GMAC to sell $2.7 bln ABS on Wednesday - source
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General Motors Acceptance Corp. plans to sell $2.7 billion of securities backed by auto loans on Wednesday, a person familiar with the deal said on Tuesday.
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Nucleus Software Exports Ltd today announced the purchase by the company and its nominees of 10,040,000 equity shares of Chennai-based GMAC Financial Services India Ltd, the Indian automotive finance operation of General Motors Acceptance Corporation.
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IBM is looking to sell its  personal computer business in a deal that could be worth up to  $2 billion, The New York Times reported on Friday, capping a  gradual withdrawal from the business it pioneered.
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Alcoa Inc said on Friday it  agreed to sell its packaging and consumer businesses to New  Zealand's Rank Group Limited for $2.7 billion in cash, the  latest move by the world's third-largest aluminum producer to  focus on its core business.
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GMAC, the former finance arm of General Motors Corp. , said on Tuesday it would receive another $1 billion from GM and warned it would be hit by pressure from a weakening market for U.S. mortgages.
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Concrete maker RMC is set to be bought by Mexican rival Cemex in a deal valuing it at around Â£2.3 billion, it was announced today.
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General Motors Corp.  said on  Tuesday it was restating its net loss for the just-reported  second quarter, increasing the loss by $200 million to reflect  a tax provision related to the sale of its finance arm, GMAC.
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New York-based credit card and travel services company American Express  is expected to sell its private banking business within weeks, said a source familiar with the matter.
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Blackstone Group plans to sell some  New York office buildings it is acquiring from Equity Office  Properties Trust  to Macklowe Properties for about $7  billion, a source close to the deal said on Wednesday.
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U.S. financial services firm GMAC is preparing to spearhead a bid for British mortgage lender Northern Rock , according to Britain's Sunday Times newspaper.
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The Bank of China said Thursday that it held almost $9.7 billion of securities backed by American subprime loans, the most of any Asian company.
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IBM IBM.N is looking to sell its personal computer business in a deal that could be worth up to $2 billion, The New York Times reported on Friday, capping a gradual withdrawal from the business it pioneered.
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INDIANAPOLIS -- Simon Property Group Inc. and Farallon Capital Management LLC said Monday they are offering $24 per share in cash, or more than $1.5 billion, for mega-mall developer Mills Corp, topping a previous $1.35 billion deal from Canadian investor Brookfield Asset Management.
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General Motors Corp., the world's largest automaker, will sign an agreement this week to sell its money-losing locomotive unit to two private U.S. equity groups, sources familiar with the negotiations said on Tuesday.
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General Motors Acceptance Corp., the finance arm of General Motors Corp. (GM.N: Quote, Profile, Research) , may periodically sell up to $3 billion in adjustable-rate demand notes, according to a regulatory filing on Friday.
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(InfoWorld) - The specter of moderate global IT growth continues to hang over vendors' financial news, which this week includes IBM's stock buyback, distributorÂ CDW's plan to go private, andÂ layoff news from Motorola. These moves are examples of how tech companies are dealing with global IT growth that most analysts say will be moderate -- somewhere in the 6 percent to 7 percent range. That's not a bad growth rate for a mature industry but nowhere near the double-digit growth rates that IT saw in the late 1990s. In this climate, organic sales alone are often not enough to achieve the kind of growth that inspires investors and instills confidence in volume buyers. The types of moves announced this week often provide temporary excitement but leave questions about long-term consequences. IBM announced Tuesday it completed part of its previously announced stock buyback program, purchasing 118.8 million shares for $105.18 per share. That equals about $12.5 billion. IBM shares closed the day of the announcement at $105.91, up by $0.73. One reason investors like this sort of news is that with fewer outstanding shares on the market, companies find it easier to report robust per share growth. The long-term question, though, is whether companies would be better off spending money on product development, equipment, acquisitions, or other investments. IBM is considered an R&D leader, so in this case, the stock purchase was not criticized. Another way of dealing with the pressure of having to show steady growth quarter after quarter is to simply get out of the public stock market altogether. CDW's announcement this week that it entered into a pact to be acquired by private-equity investment firm Madison Dearborn PartnersÂ for $7.3 billion is one such move. With the announcement, on Tuesday, CDW followed in the footsteps of similar moves to go private by companies, such as electronic payments companyÂ First DataÂ and customer information management software developerÂ Acxiom. The advantage of going private is that it's easier to focus on long-term strategy when company managers have to deal with a small cadre of investors. But new owners sometimes strip company assets and sell them off or enact drastic cost cutting measures. To assuage customers (and employees) John Edwardson, CDW chairman and CEO, said in a conference call Wednesday that he didn't expect layoffs and that CDW management would stick around. CDW shares jumped to $83.11 on the day of the announcement, up from $75.56 the day earlier. Cost cuts are another way of dealing with a tight market and falling profits. On Wednesday, Motorola said it will lay off 4,000 workers, expanding previous plans for layoffs. The company, which lost money last quarter, said the latest move would save $600 million annually. While investors often applaud cost control measures, staff reductions ultimately do nothing for the central issue facing tech companies: product development and marketing. Addressing this issue Wednesday in an investors meeting, CEO Ed Zander said the company willÂ increase profits by developing an array of multimedia mobile devices rather than rely on single blockbuster products like its Razr phones. Investors took a "show-me" stance. Company shares lost ground on the day of the announcements. Dell fared better after it announced, late Thursday, thatÂ it will cut its 78,800-strong workforce by 10 percent. Within 30 minutes of the announcement, made as part of its quarterly report, Dell shares jumped in after-hours trading by $1.63. Dell profits have slipped over the past year, and it is still embroiled in an accounting inquiry, but investors have applauded cost-cutting moves by Dell over the last few months, especially because they have been accompanied by complementary plans to break with tradition and start selling through retail.ADVERTISEMENTIBM Information On Demand 2006Industrial Industry Leaders, please join us at IBM's premier information management global event, IBM Information On Demand 2006, October 15-20, Anaheim, CA. More IBM business and technical solutions content in one place than ever before! Select from  over 800 sessions. Register today!
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General Motors Corp. said on Thursday it will sell its Allison Transmission unit for $5.6 billion to private equity firms Carlyle Group and Onex Corp. , sending the automaker's shares to their highest level in 2-1/2 years.