Air France Plane Lost Over Atlantic

An Air France plane which was reportedly carrying 228 people has been lost over the Atlantic. It was travelling from Brazil to France when contact was lost at around 0600 hours this morning.

A search is underway to try and locate the plane by the Brazilian Air Force.

We’ll keep updating this story as news comes in….

Source: BBC

General Motors Set To File For Bankruptcy

The giant of the car world General Motors is set to file for bankruptcy today. If it does it will go down in history as being the biggest failure of an industrial company in America.

The company had until today, 1st June, to supply a plan of action that could see the company bailed out. But as of yet they have still to supply any form of action plan.

The are reports that President Barack Obama is going to give a press conference and announce a massive funding option to GM to try and save them. This is reported to be around $30 Billion.

GM sales have been plumeting due to the overall financial crisis and they have already recieved $20 Billion in funding already.

So we’ll watch today and hopefully a solution can be found.