Judge Arthur Gonzales, who is overseeing the bankruptcy of Chrysler, is allowing the sale of the ailing US automaker to Italian rival Fiat, after rejecting arguments from a group of Chrysler lenders who wanted the deal blocked.   Chrysler has asked for permission for a quick sale of most of its assets to a new company held by Italy's Fiat, a United Auto Workers union healthcare trust and the US and Canadian governments.

A group of 20 lenders, including hedge funds, are unhappy with the reconstruction of Chrysler - in Chapter 11 bankruptcy protection ÔÇô and has asked a New York court to halt the process, saying the plan would go against normal bankruptcy principles.

Automakers on both sides of the Atlantic are drawing a lot of attention to themselves with Fiat at the forefront, as the Italian carmaker has confirmed it also wants to take over General MotorsÔÇÖ European business, which includes Opel and Vauxhall, after making an agreement last week to take a 35 percent stake in US group Chrysler. ┬á If the GM Europe deal is completed, Fiat estimates it would make it the world's second-largest carmaker, after Toyota, up from its current 10th position.

Hundreds of vendors and thousands of attendees will make the TechConnect World Expo in Houston, Texas the largest in the US, as dozens of new clean technology and Nanotech products are unveiled.┬á  The Nano Science and Technology Institute (NSTI) will sponsor Nanotech '09, now in its 12th year.

Italian carmaker Fiat has begun efforts to win support for its plan to take over Vauxhall and Opel, part of General Motors' European business, which is under pressure to sell as GM faces potential bankruptcy in the US and has until 1 June to restructure. ┬á Fiat is already trying to take over some of Chrysler, the US carmaker that has applied for bankruptcy protection, and there are some who are unhappy about FiatÔÇÖs latest endeavors to take GM.

Pepsi Bottling Group has rejected an offer from the worldÔÇÖs second biggest manufacturer of soft drinks, PepsiCo, to buy stakes in its two biggest bottlers for $6 billion.┬á ┬áPepsi Bottling Group has criticized the $29.50 per share offer, which values the company at $6.49 billion, as "grossly inadequate". ┬á PepsiCo spun off Pepsi Bottling in 1999 and currently owns 33 percent of it. ┬á The other bottler PepsiCo is trying to buy is Pepsi Americas, of which it owns 43 percent.

The luxury hotel Ritz Carlton Abu Dhabi, in the UAE capital, expects to delay its opening by one year, the hotel operatorÔÇÖs president and CEO said on Monday.┬áIt was scheduled to open in 2011 but in an interview with Arabian Business, Simon Cooper said that it would ÔÇ£probablyÔÇØ open a year later.ÔÇ£ItÔÇÖs relatively on schedule. I would probably err to 2012 if you asked me,ÔÇØ he said, without elaborating on the reasons for the delay.

The luxury hotel Ritz Carlton Abu Dhabi, in the UAE capital, expects to delay its opening by one year, the hotel operatorÔÇÖs president and CEO said on Monday.┬áIt was scheduled to open in 2011 but in an interview with Arabian Business, Simon Cooper said that it would ÔÇ£probablyÔÇØ open a year later.ÔÇ£ItÔÇÖs relatively on schedule. I would probably err to 2012 if you asked me,ÔÇØ he said, without elaborating on the reasons for the delay.

US carmaker Chrysler has filed for Chapter 11 bankruptcy protection, and has formed an alliance with Fiat, making the partnership the worldÔÇÖs sixth largest carmaker. ┬á The filing for Chapter 11 protects Chrysler from its creditors, allowing it to rearrange its finances while still trading, and will lead to the forming of a new corporate entity. ┬á Italian carmaker Fiat will take a 20 percent stake, with the possibility of it rising to 35 percent if performance targets are met, and 51 percent by 2016 if Chrysler's government loans are fully repaid.

US carmaker Chrysler has filed for Chapter 11 bankruptcy protection, and has formed an alliance with Fiat, making the partnership the worldÔÇÖs sixth largest carmaker. ┬á The filing for Chapter 11 protects Chrysler from its creditors, allowing it to rearrange its finances while still trading, and will lead to the forming of a new corporate entity. ┬á Italian carmaker Fiat will take a 20 percent stake, with the possibility of it rising to 35 percent if performance targets are met, and 51 percent by 2016 if Chrysler's government loans are fully repaid.