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Top News & Analysis Detroit

  • VOLKSWAGEN PLEADS GUILTY TO THREE FELONY COUNTS IN DETROIT AS PART OF $4.3 BILLION PLEA AGREEMENT REACHED IN JANUARY.

  • DETROIT, March 10- Volkswagen AG general counsel Manfred Doess said Friday the German automaker intends to plead guilty to three felony counts as part of a plea agreement reached with the Justice Department in January. Doess said at a hearing in U.S. District Court in Detroit that he was authorized by the board of directors of VW to enter a guilty plea on its behalf.

  • VOLKSWAGEN AG LAWYER SAYS IN COURT AUTOMAKER WILL PLEAD FRIDAY GUILTY TO THREE FELONY COUNTS IN DETROIT OVER DIESEL EMISSIONS SCANDAL AS PART OF PLEA DEAL.

  • WASHINGTON, March 9- Volkswagen AG is set to plead guilty on Friday to three felony counts in the Justice Department's diesel emissions investigation, as the German automaker seeks to move past its cheating scandal. Volkswagen agreed to change the way it operates in the United States and other countries under the settlement of charges that it installed secret...

  • WASHINGTON, March 8- When the bosses of some of the world's largest pharmaceutical companies headed to Washington in January to meet U.S. But the Trump who greeted chief executives of Johnson& Johnson, Novartis, Merck, Eli Lilly, Celgene and Amgen on Jan. 31 was a surprisingly genial host who even gave them a personal tour of the Oval Office, according to several...

  • WASHINGTON, March 8- When the bosses of some of the world's largest pharmaceutical companies headed to Washington in January to meet U.S. But the Trump who greeted chief executives of Johnson& Johnson, Novartis, Merck, Eli Lilly, Celgene and Amgen on Jan. 31 was a surprisingly genial host who even gave them a personal tour of the Oval Office, according to several...

  • The Volkswagen logo is displayed at Serramonte Volkswagen on November 18, 2016 in Colma, California.

    Volkswagen expects to broaden disciplinary action beyond the two dozen employees it has already suspended in a diesel emissions scandal, Chairman Hans Dieter Poetsch said.

  • GENEVA, March 6- Volkswagen AG expects to broaden disciplinary action beyond the two dozen employees the carmaker has already suspended in a diesel emissions cheating scandal, Chairman Hans Dieter Poetsch said on Monday. "It is to be expected that there will yet be a whole string of consequences," Poetsch told reporters late on Monday on the eve of the Geneva auto...

  • March 6- Honda Motor Co Ltd said on Monday it had invested nearly $150 million in two U.S. plants for making 10- speed automatic transmission for front-wheel-drive vehicles. The investment includes $100 million for a new assembly line and production modifications at Honda Precision Parts of Georgia LLC in Tallapoosa, Georgia, the Japanese automaker said....

  • *Deal values Opel at 2.2 bln euros. *First new PSA-based Opel models due around 2020. PARIS/ FRANKFURT, March 6- France's PSA Group plans to buy Opel from General Motors in a deal valuing the business at 2.2 billion euros, creating a new European car company to challenge market leader Volkswagen.

  • WASHINGTON, March 6- General Motors Co said on Monday it will lay off 1,100 workers in May at its Lansing Delta Township assembly plant in Michigan as it shifts production of a vehicle to Tennessee. The Lansing plant will continue building the Buick Enclave and Chevrolet Traverse after it retools for a month, GM spokesman Tom Wickham said in an emailed statement.

  • DETROIT, March 6- France's PSA Group said on Monday it agreed to buy Opel and its British Vauxhall. -GM will receive 1.32 billion euros for the Opel manufacturing business in the form of 650 million euros in cash and 670 million in PSA share warrants. In a client note, Barclays equity research analysts said this was below the 2 billion euros in savings targeted by GM...

  • *Deal values Opel at 2.2 bln euros. *First new PSA-based Opel models due around 2020. PARIS/ FRANKFURT, March 6- France's PSA Group has agreed to buy Opel from General Motors in a deal valuing the business at 2.2 billion euros, creating a new European car giant to challenge market leader Volkswagen.

  • *Deal values Opel at 2.2 bln euros. *First new PSA-based Opel models due around 2020. PARIS/ FRANKFURT, March 6- PSA Group has agreed to buy Opel from General Motors in a deal valuing the business at 2.2 billion euros, the companies said on Monday, creating a new regional car giant to challenge market leader Volkswagen.

  • *Deal values Opel at 2.2 bln euros. *Sale of Opel seals GM's exit from Europe. PARIS/ FRANKFURT, March 6- PSA Group has agreed to buy Opel from General Motors in a deal valuing the business at 2.2 billion euros, creating a new regional car giant to challenge market leader Volkswagen.

  • *PSA, GM poised to announce Opel deal on Monday. *GM agreed to Opel pension injection- source. PARIS/ LONDON, March 4- France's PSA Group is set to announce a deal to buy Opel from General Motors on Monday after striking an agreement with the U.S. carmaker and winning the blessing of its board for the acquisition.

  • *PSA, GM poised to announce Opel deal on Monday. *GM agreed to Opel pension injection- source. PARIS/ LONDON, March 4- France's PSA Group is set to announce a deal to buy Opel from General Motors on Monday after striking an agreement with the U.S. carmaker and winning the blessing of its board for the acquisition.

  • MEXICO CITY, March 3- The new U.S. commerce secretary took a softer tone on trade talks with Mexico on Monday and his Mexican counterpart echoed the view that the two sides could reach a mutually beneficial deal, driving the peso to a nearly four-month high. Speaking on CNBC, Secretary of Commerce Wilbur Ross said a sensible trade deal with Mexico would help the peso,...

  • MEXICO CITY, March 3- The new U.S. commerce secretary took a softer tone on trade talks with Mexico on Monday and his Mexican counterpart echoed the view that the two sides could reach a mutually beneficial deal, driving the peso to a nearly four-month high. Speaking on CNBC, Secretary of Commerce Wilber Ross said a sensible trade deal with Mexico would help the peso,...

  • Speaking on CNBC, Secretary of Commerce Wilber Ross said a sensible trade deal with Mexico would help the peso, which he acknowledged had been hit by fears about what could happen to NAFTA. In the interview, Ross highlighted rules of origin clauses in NAFTA as one of the pact's weak points, an area Mexico has said it is willing to discuss. In Detroit on Friday, Mexican...