Ally Financial Inc., the auto lender rescued by the U.S. government during the 2008 financial crisis, is helping the Treasury Department divest its stake by seeking as much as $2.7 billion in an initial public offering.
Overseas creditors such as China and Japan enabled the U.S. to spend its way out of the recession as they gobbled up 80 percent of the nation’s Treasuries. Now, their holdings are dropping toward the lowest level in a decade, while homegrown investors have picked up the slack.
Volkswagen Financial Services AG, which provides financing for cars, is calling on policy makers in Brussels to allow securities supported by the loans to be included in banks’ calculations of liquidity.
The cars at the center of General Motors Co.’s February recall were still on the drawing board when a top engineer gathered more than a dozen managers and delivered a fateful message: Build them for less.