SYDNEY, July 31- Fiat Chrysler Automobiles traded charges in court with its former Australia CEO, who denied breaching his legal duties and said he acted on instructions from above after a lawsuit by the carmaker accused him of excessive spending and illegally enriching himself through commercial deals. Fiat's civil lawsuit in Australian Federal Court...» Read More
As discussions between GM and Chrysler heat up, there's a steady flow of questions about road blocks that could stop this merger of American auto giants. Any other time, I'd agree with some of the points being raised. But given the economy and the weakened state of the auto industry, I think few of these are going to stop GM from acquiring Chrysler- IF the country's largest automaker decides it wants this deal.
After a week of stating in this blog and on the air that I don't see the logic behind a combination of GM and Chrysler, I took the last two days to ask people familiar with the talks and inside the auto industry if I'm missing the boat.
Merger talks between General Motors and privately held Chrysler are moving at a faster pace as potential lenders have thrown their support behind a deal between the two U.S.-based automakers, CNBC has learned.
Tesla Motors, the up-and-coming, high-end electric sports car maker, is suffering through yet another massive reorganization that will cost nearly a hundred workers their jobs, including the company's CEO Ze'ev Drori.
Like a python squeezing the air out of its victim, Toyota is in the midst of a move that will further hurt the Big 3.
Food and farming plays like Monsanto, Potash, Yara and Syngenta are good buys, along with health-care stocks such as Essilor, Stephen Pope, chief global market strategist at Cantor Fitzgerald Europe, told CNBC.
Don’t let a near 1,000-point Dow jump go to your head. We’re not out of this mess yet.
After a few days of tracking the latest talks between GM and Chrysler, I'm more convinced than ever before that these two companies will not merge. It's an idea that ultimately creates more headaches than solutions for GM.
Before General Motors began exploring a possible merger with Chrysler — talks that first came to light on Friday — G.M. proposed a similar deal with its other cross-town rival, the Ford Motor Company, two people with knowledge of the talks said Saturday.
If you think GM is just a short drive from steering into bankruptcy, think again. This morning, while everyone says this company is on the verge of collapsing, a GM spokeswoman emphatically said "NO!"
Ford Motor is not considering bankruptcy protection as an option, CNBC reported Friday, citing company executives. The unidentified Ford executives said bankruptcy is not even under discussion, and that the company has sufficient liquidity.
General Motors' shares hit their lowest level in almost 60 years as the U.S. automaker said its year-to-date sales in Europe slid almost 2 percent.
If you are GM CEO Rick Wagoner, what do you do? The man in the top job at the struggling automaker is pulling every move possible to keep his company from collapsing. And by all accounts, he's done a hell of a job.
Want a sign of just how screwed up this economy has become? Auto repo companies are finding business has slowed down because banks and lenders are reluctant to take back cars and trucks people can no longer pay for.
Enter to win a $250 gas card, find books for a buck and rent a car for cheap. Spot a deal on your own? Tell us!
These are gut check times for Ford & GM investors. Shares of the two automakers slid to lows not seen since the early 80's for Ford and mid 50's for GM. As one Wall Street veteran told me, "These are dire times for Ford & GM."
Governments around the world tried to contain the fast-spreading credit crisis, but stock, bond and commodity markets saw investors bet on a sharp downturn.
As the Wall Street crisis unfolds, insurance policy holders might be asking themselves if the premiums they are paying for their coverage are going to do what are supposed to do: protect them from risk.
Could this finally be the big breakthrough diesel fans have been clamoring for? Could this be the start of Americans getting over their lack of interest for diesel cars? Audi certainly hopes so. Audi is on a cross country publicity push spreading the word about clean diesel.