US: GM to reduce financial leverage by US$11bn

General Motors has announced a series of actions aimed at further reducing financial leverage. The company expects these actions to reduce net interest cost and preferred dividends by US$0.5bn per year. "These actions will bring down our leverage by US$11bn by reducing debt and improving our pension funding position," said Chris Subscribe to Automotive World … Continued

• By Webmaster
• October 29, 2010