General Motors, the once-upon-a-time largest US automaker is finally coming to terms with the bankruptcy scenarios that have been around for the past year or so.

HIG Capital is one of the of the leading global private equity companies. The firm’s Head Quarters are based in Miami, USA and they have offices in Boston, New York, Atlanta and San Francisco.

EUR-USD is higher at 1.3030 as the US Dollar lost a little ground against most currencies. Today sees the release of economic data that may give further clues on the need for another rate cut from the ECB.

The recent economic data indicate even the strongest of the world economies undergo the reverse process of de-industrialisation.

The G20 meeting over the weekend could not be much different and it was bound to let people down as there was no speculation of new policy agreements.

Today sees the release of economic sentiment in Germany and the Eurozone along with the release of UK inflation data that should once again indicate a sharp fall due to the weakening economy.

The Republic of Ireland’s announced yet more measures to support its tormented banking industry. The government said it would invest EUR3.5 billion in each of Bank of Ireland and Allied Irish Bank, the country’s two largest banks.

The EURO showed signs of weakening against most major currencies after reaching record highs against more them over the past few months.

Investors are not expecting a quick recovery in credit markets. A rally is certainly not expected until the end of 2009.

Treasury Secretary Paulson said that even if bankruptcy is the outcome then its important that it’s orderly.

Is General Motors and Chrysler in merger talks? This rumour was doing the rounds again yesterday, following a report in the WSJ. GM denied this was the case, with a spokesperson stating ” I can say unequivocally we are not in any merger talks with Chrysler”.