SYDNEY, Oct 9- The Australian unit of German carmaker Volkswagen AG on Friday said it will conduct a voluntary recall of vehicles fitted with devices designed to mask the level of emissions, two days after revealing up to 90,000 cars may be affected. Volkswagen Group Australia said it would write to all affected car owners and would "do everything we can to fix this...» Read More
Stocks shot up Tuesday after the Federal Reserve dramatically cut interest rates.
Stocks rose Tuesday, even after dismal reports on CPI and housing starts, as investors hope for new direction from the Federal Reserve when the central bank delivers its decision on interest rates today.
With the film strip of our lives playing out as we buy, sell, curse, and embrace our cars, it's no wonder we are passionate about what we want to see happen to the Big 3. But here's the problem: few of us seem willing to accept the other side is saying stuff that may have some merits.
U.S. stock index futures indicated a higher open Tuesday as investors hoped for fresh direction from the Federal Reserve along with another cut in interest rates.
The Fed is the big focus Tuesday, but Goldman Sachs earnings will help set the tone ahead of the open.
A Chinese-made electric car, backed by Warren Buffett, has been officially introduced to the retail market in that country. The plug-in was scheduled to be sold in the U.S. and Europe starting in 2010, but Reuters quotes BYD Chairman Wang Chuan Fu as telling reporters those plans have been delayed one year to 2011.
As Detroit waits to see how much financial help it will get from the White House and how that aid will be structured, we keep hearing one thing over and over. The Bush administration wants to avoid a "disorderly bankruptcy" in the auto industry. This is not good news for GM and Chrysler.
Stocks could chug higher this week, delivering that evasive Santa Claus rally, but it will all depend on whether investors are comfortable with the status of the auto-industry bailout. Plus, let's hope the Fed doesn't deliver any holiday surprises.
Even the worst of news couldn't jolt investors Friday. Here's what it means for the market.
Do you think allowing the auto companies to go bankrupt would cripple the US economy?
If even one of the Big Three goes bankrupt, many of the already struggling auto suppliers will fail, said Wilbur Ross, WL Ross & Co. chairman & CEO of the company.
Most on Wall Street expected Dow declines worth a few hundred points, but that didn't happen. So what's going on?
Polls show Americans split on bailing out the U.S. automakers, a highly visible troubled sector in a country grappling with recession. Melvyn W. writes, "They must not be bailed out...
If you have a choice, staying away from bankrupt retailers is a good idea.
"Karnac the Magnificent" I am not. Heck, for weeks I've been predicting Congress would ultimately come up with a bailout for the Big 3. So after the Senate shot down the aid package last night, it's no wonder my wife said to me, "Gee Einstein, guess you were wrong about what would happen on Capitol Hill."
With the failure to pass an auto loan bill, the Treasury Department is now essentially the "last line of defense" for the auto makers. They can now provide a bridge loan through the TARP, or provide or guarantee a debtor-in-possession facility to fund a pre-packaged Chapter 11 proceeding.
The Senate rejected the bill for a $14 billion U.S. auto bailout on Thursday, sending global stocks plummeting.
Chrysler is nearing the minimum level of cash it needs to run the company and will have trouble paying bills after the first of the year, according to its chief financial officer.
Some days, the bad news is just plain bad. Senate's failure to reach an agreement on the auto bailout package looks set to drive markets lower Friday and that could most certainly mean a bankrupt General Motors.
If you're in the market for a used car, read on. Your safety depends on it.