A 2008 Chrysler Sebring, left, sits on the lot of a Benton, Ark., Chrysler-Dodge-Jeep dealership Thursday, April 30, 2009. Chrysler will file for Chapter 11 bankruptcy protection in New York on Thursday and will be eligible for up to $8 billion in federal aid to rebuild the ailing automaker, according to senior administration officials. (AP Photo/Danny Johnston)Chrysler Files For Chapter 11 Bankruptcy -- Yahoo News/AP
WASHINGTON – Chrysler filed for bankruptcy protection Thursday and announced it will temporarily halt most of its vehicle production while it completes a deal with Italian carmaker Fiat designed to revive its tattered fortunes. The Obama administration said it had long hoped to stave off bankruptcy for the nation's third-largest automaker, but it became clear that a holdout group of creditors wouldn't budge on proposals to reduce Chrysler's $6.9 billion in secured debt.
Clearing those debts was a needed step for Chrysler to restructure by a government-imposed Thursday deadline.
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MIDDLE EAST
U.S. plans new talks with Syria.
5 Israeli Arabs charged in terror plot.
Iraqi refugees stay put despite relative calm.
Five car bombings across Baghdad kill 48. More news here.
Turkish warplanes hit suspected PKK in Iraq.
ASIA
Year on from cyclone, Burmese struggle to survive in flimsy shacks.
N. Korea issues threat on uranium.
Security tight as strike-hit Kashmir votes.
Bangladesh: Top militant outfits are regrouping.
Europeans fail to get Sri Lanka truce. An editorial on Sri Lanka’s dirty war.
India's youth use Internet to press for change.
AFRICA
French, Canadian aid workers freed in Darfur. More news here.
Madagascar set for elections by end of year: AU. Madagascar troops lead away ousted president aide.
Hundreds hurt by Tanzania blast.
Countries in East Africa step up flu screening.
EUROPE
Dutch royals escape 'attack' as car slams into festival goers.
NATO expels 2 Russian envoys, raps pact on Georgia.
Georgian national behind Baku academy massacre - embassy.
Russian official complains rebels financed through Georgia, Azerbaijan.
Turkey’s top officer denies plot to topple government.
3 die in Turkey in shootout between police and militants.
AMERICAS
Rights group: Mexico fails to punish army abuse.
Mexico plans partial shutdown to reduce spread of swine flu. More news here and here.
Mexico captures powerful Gulf cartel hitman.
Row in Colombia over soldier’s release.
Colombia clash kills eight troops.
TERRORISM/THE LONG WAR
Negotiations for Al Qaeda suspect to plead guilty underway.
About 30 at Guantanamo may soon be freed, Holder says.
Germany considers taking Guantanamo detainees.
Gates hints that detainees may be held on U.S. soil.
FBI to avoid partnerships with CAIR.
7/7 bombers' friends jailed over terror training camp plans.
ECONOMIC/FINANCIAL CRISIS
Chrysler will file for Chapter 11 bankruptcy.
Job cuts avert catastrophic quarter as profits excel.
Japan in surprise economy boost.