Germany's DAX Index Falls, Paced by DaimlerChrysler, Fresenius Medical

(Bloomberg) -- German stocks declined for a second
day, led by DaimlerChrysler AG, Fresenius Medical Care AG and
Allianz SE.

The benchmark DAX Index lost 37.04, or 0.5 percent, to
7398.63 as of 9:04 a.m. in Frankfurt. The HDAX Index of the
country's 110 biggest companies fell 0.6 percent.


Read more at Bloomberg Stocks News

Chrysler sale to Cerberus completed

(Reuters) - As a result, DaimlerChrysler and Cerberus decided to help with the financing, a move they confirmed on Friday.




"DaimlerChrysler and Cerberus have agreed to support the financing of the majority takeover of Chrysler by Cerberus in light of highly volatile U.S. loan markets," the German carmaker said.


Read more at Reuters.com Mergers News

US STOCKS-Indexes fall on deal financing worry

(Reuters) - "It's the financials rolling over pretty hard after we had
the move up after the opening," said Bobby Harrington, head of
U.S. cash equities trading at UBS in Stamford, Connecticut.




The drop followed news that DaimlerChrysler had
postponed a $12 billion auto loan deal. For details, see
[ID:nN25373257]


Read more at Reuters.com Bonds News

Germany's DAX Index Climbs; DaimlerChrysler, Allianz Gain After Upgrades

(Bloomberg) -- Germany's benchmark DAX Index climbed
for a third day, led by DaimlerChrysler AG, Allianz SE and
Deutsche Boerse AG after brokerages lifted their recommendations
or price estimates for the shares.

The DAX gained 24.72, or 0.3 percent, to 8102.11 at 9:42
a.m. in Frankfurt. DAX futures expiring in September increased
0.3 percent to 8165. The HDAX Index of the country's 110 biggest
companies added 0.3 percent.


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Germany's DAX Index Rises, Led by DaimlerChrysler, Allianz and RWE

(Bloomberg) -- German stocks advanced, led by
DaimlerChrysler AG, Allianz SE and RWE AG.

The benchmark DAX Index rose 19.18, or 0.2 percent, to
8096.57 as of 9:06 a.m. in Frankfurt. The HDAX Index of the
country's 110 biggest companies climbed 0.2 percent.


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Kuwait's KIA says to keep Daimler stake unchanged

(Reuters) - "We are maintaining the stake. We're quite happy with it.
After the problems in the past things have been turning around,
looks like it is in a good form now," KIA's Executive Director
Saleh al-Sagoubi told reporters.




DaimlerChrysler announced in May it would sell an
80.1-percent stake in Chrysler Group to private equity firm
Cerberus Capital Management [CBS.UL], unwinding the 1998 merger
of Daimler-Benz and Chrysler that never worked out as planned.


Read more at Reuters.com Bonds News

Ingersoll-Rand, Daimler Lead Worldwide Stock Gains by Shrinking

(Bloomberg) -- Some of the best-performing shares
worldwide this year belong to companies that are beating the
stock market by getting smaller.

Temple-Inland Inc., whose products range from paper to
loaning money, Ingersoll-Rand Co., a producer of construction
equipment and trucks, and German carmaker DaimlerChrysler AG are
leading gains worldwide as they spin off or sell units to
concentrate on more profitable businesses.


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Michigan's Budget Crisis Puts Job-Starved State at Economic Crossroads

(Bloomberg) -- Michigan, bleeding jobs even as its
Rust Belt neighbors begin to prosper, has an $803 million hole
in this year's state budget that could force layoffs of
government workers and cutbacks for schools and health care
starting June 1.

That's when the state's cash flow will dry up, as it faces
a fiscal crisis rooted in dependence on General Motors Corp.,
Ford Motor Co. and DaimlerChrysler AG's Chrysler unit. The three
carmakers lost a combined $15.3 billion last year. Michigan and
hurricane-ravaged Louisiana were the only two U.S. states to
shed jobs in 2006.


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China's Chery say deal with Chrysler not halted

(Reuters) - The decision, the paper said, came after DaimlerChrysler agreed last week to sell its money-losing Chrysler Group to private equity firm Cerberus Capital Management LP in a $7.41 billion deal.




But a Chery spokesman told Reuters on Wednesday that the newspaper had misquoted his colleague and that the earlier deal with Chrysler Group was progressing.


Read more at Reuters.com Business News

Cerberus to Raise $57 billion in Debt for Chrysler Purchase, Zetsche Says

(Bloomberg) -- Cerberus Capital Management LP plans
to raise about $57 billion of debt as part of its buyout of
Chrysler, according to DaimlerChrysler AG Chief Executive
Officer Dieter Zetsche.

Chrysler's finance unit will take on about $45 billion in
debt through high-yield bonds or asset-backed securities, and
its manufacturing division will borrow another $12 billion,
Zetsche said in an interview today in Stuttgart, Germany.


Read more at Bloomberg Bonds News