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Detroit

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  • Bankruptcy Judge Steven Rhodes asked pointed questions on Friday about how Detroit will fare after it exits its historic bankruptcy, expressing concerns about a commission intended to oversee city finances and a settlement with Syncora Guarantee Inc.. The judge also raised concerns over how the city would monitor deadlines and requirements in a complex...

  • DETROIT, Oct 3- General Motors Co said on Friday it was recalling 524,384 cars and sport utility vehicles globally in two actions dealing with potential latch problems and loose parts and would stop sales of two new truck models with potential air bag defects. The company said it was recalling 430,550 Cadillac SRX and Saab 9-4 X SUVs for possible loose joint and...

  • PARIS, Oct 3- With the landmark listing of Fiat Chrysler Automobiles less than two weeks away, CEO Sergio Marchionne has a clear criterion for success: more than half of the merged company's shares changing hands in New York instead of Milan. "If we do more volumes in New York than we do in Milan, that's a good benchmark," Marchionne said in an interview at the Paris auto...

  • DETROIT, Oct 3- General Motors Co said on Friday it is recalling 524,384 cars and sport utility vehicles globally in two actions dealing with potential latch and loose part issues. GM said it is recalling 430,550 Cadillac SRX and Saab 9-4 X SUVs for possible loose joint and worn threads in the rear toe link assembly that could cause the vehicle to wander at highway...

  • DETROIT, Oct 2- Without a series of settlements, Detroit would face years of costly litigation from creditors and others, with no guarantee that the city would win, Kevyn Orr, Detroit's emergency manager, said on Thursday. The bond insurance company, which local media has reported is in settlement talks with Detroit, faces a recovery of 10 cents to 13 cents on the...

  • DETROIT, Oct 2- It could be a defining element of Chief Executive Mary Barra's legacy at General Motors Co: A drastic shift over the next 10 years from 26 global vehicle production platforms to just four by 2025, a bold stroke that could eventually save the U.S. automaker many billions of dollars in production costs. However, to get there GM faces a challenge of...

  • DETROIT, Oct 2- The United Auto Workers and two German labor groups will announce on Friday plans to work together to organize Daimler AG's Mercedes-Benz plant workers in Alabama, sources close to one of the German labor groups said on Thursday. The goal is for the UAW to eventually represent Daimler workers in Alabama in negotiations with the luxury automaker.

  • DETROIT, Oct 2- Ford Motor Co's Lincoln MKS large luxury sedan received a "poor" rating in an influential U.S. safety group's crash test. The driver space in the 2015 MKS was severely limited after the small overlap crash test and the steering column moved 5 inches inward and 6 inches to the right, according to the Insurance Institute for Highway Safety, which...

  • DETROIT, Oct 2- Without a series of settlements, Detroit would be facing years of costly litigation from creditors and others that the city had no guarantee of winning, Kevyn Orr, Detroit's emergency manager, said on Thursday. Orr was appointed by Michigan's governor in March 2013 to salvage Detroit's finances and is considered the key witness in the city's...

  • Snapshot of Detroit area real estate   Thursday, 2 Oct 2014 | 2:00 PM ET
    Snapshot of Detroit area real estate

    Jenilynn Estereicher, realtor with Century 21 Town & Country, shows CNBC what your money can buy you in Oakland Township, Mich.

  • Fiat needs more than the 500 to turn core brand around Thursday, 2 Oct 2014 | 5:43 AM ET

    *Fiat to unveil 500 X at this month's Paris auto show. PARIS, Oct 2- While rivals roll out new models and concept cars, Fiat has little to show at the Paris auto show besides another variant of its retro-styled 500 compact car, in what is starting to look like a worrying trend for the carmaker's namesake brand. "The 500 is getting older and older, the success of its variants...

  • SACRAMENTO, Calif., Oct 1- The judge presiding over the Stockton, California, bankruptcy case said on Wednesday that he will wait until late October to make a final ruling over whether the city can exit bankruptcy. In that case, the city's pension plans have agreed to accept benefit reductions, but the Detroit bankruptcy is not yet resolved. "This ruling is not legally...

  • Judge rules against Calpers in Stockton bankruptcy Wednesday, 1 Oct 2014 | 5:53 PM ET
    A pedestrian walks by a newspaper rack displaying the headline 'Bankrupt!' last summer in Stockton, Calif.

    The U.S. bankruptcy judge overseeing Stockton, California's municipal bankruptcy trial ruled that Calpers could be forced to absorb losses.

  • SACRAMENTO, Calif., Oct 1- The judge overseeing the Stockton, California, bankruptcy on Wednesday ruled the state's huge pension system, Calpers, can be impaired as part of the city's financial restructuring. Bankruptcy Judge Christopher Klein said the city's contract with the California Public Employees' Retirement System could be rejected.

  • DETROIT, Oct 1- Detroit needs to eradicate blighted properties and keep its art collection in order to thrive once it exits bankruptcy, a billionaire business leader told the city's bankruptcy trial on Wednesday. Blight grows, " Dan Gilbert, founder of Detroit- based mortgage lender Quicken Loans, said after taking the stand in the historic bankruptcy case.

  • Oct 1- A federal appeals court rejected Ford Motor Co's bid to recoup about $450 million of interest from the U.S. government on taxes overpaid by the automaker.

  • MILFORD, Mich., Oct 1- General Motors Co said on Wednesday it expects in 2016 to ring up its first profit in Europe in more than a decade and that it will also hit targeted North American operating margins that year. The projections came two days after its smaller rival, Ford Motor Co, disappointed investors with its financial outlook.

  • MILFORD, Mich., Oct 1- General Motors Co said on Wednesday it expects in 2016 to ring up its first profit in Europe in more than a decade and that it will also hit targeted North American operating margins that year. The projections came two days after its smaller rival, Ford Motor Co, disappointed investors with its financial outlook.

  • MILFORD, Mich, Oct 1- General Motors Co on Wednesday said that in 2016 it would ring up its first profits in Europe in more than a decade and hit targeted North American operating margins. The news came two days after its smaller rival Ford Motor Co disappointed investors with its financial outlook.

  • Nissan U.S. September sales rise 18.5 percent Wednesday, 1 Oct 2014 | 8:33 AM ET

    Oct 1- Nissan Motor Co reported its U.S. sales for September rose 18.5 percent at 102,955 vehicles, beating analysts' expectations. Nissan's namesake brand showed sales were up 22 percent at 95,118 vehicles and its luxury Infiniti brand sales fell 13 percent at 7,837 vehicles.