SEOUL, South Korea— South Korea said Thursday it fined Volkswagen $12.3 million and ordered recalls of 125,522 diesel vehicles after the government found their emissions tests were rigged. Hong Dong Gon, a director at the Ministry of Environment, said in a live television broadcast that the ministry will continue investigating 30,000 other Volkswagen...» Read More
The F-35 Joint Strike Fighter from Lockheed Martin is the most expensive defense program in history. Costs could reach $1 trillion, between buying the aircraft and supporting it for decades.
The White House was watching Warren Buffett this morning on CNBC. Today Press Secretary Robert Gibbs responded to Buffett's comment that both parties, but especially the Democrats, are trying to use the economic crisis to push partisan goals.
Autonation CEO Mike Jackson said today that despite the government’s push towards fuel-efficient vehicles, the creation of green cars will not spur auto sales.
General Motors expects weak sales in the US for February, which will be an "exceptionally weak" fleet month for automakers, GM's chief operating officer told CNBC.
The Democratic-controlled House approved $410 billion legislation Wednesday that boosted domestic programs, bristled with earmarks and chipped away at policies left behind by the Bush administration. The vote was 245-178, largely along party lines.
Executives of the biggest oil companies are taking their case for expanded offshore drilling to Congress, even as Democratic congressional leaders and the Obama administration promise to put some limits on energy development along the nation's coasts.
Christophe de Margerie doesn't see a bounce back this year, saying 2010 is more likely.
OPEC should look to reduce oil supply further if demand is insufficient to absorb supplies, Iraq's oil minister said on Tuesday.
“The current situation has nothing in common with the Great Depression,” says one economist. “The sooner they [in Washington] stop spinning the bad news story and say nothing, the sooner we’ll be more confident.”
Uncertainty about how far world fuel demand and oil prices will fall has made it harder than ever for OPEC members to agree on how to balance group output policy against the divergent needs of their individual budgets.
As the Obama administration prepares to commit up to $50 billion in help homeowners avoid foreclosure, there are significant concerns about the strategy.
Saudi Oil Minister Ali Al-Naimi, top executives atBP and Royal Dutch Shell, and the head of one of the energy industry's leading watchdog groups are among the more than 2,200 executives, economists, and analysts gathering in Houston, Texas, this week for the 28th annual conference hosted by Cambridge Energy Research Associates.
Oil is relatively cheap, supplies are more than ample (some analysts fear we're awash in crude), so why am I paying more at the gas pump than I was a month ago?
I generally dismiss the relevance of tired adages, but there’s a timely truth to the saying that it’s hard to teach an old dog new tricks. In days like these, however, a little reinvention is key to survival.
For wealthier Americans, the free-fall in stocks is not only ravaging their portfolios—it's taking a huge bite out of the value of their homes.
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I hear it all the time. "Those guys know how to build a car that can get 50 MPG, but they just don't want to."
Global governments, like Japan, Sweden and possibly Russia, are stepping up aid to support ailing financial companies in order to re-instill economic growth.
President Barack Obama's decision Monday to reverse a pair of Bush administration environmental policies could be an sign of other decisions the new White House team could take to combat climate change.
U.S. President Barack Obama told the Environmental Protection Agency Monday to reconsider California's request to regulate greenhouse gas emissions from cars, reversing the climate policies of former President George W. Bush.