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Auto Components Auto Parts and Equipment

  • Takata's 'sorely needed' start over

    James Chao, MD of IHS Automotive, says Takata's guilty plea is a good start but new lawsuits could potentially unfold.

  • Japanese auto supplier Takata Corp. pleaded guilty to fraud Monday in U.S. federal court. The company agreed to pay $1 billion in fines and restitution for concealing a deadly defect in millions of air bags, which led to the largest product recall in U.S. history. 2000: Takata executives Shinichi Tanaka, Hideo Nakajima and Tsuneo Chikaraishi realize that the air...

  • DETROIT— Japanese auto parts maker Takata Corp. pleaded guilty to fraud Monday and agreed to pay $1 billion in penalties for concealing an air bag defect blamed for at least 16 deaths, most of them in the U.S. Chief financial officer Yoichiro Nomura spoke on behalf of the Tokyo- based company, saying the conduct was "completely unacceptable." Penalties in the...

  • A file photo of a deployed airbag.

    Takata may reverse policy and move to setup a compensation fund to pay damages in cases of injury or death because of faulty airbags made by the firm, the WSJ stated.

  • *Adj profit of $1.31 misses est of $1.36. Feb 24- Auto parts maker Magna International Inc's profit missed estimates for the first time in five quarters, and the Canadian company warned that a proposed border tax by the United States could hurt the automobile industry. The company's shares were down 5.7 percent at C $55.47 on the Toronto Stock Exchange on Friday,...

  • Aurora, Ontario- based Magna said the cost of goods sold jumped 7.7 percent to $7.90 billion in the fourth quarter ended Dec. 31. The company said it expects total 2017 sales to be between $36.0 billion- $37.7 billion, compared with sales of $36.45 billion in 2016.. Net income attributable to Magna rose to $478 million, or $1.24 per share, in the fourth quarter, from $476...

  • Feb 24- Canadian auto parts maker Magna International Inc posted an 8 percent rise in fourth-quarter sales due to higher demand. The company's total sales rose to $9.25 billion in the three months ended Dec. 31 from $8.57 billion a year earlier. Net income attributable to Magna was little changed at $478 million, or $1.24 per share, compared with $476 million, or...

  • VAN BUREN TOWNSHIP, Mich. _ Visteon Corp. on Thursday reported fourth-quarter profit of $2 million. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.36 per share. Six analysts surveyed by Zacks expected $794.7 million.

  • DETROIT— Unable to string together profitable quarters, electric car and solar cell maker Tesla Inc. reported a loss for the last three months of 2016.. Instead, the company lost $121.3 million, or 78 cents per share, for the quarter. Revenue rose 88 percent to $2.28 billion, beating estimates of $2.22 billion.

  • ROANOKE, Va. _ Advance Auto Parts Inc. on Tuesday reported fourth-quarter profit of $62.4 million. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share. Advance Auto Parts shares have dropped 4.5 percent since the beginning of the year.

  • BERLIN/ RUESSELSHEIM, Germany, Feb 17- Germany will do all it can to secure Opel plants and jobs in the country if Peugeot maker PSA buys the General Motors business, Chancellor Angela Merkel said on Friday, highlighting the political challenges the carmakers face in sealing a deal. GM and PSA said this week they were in talks over a potential deal for the French...

  • NOVI, Mich. _ Cooper-Standard Holdings Inc. on Thursday reported fourth-quarter net income of $31.1 million. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.32 per share. Cooper-Standard expects full-year revenue in the range of $3.48 billion to $3.53 billion.

  • General Motors may be ready to off load Opel to French automaker PSA Group for about $1 billion, according to analysts at Evercore ISI.

  • LONDON, Feb 13- European shares gained on Monday as mining stocks touched a 2 1/ 2- year high on rising copper prices and mergers and acquisitions continued to drive shares, with takeover offers sending German drugmaker Stada to a record high. It led sectoral gainers in Europe as copper prices hit their highest in 20 months in heavy trade, driven up by supply worries...

  • Japan's tough stance on immigration, legal and illegal, has left many Japanese industries suffering from severe labor shortages.

  • WASHINGTON, Feb 7- Japan's Takata Corp is set to plead guilty Feb. 27 in federal court in Detroit to a single felony count of wire fraud to resolve a U.S. Justice Department investigation into ruptures of its air bag inflators linked to at least 16 deaths worldwide, according to a court filing Tuesday. Takata has agreed to pay a $25 million fine, $125 million in a victim...

  • BRASILIA, Feb 7- The leaders of Brazil and Argentina said on Tuesday they would pursue closer ties with Mexico and other Latin American nations alarmed by U.S. In a state visit to Brasilia, Argentina President Mauricio Macri said that South American regional trade bloc Mercosur would focus on strengthening its relationship with Mexico, Latin America's...

  • BRASILIA, Feb 7- The leaders of Brazil and Argentina vowed on Tuesday to pursue closer trade ties with Mexico and other Latin American nations threatened by U.S. Trump has abandoned the Trans-Pacific Partnership deal that aimed to bolster trade between 12 Pacific Rim nations, including Mexico, Chile and Peru, and threatened to tear up the North American Free...

  • TOKYO, Feb 7- Honda Motor Co Ltd and Hitachi Ltd's auto parts subsidiary plan to form a joint venture to develop, produce and sell motors for electric vehicles, joining forces to better compete in the highly specialized "green" car segment. The venture will be established in July with an investment of 5 billion yen, and will be 51 percent owned by Hitachi Automotive...

  • *Shares lose a fifth of value, down by daily limit of 100 yen. TOKYO, Feb 6- Shares in Japan's Takata Corp lost a fifth of their value on Monday after sources said Key Safety Systems had been selected to lead its turnaround, fanning concern that a court-led restructuring was on the cards. The Nikkei business daily, which first reported the news of KSS's selection, said...