For the fourth quarter GME posted an adjusted loss before tax of $215 million (reported loss of $445 million) versus an adjusted loss before tax of $12 million in the year ago period (reported loss of $154 million). The decline in calendar year and fourth quarter earnings were attributable primarily to a markedly softer German market as well as unfavorable foreign exchange rates.

GME sales were up 8.9% in 2007 to a record 2.2 million units, led by Chevrolet, up 34%, Opel/Vauxhall, up 4.3% and Cadillac up 31%. Demand for GM vehicles in the United Kingdom, Ukraine, Italy, Greece and Russia - where sales doubled to 260,000 units was strong.

With a 19% increase in sales to a record 1.2 million units in 2007, GM Latin America, Africa, Middle East (GMLAAM) achieved a record $1.3 billion in adjusted earnings before tax for the year (reported income of $1.3 billion), up 140% over 2006 adjusted earnings of $561 million (reported income of $518 million). GMLAAM also set a sales record in the fourth quarter with 341,000 units, up 18% year over year, generating $424 million in adjusted earnings before tax (reported income of $424 million), up from $76 million in the fourth quarter of 2006 (reported income of $76 million).

GMAP posted adjusted earnings before tax of $744 million in 2007 (reported income of $681 million) compared to $403 million (reported income of $1.2 billion) for 2006. GMAP adjusted earnings before tax for the fourth quarter were $72 million (reported income also $72 million), compared to $105 million in fourth quarter of 2006 (reported income of $29 million).

GMAP had continued strong performance in China, where domestic sales grew 18.5% in 2007 and GM, with its local partners, became the first global automotive manufacturer to sell more than 1 million vehicles. In addition, GM sales in India rose 74%, and export sales of the GM Daewoo products built in Korea increased by 30% to 870,000 vehicles.

On a standalone basis, GMAC Financial Services reported a net loss of $2.3 billion in 2007, compared with net income of $2.1 billion in 2006. Profitable results in the global automotive and insurance businesses were more than offset by the significant loss at Residential Capital, LLC (ResCap).

In the fourth quarter, GMAC reported a net loss of $724 million, compared to net income of $1.0 billion in the fourth quarter of 2006. The effect on ResCap of the continued disruption in the mortgage, housing and capital markets was the primary driver of adverse performance.

GM reported a $1.1 billion net loss attributable to GMAC, as a result of its 49% equity interest and preferred dividends received for the full year 2007, and a $394 million reported net loss for the fourth quarter.

GM estimates that if the U.S. market volume returns to trend levels in 2009 and beyond, which would be an increase of 1 million units, the change would generate additional pre-tax income to GM in the range of approximately $1 billion to $1.5 billion annually. GM also expects to reduce a substantial portion of the cost premiums it has historically paid to Delphi for systems and components over the next three to five years. The savings will be offset by various labor and transitional subsidies of $300-400 million per year under Delphi''s plan of reorganization, however GM expects to achieve annual net savings over the mid-term of approximately $500 million.

11:00AM New York – Credit Suisse Earnings suffer on losses related to subprime loans.

Marsh & McLennan (MMC: chart), insurance company, reported for the fourth quarter ended on December 2007 net revenue increased 8.1% to $2.93 billion from $2.71 billion in the prior-year quarter.Net earnings were $85 million or 16 cents per share compared to net earnings $226 million or 40 cents per share, for last year.

Credit Suisse (CS: chart), Swiss bank and financial services company, reported net revenue for the quarter was 9.4 billion francs ($8.5 billion), declined 13% from the 10.8 billion francs in the same period of 2006.

Net revenue for the year increased 6% to 40.9 billion francs ($37.2 billion) from 38.6 billion francs a previous year. Net income fourth-quarter 2007 was decreased 1.32 billion Swiss francs ($1.2 billion), or 1.21 francs a share.

For the full year, net income was 8.5 billion francs ($7.7 billion), decreased 25 % from 11.3 billion francs in 2006.

Teradata Corporation (TDC) said revenue surged 10% in the fourth quarter of 2007 of $1.702 billion, from $1.547 billion in 2006. Net income in the quarter was $79 million, or $0.43 per diluted share, compared to $62 million, or $0.34 per diluted share, in the fourth quarter of 2006.

Banco Itau Holding Financeira S.A. (ITU), Brazilian private bank reported earnings in the fourth quarter net income increased to $1.13 billion and posted net profit of 2.03 billion, from 1.28 billion in the same period in 2006.



10:00AM New York, 7:30PM Mumbai – December industrial production index declined to 7.6% from 13.4% in the year ago period.

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