who spoke on the condition of anonymity because he was not authorized to speak publicly, would not confirm a specific bankruptcy scenario, but the company is widely expected to seek Chapter 11 protection by Monday. (Reporting by John Crawley; Editing by Lisa Von Ahn)
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GLOBAL RECOVERY
Global economy in holding pattern - IMF
The global economy is in a holding pattern and vulnerable to more upheaval, the head of the IMF said, adding a lasting recovery will depend on policymakers taking the proper steps in the coming months. Full Article
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