Chrysler moves back into profit

Chrysler yesterday reported its first quarterly profit since the US car-maker emerged from a bankruptcy rescue nearly two years ago and came under the management control of Fiat.

The firm also gave further details on its refinancing of $7.5 billion (4.5bn) of loans owed to the US and Canada stemming from its bailout. First-quarter profit came to $116 million, compared with losses of $197m a year earlier.