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Hummer to be sold to Chinese firm

GM bought the Hummer brand in 1999

General Motors is to sell its Hummer brand to China's Sichuan Tengzhong Heavy Industrial Machinery for an undisclosed amount.

It is part of GM's plan to reinvent itself by concentrating on fewer brands following Monday's bankruptcy filing.

GM says it hopes the deal will save about 3,000 jobs in the US. Hummer will remain based in the US.

Tengzhong specialises in making equipment for the road, construction and energy industries.

It is based in China's Sichuan province.

Hummers were originally built as military off-road vehicles by a company called AM General.

GM bought the Hummer brand in 1999. Its sales have suffered as the gas-guzzling performance and military image have become less popular.

When it began the sale process a year ago, GM had hoped to make more than $500m (£302m), but analysts say that it is likely to have made about $100m from the sale.

Source : BBC

GM bankruptcy plan gains approval

GM is to be relaunched in July

A US judge has approved a bankruptcy plan for car giant GM, which allows the firm to transfer its profitable assets to a new government-backed firm.

Judge Robert Gerbert gave the plan the go-ahead late on Sunday, saying the sale would prevent "the death of the patient on the operating table".

GM filed for bankruptcy protection on 1 June, saying it would be forced to liquidate if the plan was not approved.

The new streamlined General Motors will be 60% owned by the US government.

The bankruptcy plan had been opposed by several groups - including some of GM's bondholders, unions and consumer groups - who had argued that their needs were being ignored in favour of the interests of the carmaker and the government.

But Judge Gerbert argued that the 850 objections were not valid.

In a 96-page opinion, he said: "If GM liquidates, there will not only be nothing for stockholders - there will be nothing for unsecured creditors."

This would be a "disastrous result", he added.

Source : BBC

The Office Star Jenna Fischer Is Engaged!

Jenna Fischer and Lee Kirk Photo by: Jeffrey Mayer / WireImage

While Pam Beesly may be headed down the aisle with Jim Halpert on NBC's The Office, her real-life alter ego is altar-bound, too – Jenna Fischer is engaged, PEOPLE confirms.

The actress, 35, got engaged to writer Lee Kirk, 37, on June 30 while both were vacationing in Europe.

Although they've been dating since January of last year, they stepped out publicly for the first time at the Emmy Awards in September 2008, when Fischer described Kirk to PEOPLE as "my super-cute boyfriend."

This is the first marriage for Kirk. Fischer was previously married to director James Gunn [they divorced in July 2007].

Source : http://www.people.com/people/article/0,,20289690,00.html?xid=rss-topheadlines

Ronaldo welcomed by 80,000 fans

Cristiano Ronaldo was presented to a near-capacity crowd at the Bernabeu after completing the formalities of his £80m world-record move to Real Madrid.

The former Manchester United winger, 24, passed a medical on Monday before greeting almost 80,000 Real fans.

In his first public address to his new supporters the Portuguese international said that his transfer had "made my childhood dream a reality".

"I never imagined that fans would have such a feeling for me," he said.

Source : BBC

First Photos of Jackson Memorial Service

Tickets to Michael Jackson's memorial service have proved monumentally hard to come by, but if you weren't able to snag one, you can at least see the Staples Center getting ready for the big day. RadarOnline has published the first behind-the-scenes photos of preparations for Tuesday's event. Check some out below:

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First Look: Inside the Michael Jackson Memorial