The last remaining lab of "mad scientist" Nikola Tesla will open it doors to the public this summer after a fundraising campaign saved the site.» Read More
A consortium of European banks seeking to buy ABN Amro said on Tuesday it had increased its stake in the Dutch bank to 3.25%.
There's a new video on the web that's sure to entertain skeptics of the Chinese auto industry. It's video of a car from China's Chery Automobile faring poorly in a crash test in Russia. For those who fear the Chinese auto industry hurting the Big 3, this video will give them the ammunition they need to take shots at the Chinese.
Amid the headlines this weekend about Cerberus closing the Chrysler deal and shaking up management at the automaker, one piece of news came out that blew me away. In the second quarter, Toyota posted a record profit of $4.13 billion dollars. Sounds staggering by itself until you look at it this way: every day last quarter Toyota made more than 44 million dollars. Almost 2 million dollars a day!
On a regular basis, I hear from bloggers who think I'm pushing Toyota and would like nothing more than to see the Big 3 implode. In fact, I got an e-mail to that effect yesterday after blogging about the possibility of Chevy and Ford being outsold by the Toyota brand. For the record, Toyota has passed Ford, but still trails Chevy by a slight margin.
When I sat down to talk with GM CEO Rick Wagoner this morning on "Squawk Box," I was expecting to see a man, beaming over the better than expected second quarter earnings. Instead, I saw the Chairman of a company who looked cautious. Why? Well, maybe it's because General Motors' glass is half full, and filling it up even more will be a challenge. Certainly the second half of this year will be tougher than the first half.
U.S. Treasury Secretary Henry Paulson also reiterated previous statements that he sees "subprime risk as largely contained" and that he is "very much for a strong dollar," noting that strong growth outside of the U.S. has driven the dollar lower.
While corporate credit markets are all in a frenzy, some of the more sober traders out there point out the underlying fundamentals are still in good shape.
If you are a Mercedes Benz fan, you may have already tuned in to the latest attempt by the automaker to reach out to buyers. It's called Mercedes-Benz.tv. It's actually on the Mercedes Benz Web site www.mercedes-benz.tv and it is perhaps one of the best sites run by an automaker, when it comes to advancing the placement of a brand.
Linda Shesto, managing director at Divine Capital, told CNBC’s “Squawk Box” that she looks for a market correction of 3% to 5%.
Euro zone trade remained in surplus in May and the April surplus was revised up, data showed on Wednesday, as exports continued to grow twice as fast as imports despite a strong euro.
European new car registrations rose 0.7% in June as demand in the countries that recently joined the European Union offset a decline in western Europe.
Newsflash for all you buyers in the $100m+ range: Leonard M. Ross, an attorney-investor in Beverly Hills just put his pad up for sale, retail price, $165m. It’s William Randolph Hearst’s old place; you know, the pink stucco one shaped like an H. They used to call it “Beverly House.” Stats: six residences, 29 bedrooms, 3 pools, movie theater, disco, 6 acres north of Sunset Blvd.
European stocks are expected to have positive momentum next week as large-cap companies continue to perform on the back of strong global revenue streams.
Shares in Belvedere jumped 7% Friday as the French wine and spirits group said it will sell its Pulco and Sirop Sport businesses to Orangina Group for 178 million euros ($242.9 million).
The European Central Bank kept interest rates steady at 4% Thursday, as widely expected.
The headline this morning from Automotive News is hardly surprising, but it is another reminder of how the U.S. auto industry has changed dramatically in recent years. The latest data shows Japan surpassed the U.S. last year to become the world's #1 vehicle producer. It's the first time in 12 years Japan has outpaced the U.S. Not only that, but the Asian country is on track this year to expand its lead.
Inflation in the 13 nations that share the euro held steady at 1.9% in June while business and consumer confidence slipped slightly after soaring a month earlier, the European Commission said Friday.
Airbus added more multi-billion dollar orders to its Paris air show haul on Wednesday, but analysts said the bonanza did not herald a new dawn for the troubled European aircraft maker.
Dutch banking and insurance company ING Group is buying Turkey's Oyak Bank for $2.67 billion, joining a rush of overseas financial groups buying into the fast-growing Turkish market.
Mail delivery across the European Union should be liberalized by 2011, a panel of EU lawmakers recommended, backing countries such as France and Luxembourg seeking a postponement of the 2009 deadline proposed by the EU's executive arm.