May 07

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General Motors Corp., which faces a June 1 government deadline to finish a restructuring plan or go into bankruptcy protection, said Thursday it lost $6 billion and its revenue was cut nearly in half in the first quarter.

General Motors said Thursday it will idle most of its U.S. plants for up to 10 weeks this summer, trimming some 190,000 vehicles from planned production. The shutdowns will help control high inventories and bring production in line with slower…

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