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Ford, Nissan, & Tesla Motors Granted First Loans Under Government Program Aimed at Creating More Fuel-Efficient Vehicles

Ford Motors Inc., the only Detroit automaker who did not receive a federal bailout loan last year, is now amongst the first three companies to get a loan from the government aimed at accelerating the development of more fuel efficient cars. Nissan and Tesla Motors are the other two companies who will be receiving loans for this purpose. Ford will be using their loan to retool some of its Midwest factories.

The $5.9 billion loan Ford was granted was only about half of what they initially requested, and will go to retool 11 Midwest factories. The money will help to make 13 of its models more efficient. Ford is planning to sell four models of electric vehicles by 2012.

Japanese car manufacturer Nissan will also receive $1.6 billion to overhaul its Smyrna, Tenn. factory, where it plans to build electric vehicles. Tesla Motors, a California based company, will receive $465 million to make electric vehicles and drive trains.

Goldman Sachs to Make Record Profits & Bonus Payouts in 2009

While much of the financial industry is lucky to even have a job, the folks over at Goldman Sachs (NYSE: GS) can expect to receive their biggest bonus payouts in the firm's 140-year history after an amazing first half of the year. This news, however, has sparked concerns that the big investment banks that have survived the credit crunch will ultimately derail financial regulation reforms.

Due to a lack of competition combined with a surge in revenues from trading foreign currency, bonds and fixed-income products, profits at Goldman Sachs have soared. Last week, the firm's London staff were briefed on the company's prospects and were told to look forward to bumper bonuses, if it completed its most profitable year ever, as it is predicted they will.

Figures to be released next month which will detail the firm's second quarter earnings are anticipated to show a bigger jump in profits. They've already paid off $10 billion in TARP funds from the government. Financial genius Warren Buffet, who purchased $5 billion of Goldman Sachs' shares in January, has already made an impressive $1 billion gain on his investment.

Nestle Recalls Cookie Dough After 66 Fall Ill from E. Coli

Nestle USA is voluntarily recalling its Toll House refrigerated cookie dough products after numerous illnesses were reported by consumers who ate the dough raw. According to the company, the Food and Drug Administration and the Centers for Disease Control are investigating reported E. coli illnesses that may be related to the consumption of the raw cookie dough.

Nestle warns that consumers should not eat raw cookie dough, and notes taht such a warning appears on its packaging.

The recall includes refrigerated cookie bar dough, cookie dough tub, cookie dough tubes, limited edition cookie dough items, seasonal cookie dough and Ultimates cookie bar dough. The recall does not affect any other Toll House products.

If you have purchased any of the products listed below, you should not consume them. Nestle is instead asking consumers to return them to their local grocer for a full refund. Any questions should be directed to Nestle Consumer Services at 1-800-559-5025.

A full list of the recalled products can be viewed here.

Walmart to Launch New Miley Cyrus & Max Azria Line of Clothes; Will Also Sponsor Upcoming Tour

Walmart announced Wednesday a new clothing line - Miley Cyrus & Max Azria - which will only be available at Walmart stores. The line, which brings together teen sensation Miley Cyrus and famed fashion house BCBGMAXAZRIAGROUP Inc., will arrive in all Walmart stores and on Walmart.com in early August. In addition to the new clothing line, Walmart also announced that they will be the title sponsor of Miley's upcoming concert tour.

The Miley Cyrus & Max Azria line aims to offer customers affordable and trend-right apparel, and includes tops, pants, graphic tees, shoes and accessories. All items in the collection are priced at less than $20.

Many of the pieces in the collection were influenced by Miley. Speaking of her new line, she said:

"I love creating looks that are all about personal expression and individuality. Collaborating with Max Azria has been an amazing experience, and I'm really excited about launching this line with Walmart. There's even more to come!"

Of working with Miley, Max Azria said:

GM to Sell Hummer to China; Has Tentative Deals for Saab & Saturn

Now that bankruptcy proceedings are in action, things are moving along pretty swiftly at General Motors Corp. An individual briefed on the deal now says that GM has a tentative agreement to sell its Hummer brand to Sichuan Tengzhong Heavy Industrial Machinery Co. in China. GM announced earlier on Tuesday that they had in place a memorandum of understanding to sell the brand, but did not disclose the buyer.

A formal announcement is expected to be made this afternoon.

