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Detroit becomes largest city to file for bankruptcy

The city of Detroit on Thursday became the largest city in US history to file for bankruptcy protection, court documents showed. Once the fourth largest US city, Detroit has seen its population shrink by more than half, from 1.8 million in 1950 to 685,000 today, as crime, flight to the…

Auto industry could lead U.S. economic recovery: survey

DETROIT (Reuters) – The auto industry could lead an economic recovery in the United States, according to a recent survey by audit, tax and advisory firm KPMG. Auto executives plan to do more hiring and more capital spending than executives in any other sector in the next year, according to…