On Monday, automaker General Motors (GM) said that it has filed for bankruptcy under Chapter 11 in the United States Bankruptcy Court in the Southern District of New York. In its filing, the company revealed that it had assets equivalent to $82.29 billion, and total debts, on a consolidated basis, of $172.81 billion, as at March 31, 2009.
In its filing, the company stated that it has determined that filing for bankruptcy presents the only opportunity for preserving and maximizing the value of the enterprise for the benefit of the Corporation's stakeholders and other interested parties.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.