GM also says that they have 16 buyers interested in purchasing their Saturn brand, and three parties interested in purchasing the Swedish Saab brand.

Sichuan Tengzhong primarily deals in plastics, resins, road construction, and other industrial products. The person who was briefed on the deal notes that Hummer would be its first venture into the automotive business.

Cocaine Found in Red Bull Cola; Drink to be Banned in Germany

After traces of cocaine were found in samples of Red Bull Cola, the drink may be banned in Germany. Samples of the drink were examined by German food authorities, and were found to contain 0.4 micrograms of cocaine per litre, which was said to have been caused by the method used to process cocoa leaves.

Six German states have already ordered retailers to stop selling the beverage. More are expected to follow suit this week.

Germany's Federal Institute for Risk Assessment said that the cocaine levels found were too low to pose a health risk. A more detailed report is expected tomorrow.

Red Bull is currently available in 148 countries worldwide. It is banned in Denmark, Norway, Uruguay, and now German due to health fears.

Ohio Attorney General Files Another Objection to Sale of Chrysler

Ohio Attorney General Richard Cordray has filed yet another objection to the impending sale of Chrysler LLC, citing concerns that the deal would sidestep state laws that regulate automobile dealerships. Cordray, along with officials from nine other states, filed a limited objection and statement in support of auto dealers this week in U.S. Bankruptcy Court of New York.

The attorneys general made the argument that the sale shouldn't allow the bankrupt automaker to escape the requirements of state laws, including those which pertain to the termination of dealership agreements.

In a release, Cordray said:

“On less than 30 days’ notice, Chrysler proposes to reject dozens of dealer agreements in Ohio. Some consideration should be given to those dealers, and Chrysler shouldn’t be allowed to disregard its obligations under Ohio law.”

In mid-May, Chrysler announced plans to eliminate 789 dealerships from its networ. This week, Automotive News reported that a Bankruptcy Court hearing has been set for June 3 on the company's move to revoke the franchises.

Blockbuster to Launch Online Video Game Rental Pilot Program in Cleveland

On Wednesday, Blockbuster Inc. announced that in keeping with previously disclosed plans to launch an online video game rental service by summer, that they would launch a pilot program in the Cleveland area beginning June 30. Blockbuster is planning to expand the program nationwide by the end of the year, which would make it the only by-mail service to offer both movie and video game rentals.

GM Likely to File Bankruptcy as Early as Next Week

Things are beginning to move along pretty quickly for General Motors Inc. (NYSE: GM). According to a Friday report in the Washington Post, the Detroit automaker is expected to file bankruptcy as early as late next week, but could snag up to $30 billion in additional federal bailout funds.

The Post's sources on this story are those familiar with the discussions between GM and President Obama's administration, who state that the government will push them into filing either late next week or during the first week in June.

As for the extra $30 billion in federal funds, that would bring the government's total investment in the company up to a staggering $45 billion, and would give them a 50 percent stake in the automaker.

Another struggling Detroit automaker, Chrysler LLC, may emerge from bankruptcy as early as next week. They were the first of Detroit's "Big Three" to file for bankruptcy.

Both GM and Chrysler have accepted billions in federal bailout funds. They've also both announced that they would be cutting loose nearly 1,900 dealerships. The only member of the Big Three not to have accepted federal bailout money is Ford Motor Co. (NYSE: F).

Major Beef Recall Begins After 3 Cleveland Area People Fall Ill

On Thursday the U.S. Department of Agriculture announced that Valley Meats LLC of Coal Valley, Illinois began a recall of nearly 96,000 pounds of ground beef products after three people became sick from E. Coli in the Cleveland, Ohio area. The USDA said that illnesses related to the recalled meat have also been reported in Pennsylvania and Illinois.

Last week the Ohio Department of Health alerted federal officials that three individuals - a 3-year-old girl, a 24-year-old man, and a 71-year-old man - with no connection to each other were ill from E. coli bacteria featuring the same genetic footprint. A spokesman says that two of the three were hospitalized and all are now recovered.

Officials from the Cleveland Health Department are also now investigating the death of a 7-year-old girl - a student at Westpark Community School on Lorain Road - who died as a result of E.coli. They are trying to determine if there is a link between the recalled beef and her death.

Most of the recalled meat is preformed patties under various brand names. For more information on the recalled products, please visit this USDA webpage.

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