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Chrysler & GM ask for more funding

US car firms General Motors and Chrysler are to call upon the US government for billions more in extra funding as President-elect Barack Obama asks US Congress to release the second half of $700bn (£471bn) bail-out fund.

The two companies are working to achieve further funds in order to carry out comprehensive restructurings of their businesses, reported Daily Telegraph.

The request starts a 15-day consultation period in which Congress can vote to block releasing the money if it sees fit.

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