Detroit files for bankruptcy
The city of Detroit in the United States has become the largest American city to file for bankruptcy. It has debts of more than £11 billion.
President Obama 'closely monitoring' Detroit
The White House says President Barack Obama is "closely monitoring" the situation in Detroit.
A White House statement tonight said:
"While leaders on the ground and the city's creditors understand that they must find a solution to Detroit's serious financial challenge, we remain committed to continuing our strong partnership with Detroit as it works to recover and maintain its status as one of America's great cities."
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City of Detroit files for bankruptcy
Once a powerhouse of the US car industry, Detroit has filed for bankruptcy as it owes creditors almost $20bn it cannot pay.
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Detroit - broken city
Detroit, once a booming American metropolis, has become the largest US city to file for bankruptcy, with debts of at least $18bn.