Administration: Auto restructuring needed

GM unit Saab files for protection from creditors
Parent company GM is trying to get the Swedish automaker in shape to be spun off or sold, but the ailing brand is still in danger of collapse. General Motors Corp.'s Swedish-based subsidiary Saab went into court protection from creditors Friday so the unit could be spun off or sold by its struggling U.S. parent, officials said.

Administration: Auto restructuring needed
The Obama administration says fundamental restructuring is needed to address the problems facing the auto industry.
SBI to be sole booking agent for Nano
Country's largest lender SBI today said it has been appointed as the sole booking agent for the world's least expensive car, Nano, from the stable of Tatas.