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Chrysler LLC has filed for Chapter 11 bankruptcy, CNNMoney.com reported on Thursday. But a deal has been reached to combine the company with Fiat in order to allow Chrysler to stay in business.

The bankruptcy filing, which was made in federal court in New York, comes after some of Chrysler’s smaller lenders refused a Treasury Department demand to reduce the amount of money the troubled automaker owed them.

In remarks at the White House, President Obama said …  Details

Actor Josh Duhamel has a new role for himself in May: pace car driver for the Indianapolis 500.

Duhamel stars in the upcoming action movie “Transformers: Revenge of the Fallen.” He also had roles in the soap opera “All My Children” and the primetime drama “Las Vegas.” The 36-year-old North Dakota native is married to singer-songwriter and actress Fergie.

Duhamel will drive a …  Details

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