The U.S. will provide financing during the bankruptcy proceeding, which officials envisioned as a swift, “surgical” process.

Chrysler is the first major automaker to file for bankruptcy and attempt to reorganize since Studebaker in 1933. Here is a quick look at how it is likely to play out.

The company said the quarter’s net loss grew to $231 million, or ten cents a share, on revenue of $5.37 billion.

Upbeat corporate profits in the United States added momentum to a wave of buying in European and Asian markets and propelled Wall Street higher.

With a bankruptcy filing by Chrysler appearing all but certain, President Obama will address the fate of the automaker at noon.

The company’s loss tripled to $353 million in the first quarter as the global economic downturn hit demand for both digital and film-based photography products.

The consumer products maker said cost cuts also helped first-quarter profit, which rose 9 percent despite the stronger dollar and a drop in European sales.

Cost cuts, the strong performance of its agricultural business, and lower raw material costs helped lift quarterly results at the company, which had been expected to post a loss.

With a bankruptcy filing by Chrysler appearing all but certain, President Obama will address the fate of the automaker at noon.

Falling ad and entertainment revenue hurt the media conglomerate, which reported quarterly earnings of $177 million.

Mexicans braced for a national shutdown of offices, restaurants and schools as the swine flu appeared in new locations as far apart as Peru and Switzerland on Thursday.

The consumer spending and income growth data indicate that the economy is still struggling to emerge from the recession.

The Flu Trends service watches for searches that include symptoms of the flu, which could help public health officials identify outbreaks.

The largest U.S. cable TV provider earned $772 million in the first quarter as it added customers for its digital cable, phone and high-speed Internet services.