Ford told US dealers to stop test-driving and selling some recently made models due to steering gear issues.» Read More
DETROIT, Aug 22- The Detroit Board of Water Commissioners agreed on Friday to repurchase nearly $1.5 billion of water and sewer revenue bonds tendered by investors by a deadline on Thursday.
DETROIT— An auto safety advocacy group has asked the U.S. government to investigate power system failures in Chrysler vehicles that could cause them to stall while being driven. The Center for Auto Safety, a nonprofit group founded by Ralph Nader, filed a petition Friday asking the National Highway Traffic Safety Administration for the probe.
NEW YORK— In a story Aug. 20 about lending to women-owned businesses, Maria Coyne, head of small business banking at KeyBank, was quoted by The Associated Press as saying the Federal Deposit Insurance Corp. examines banks' lending records and makes a judgment about whether they're being prudent lenders.
Aug 21- U.S. federal prosecutors have learned that lawyers for General Motors Co were present at key meetings during which information about problems with some of its vehicles were discussed, a source close to the investigation said.
Aug 21- The holders of $5.2 billion of Detroit water and sewer revenue bonds turned in only 28.34 percent of the debt for repurchase before Thursday's expiration of the city's tender offer, according to tender agent data. Robert Apfel, Bondholder Communications president, said official results would be announced by Detroit on Friday.
DETROIT, Aug 21- Chrysler Group is planning an extensive facelift of its full-size Ram 1500 pickup in spring 2017, but has no firm plans to follow rivals General Motors and Ford Motor Co in replacing steel body panels with aluminum until a complete redesign after 2020, industry sources told Reuters.
Bank of America settlement likely to benefit few. WASHINGTON— Bank of America's record $16.65 billion settlement for its role in selling shoddy mortgage bonds— $7 billion of it geared for consumer relief— offers a glint of hope for desperate homeowners. NEW YORK— To win the hearts of frequent business travelers, United Airlines is going through their stomachs.
Aug 21- Bondholders of $5.2 billion of Detroit water and sewer revenue bonds turned in only 28.34 percent of the debt for repurchase by Thursday's expiration of the city's tender offer, according to tender agent data.
DETROIT, Aug 21- Ford Motor Co has told its dealers to stop test-driving and selling C-Max and Focus models produced during a week this month because of potential problems with the steering gear assembly, a notice sent to dealers on Wednesday shows.
DETROIT— Ford is recalling more than 160,000 vehicles in North America for two safety issues. The largest recall involves 159,395 Focus ST and Escape vehicles from the 2013 and 2014 model years. Ford Motor Co. will notify customers and repair the vehicles for free.
DETROIT, Aug 21- General Motors Co's premium Cadillac group is considering expanding its offices from Detroit to Manhattan, GM said Thursday, as part of an effort to remake the brand's image and broaden its appeal outside North America under new boss Johan de Nysschen.
DETROIT, Aug 21- Ford Motor Co has told its U.S. dealers to stop test-driving and selling C-Max and Focus models produced during a week this month because of potential problems with the steering gear assembly, a notice sent to dealers on Wednesday shows.
DETROIT— When the subcompact Fit failed a crash test, Honda went back to the drawing board. Honda engineers strengthened the welds on the front bumper beams, so energy from a crash would be spread over the entire front of the car.
DETROIT— Oscar-winning actor Matthew McConaughey is the new spokesman for Ford's luxury Lincoln brand. Lincoln says McConaughey will appear in a series of TV and digital ads featuring Lincoln's new small SUV, the MKC. The actor says in a statement that he's a longtime admirer of Lincoln.
Aug 20- Just over a quarter of Detroit's $5.2 billion of outstanding water and sewer revenue bonds were returned to the city for repurchase on Wednesday, 24 hours before the tender offer was due to expire.
DETROIT, Aug 20- Ford Motor Co plans to introduce a new hybrid gasoline-electric car in late 2018 to compete against the best-selling Toyota Prius, two sources with knowledge of the company's plans told Reuters on Wednesday. The sources said Ford eventually could offer several different body styles of the new hybrid, as Toyota does with the Prius.
NEW YORK— Women are a growing force in the business world, but if they own a company, they may still struggle to get a loan from a bank. Carrie Charlick and Marcia Cubitt have $4 million in sales but have been rejected for $500,000 credit lines since 2012. Their 11- year-old company, Essential Body Wear, sells women's underwear at parties at customers' homes.
DETROIT— The U.S. government is offering a free online service for drivers to find out if their vehicles have been recalled but not repaired. The National Highway Traffic Safety Administration said the service started Wednesday on its website, www.safercar.gov. Drivers can key in their vehicle identification number to get the results.
WASHINGTON, Aug 19- NGK Spark Plug Co has agreed to plead guilty and pay a $52.1 million criminal fine over its role in a conspiracy to fix prices and rig bids for spark plugs and other automotive parts, the U.S. Department of Justice said on Tuesday.
LONDON, Aug 19- The enigma machine that is the London aluminum market has shifted gears again. The front part of the London Metal Exchange curve has been tightening for several weeks now to the point that the shortest-dated spreads are currently in backwardation.