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Chrysler will likely file for Chapter 11 bankruptcy today as its deadline for restructuring looms. The news dominates headlines in today's business press and takes shape as the answer to the long-speculated question: What the hell will happen to Chrysler? Despite efforts on the part of the Obama administration to sweeten its cash offering by $250 million to secured debt holders, who own an aggregate $6.9 billion of debt, no compromise could be made as of late Wednesday night. Officials are offering $2.25 billion cash in exchange for the debt.

The Wall Street Journal leads its front page, and the New York Times and the Washington Post lead their business sections, with General Motors' (GM) restructuring plan, which would see the U.S. government taking a majority stake in the troubled auto manufacturer.

Speculation surrounding the recently completed bank stress tests remains a top story today, even though nothing new has been announced since Friday. The Wall Street Journal narrows down the idententities of a few of the less obvious institutions that underwent stress tests, reporting that at least three were likely "regional banks with substantial exposures to commercial real estate in the Midwest and Southeast." Groundbreaking.

Chrysler is driving ever closer to bankruptcy, the Wall Street Journal, Business Week, and the New York Times report this morning, leading off their business coverage. The carmaker could file for Chapter 11 as early as next week, regardless of whether or not it cinches a deal with Fiat and/or its demanding bondholders, the WSJ says, citing sources.

Want to pay back Uncle Sam ahead of schedule? Not so fast. That's the message Treasury Secretary Timothy Geithner sent yesterday to bank brass anxious to pay off the billions they owe the government.

Late Sunday soft drinks behemoth PepsiCo (PEP) made a surprise $6 billion bid for two of its biggest bottlers, the Wall Street Journal reports in an exclusive.

Surprising, well, just about everybody, Citigroup (C) is claiming a net quarterly profit of $1.6 billion, marking the bank's first gain in six quarters. However, nary a report of the announcement lauds the news. The New York Times says that behind the seemingly impressive number is "some fuzzy math" and "creative accounting." One such "maneuver," referred to as a "credit value adjustment" and outlined by the paper, boosted the firm's bottom line by $2.7 billion.

The business news takes a global bent today with stories about China and Swiss firms filling top spots. The New York Times reports that China is aggressively growing its influence in Latin America with a focus on securing natural resources, such as oil, soybeans, and iron ore.

Escape the grip of the government, extricate itself from heightened government control, get out from under the government's thumb—these are some of the terms used by the New York Times and the Wall Street Journal to describe Goldman Sachs' motives in repaying a $10 billion government loan extended six months ago.

The easy money in China will continue to flow. The Chinese central bank issued a policy statement on Saturday reiterated a “relatively loose” monetary policy, which had led to new loans increasing six times in March, according to Bloomberg.

Markets soared Thursday following a spate of good news from an unlikely sector, the banks. Wells Fargo is predicting a record first quarter profit, the Wall Street Journal reports, sending its shares a staggering 27 percent higher and lifting with it the entire financial services sector. More positive news could come later this month when the Obama administration releases details on the banks' stress tests.

The Treasury Department will open up its checkbook for another teetering segment of the financial-services sector, the insurance industry, the Wall Street Journal reports this morning in an exclusive. The announcement to provide bailout funds for insurers under the TARP program could come any day now, a bit of welcome relief for the battered sector. Just how bad have things been for the insurers?