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WILMINGTON, Delaware – China’s largest maker of auto parts won a politically sensitive auction for A123 Systems Inc , a bankrupt maker of batteries for electric cars that was funded partly with U.S. government money, the investment banker for A123 said on Saturday. Timothy Pohl of Lazard Freres said Wanxiang Group Corp’s bid of about $ 260 million topped a joint bid from Johnson Controls Inc of Milwaukee and NEC Corp <6701.T> of Japan for the maker of lithium-ion batteries. Siemens AG of Germany had also qualified to bid, according to two people familiar with the auction, who asked not [...]

FRANKFURT Spain saw borrowing costs fall sharply at an auction Thursday just hours before the European Central Bank was expected to provide more details of a new bond-buying program. Spain’s Treasury sold 3.5 billion euros ($ 4.4 billion) of various bonds, news reports said. A sale of 682 million euros of bonds due to mature in 2014 produced an average yield of 2.80%, down from 4.71% at a June sale, reports said, while a 2015 bond saw a yield of 3.68% versus 5.09% in July. The 2016 bond reportedly saw an average yield of 4.60% versus 5.97% in an August [...]

MADRID Borrowing costs fell sharply at an auction of Treasury bills for the Spanish government on Tuesday. The Treasury sold 3.607 billion euros ($ 4.51 billion) in three- and six-month Treasury bills, higher than the €2.5 billion to €3.5 billion target range it had been anticipating. In an auction of three-month bills, the average yield was 0.946, with a bid-to-cover ratio of 3.35. At a prior auction of similar paper, the yield was 2.434% and the bid-to-cover ratio was 2.94. The yiled on the auction of six-month bills was 2.026%, down from 3.691% at a prior auction. It was covered [...]

Interest rates on short-term Treasury bills rose in Monday’s auction, with rates on three-month bills advancing to the highest level since late February. The Treasury Department auctioned $ 32 billion in three-month bills at a discount rate of 0.110 percent, up from 0.100 percent last week. Another $ 28 billion in six-month bills was auctioned at a discount rate of 0.145 percent, up from 0.135 percent last week. The three-month rate was the highest since three-month bills averaged 0.115 on Feb. 27. The six-month rate was the highest since those bills averaged 0.150 on July 2. The discount rates reflect [...]

Eastman Kodak extended its patent auction on Monday, saying it would not announce a winner as planned because it was still in discussions with bidders. Kodak, which filed for bankruptcy in January, said in a statement that the auction is ongoing. It declined to comment further, citing confidentiality agreements. A spokeswoman for the company declined to comment on the length of the extension. The company said it expected later on Monday to submit regulatory filings revealing more information about its business, including financial projections. Kodak, which has lost more than $ 600 million so far this year, began an auction [...]

Interest rates on short-term Treasury bills fell in Monday’s auction with rates on six-month bills declining to the lowest level since early June. The Treasury Department auctioned $ 32 billion in three-month bills at a discount rate of 0.100 percent, down from 0.110 percent last week. Another $ 28 billion in six-month bills was auctioned at a discount rate of 0.135 percent, down from 0.145 percent last week. The three-month rate was the lowest since three-month bills averaged 0.095 on July 23. The six-month rate was the lowest since these bills averaged 0.130 on June 4. The discount rates reflect [...]

Steve Sultanoff has a passion for a bargain, but he doesn’t feed his need for retail triumph by hitting the mall. Instead, like millions around the world, the Irvine, Calif., resident turns to Internet auction giant eBay. Many discover what they’re looking for on the site of the auction giant and field innovator, which was founded in 1995. Sultanoff, who says he’s personally won about 1,200 auctions, has bought everything there from a microwave part to impossible-to-find tickets to baseball legend Cal Ripkin’s final game. “The Ripkin tickets are what hooked me,” says Sultanoff. How eBay and Similar Auction Sites [...]