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Politics and Policy | government news GM tells Feds to keep it General Motors had asked for and made arrangements to se- cure money to operate in March. Now GM says there is no need for that $2 billion. How can this not be good news? The Wall Street Journal reported in mid-March GM said it had enough cash to keep operating through the end of March and would not need the $2 billion government infusion it had re- quested. How can this not be good news? Maintaining, “it still will need additional government aid,” GM said its cost-cutting moves and spending deferrals in Janu- ary and February successfully held off the need for more U.S. funds in March. A GM representative said March’s cash-ﬂow performance was better than expected. GM has borrowed $13.4 billion from the federal government to keep itself out of bankruptcy since December and has re- quested $30 billion in loans. European Commission drives BASF sale German chemicals giant BASF is selling off several units to win Eu- ropean Union antitrust approval to buy Swiss rival Ciba Holding. The European Commission said BASF agreed last September to buy Ciba for $5.35 billion (6.1 billion Swiss francs) in cash. That transaction augments the German company’s presence worldwide. Ciba’s board and shareholder
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