Detroit has received a go-ahead from a federal judge to start implementing its bankruptcy exit plan.» Read More
*Seeks to create Dutch-registered Fiat Chrysler Automobiles. MILAN/ DETROIT Aug 6- Fiat Chief Executive Sergio Marchionne on Wednesday blamed overblown press reports and a "lack of understanding" of the merger with its U.S. unit Chrysler for a share sell-off that threatens to blow the planned tie-up off course.
MILAN/ DETROIT, Aug 6- Fiat Chrysler chief Sergio Marchionne on Wednesday blamed overblown press reports and a "lack of understanding" of the merger with Chrysler for a share sell-off that threatens to prevent the tie-up's completion.
DETROIT, Aug 6- Amid concerns that Fiat shareholders will prevent a merger of the Italian automaker with Chrysler Group, the American automaker reported that second-quarter profit was up 22 percent to $619 million.
SAO PAULO, Aug 5- When João Paulo de Oliveira was fired in 1980 by Rapistan, a Michigan- based manufacturer of conveyor belts, his troubles were only beginning. In ensuing years, the military dictatorship that ran Brazil arrested or detained him about 10 times.
The U.S. National Highway Traffic Safety Administration said in documents filed online on Friday the investigation was upgraded to an "engineering analysis" from a "preliminary evaluation" of the 2008 four-door models made by Honda Motor Co.
WASHINGTON, Aug 4- The Treasury Department's new office on state and local finance will scrutinize public pensions, appointing a specialist in the area and becoming a resource for retirement planning, its inaugural director said in a speech on Monday.
The U.S. National Highway Traffic Safety Administration said in documents filed online on Friday that it was upgrading the investigation to an "engineering analysis" from a "preliminary evaluation" of the 2008 four-door models made by Honda Motor Co. Honda officials were not immediately available for comment.
BEIJING Aug 3- General Motors said on Sunday that it had asked its main Chinese supplier to find an alternative source of components after an explosion ripped through a factory a day earlier killing at least 69 people.
Aug 1- South Korea's Hyundai Motor Co is recalling about 420,000 vehicles covering three models for separate problems in the United States, after recalling 883,000 Sonata sedans this week, according to U.S. safety regulators.
DETROIT, Aug 1- The U.S. auto industry hasn't appeared so healthy for years. And yet, a minority on Wall Street and in the autos business are seeing reasons to be wary. Among those seeing a glass half empty is Morgan Stanley auto analyst Adam Jonas who says we may be heading towards what he terms "peak auto."
DETROIT, July 31- Tesla Motors Inc, the California- based maker of luxury electric cars, said it lost $61.9 million, or 50 cents a share, in the second quarter, as revenue nearly doubled to $769.3 million. In the year-ago quarter, Tesla lost $30.5 million, or 26 cents a share, on revenue of $405.1 million.
DETROIT, July 31- Tesla Motors Inc, the California- based maker of luxury electric cars, said it lost $61.9 million, or 50 cents a share, in the second quarter, as revenue nearly doubled to $769.3 million. On a non-GAAP basis, Tesla said it earned 11 cents a share, topping analysts' expectations of 4 cents.
DETROIT, July 31- Delphi Automotive Plc reported stronger-than-expected second-quarter profit on Thursday, but offered a forecast for the third quarter that could fall short of analysts' expectations, and shares fell 0.4 percent in morning trading.
July 30- A federal appeals court panel heard arguments on Wednesday between Detroit and one of its last hold-out creditors over casino tax revenue, with one of the judges promising a careful consideration of the case, the Detroit News reported.
*Results hit by weak Latin America, disappointing N. America. MILAN, July 30- Fiat plans to review its leasing and sales incentive practices in North America to boost margins in the region as it seeks to meet its global full-year targets despite persistent weakness in Latin America and further losses in Europe.
DETROIT, July 30- South Korean automaker Hyundai Motor Co will recall about 883,000 Sonata mid-sized sedans in the United States and Puerto Rico because a potentially defective transmission-shift cable could increase the risk of a crash.
DETROIT, July 30- South Korean automaker Hyundai Motor Co will recall about 883,000 Sonata mid-sized sedans in the United States and Puerto Rico because a potentially defective transmission-shift cable could increase the risk of a crash. Hyundai officials could not immediately be reached for comment.
July 29- Detroit has been making progress in settling disputes with its public safety unions, a development that has put the brakes on several appeals in federal court of a ruling that the city was eligible for municipal bankruptcy, attorneys said on Tuesday.
DETROIT, July 29- Auto systems supplier TRW Automotive Holdings Corp, targeted for takeover by ZF Friedrichshafen, easily beat Wall Street profit expectations for the second quarter as revenue rose 2 percent. Excluding one-time items, TRW earned $2.32 per share in the quarter, versus $2.02 a year earlier, it said on Tuesday.
LONDON, July 29- On the surface at least, much has changed in the London Metal Exchange warehousing business over the past year. The exchange has much more work to do if it wants to rectify a delivery system that has ruptured relations with some of its users and generated a spate of lawsuits in the United States.