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  • Fiat Chrysler CEO again makes pitch for auto mergers Wednesday, 29 Apr 2015 | 8:24 AM ET

    MILAN— Fiat Chrysler Automobiles CEO Sergio Marchionne says the auto industry faces grave risks if companies don't start consolidating and share skyrocketing product development costs. The company posted first-quarter net profit of $101 million, compared with a net loss of $193 million in the same period of 2014.. Major automakers spent a total of $136...

  • DETROIT, April 28- Detroit automakers have come full circle, relying as they did before the financial crisis on profits from selling trucks and sport utility vehicles in the United States to cover losses overseas. That's the profit formula Detroit was supposed to move beyond after the financial crisis, gas price shocks and the federal bailouts of General...

  • Seeking answers to getting recalled cars fixed quickly Tuesday, 28 Apr 2015 | 9:45 AM ET

    Mark Rosekind, head of the National Highway Traffic Safety Administration since December, wants to get that repair rate to 100 percent. General Motors, fined $35 million by NHTSA for moving too slowly to recall about 2.6 million small cars with faulty ignition switches, was praised for using new methods to reach owners. The defective switches caused numerous...

  • DETROIT— Ally Financial, the former lending arm of General Motors, said its quarterly profit more than doubled, thanks mainly its sale of a stake in an auto-loan company in China. The results beat Wall Street's expectations, and drove the lender's stock up 49 cents, or 2 percent, to $20.80 in early trading Tuesday morning. The average estimate of eight analysts...

  • Last year's profit shortfall was due about half to quality-related costs and half to weaker sales in the United States and Japan, Honda Executive Vice President Tetsuo Iwamura told a briefing for reporters. Honda's sales have suffered in the United States, its biggest market, due to an aging product line-up and as cheaper fuel shifts demand towards large SUVs...

  • GM ignition switch death toll rises to 90 Monday, 27 Apr 2015 | 11:03 AM ET

    DETROIT— Families of at least 90 people killed in crashes caused by defective General Motors ignition switches will get compensation from the automaker. Attorney Kenneth Feinberg, who was hired by GM to compensate victims, updated the total Monday. The fund received 4,342 claims by the Jan. 31 deadline. Twenty-three percent are still under review.

  • UPDATE 1-LME moves to cut warehouse queues faster Monday, 27 Apr 2015 | 6:19 AM ET

    LONDON, April 27- New measures to increase the amount of metal withdrawn from warehouses, relative to material brought in, will help to reduce queues faster at London Metal Exchange registered warehouses, the exchange said on Monday. The LME, the world's oldest and biggest market for industrial metals which is now owned by Hong Kong Exchanges and Clearing Ltd,...

  • Michigan vote tests pothole angst vs. will to raise taxes Saturday, 25 Apr 2015 | 12:24 PM ET

    Mary Jo Walentovic was driving on a Detroit- area interstate in February when a car kicked up a large chunk of road that smashed through her van's windshield, destroying the rearview mirror and an armrest. Fed up, she plans to vote for a 1- cent sales tax increase on Michigan's May 5 ballot that would put an additional $1.2 billion a year into fixing deteriorating...

  • Ford recalls 390,000 cars to fix door latches Friday, 24 Apr 2015 | 3:48 PM ET

    DETROIT— Ford is recalling about 390,000 cars because the doors may not latch properly and could open while the cars are in motion. Ford Motor Co. said two people suffered sore shoulders from doors bouncing back after they were closed. The U.S. National Highway Traffic Safety Administration began investigating Fiesta door latches in September after getting...

  • Business events scheduled for the coming month Friday, 24 Apr 2015 | 1:33 PM ET

    WASHINGTON— Institute for Supply Management releases its manufacturing index for April, 10 a.m.; Commerce Department releases construction spending for March, 10 a.m.. WASHINGTON— Commerce Department releases international trade data for March, 8:30 a.m.; Institute for Supply Management releases its service sector index for April, 10 a.m..

  • April 24- Industry consultants LMC Automotive and J.D. Power on Friday forecast that April U.S. auto sales will rise 5.4 percent from a year ago. On an annualized basis, April U.S. sales will be 16.6 million vehicles, the consultancies said. LMC also held its forecast for this year's auto sales at 17 million vehicles, up 3 percent from last year.

  • Harley recalls nearly 46,000 motorcycles Friday, 24 Apr 2015 | 12:18 PM ET

    DETROIT— Harley-Davidson is recalling nearly 46,000 motorcycles in the U.S. because they could stay in gear due to clutches that won't fully disengage. The recall covers certain Electra Glide, Ultra Limited, Police Electra Glide, Street Glide, Road Glide and Road King models from the 2014 and 2015 model years. Harley-Davidson Motor Co. said in documents that gas...

  • DETROIT, April 24- General Motors Co Chief Executive Officer Mary Barra, who last year became the first woman to lead a major U.S. automaker, received $16.2 million in 2014 compensation, up 78 percent from her predecessor's total the previous year. She received $4.55 million in salary and other liquid compensation for 2014, GM said in a proxy filed on Friday with...

  • DETROIT— General Motors CEO Mary Barra's compensation more than tripled in 2014 to $15.8 million in her tumultuous first year in the automaker's top job. Almost immediately, she was hit with a series of embarrassing safety recalls that led to congressional hearings, a Justice Department investigation and a $35 million fine from U.S. safety regulators.

  • DTE Energy beats 1Q profit forecasts Friday, 24 Apr 2015 | 7:27 AM ET

    DETROIT _ DTE Energy Co. on Friday reported first-quarter earnings of $273 million. DTE Energy expects full-year earnings in the range of $4.48 to $4.72 per share. DTE Energy shares have declined 4 percent since the beginning of the year, while the Standard& Poor's 500 index has increased nearly 3 percent.

  • DETROIT— Federal agricultural officials announced Thursday voluntary programs and initiatives for farmers, ranchers and foresters meant to build on President Barack Obama's efforts to combat global warming— and they don't require congressional approval. Agriculture Secretary Tom Vilsack unveiled the plans at Michigan State University, where Obama...

  • Ford to lay off 700 workers due to slow car sales Thursday, 23 Apr 2015 | 6:07 PM ET

    DETROIT— Ford Motor Co. said Thursday it's laying off 700 workers at a Michigan assembly plant because of slow sales of the small cars and hybrids it makes. The Michigan Assembly Plant, in the Detroit suburb of Wayne, will move from three shifts to two starting June 22, spokeswoman Kristina Adamski said. The plant is the same one President Barack Obama visited in...

  • NEW YORK— The Justice Department is suing Quicken Loans, saying the lender approved hundreds of mortgage loans that didn't meet federal standards, leaving the government stuck with the bill when borrowers defaulted. The U.S. Department of Justice said Thursday that between September 2007 and December 2011, Quicken approved, underwrote, and certified the...

  • DETROIT, April 23- Ford Motor Co said on Thursday it will lay off about 700 workers at a Detroit- area plant making compact and compact hybrid cars, responding to a dip in demand for such vehicles amid lower gasoline prices. Michigan Assembly Plant in Wayne, Michigan is cutting a shift and will run on two shifts beginning June 22, said Ford spokeswoman Kristina...

  • DETROIT— Fiat Chrysler Automobiles is recalling 58,833 older cars and SUVs with manual transmissions. The recall covers 2006 Jeep Liberty and Wrangler SUVs and Dodge Viper cars produced between Feb. 15, 2005, and Sept. 14, 2006. The rest were sold in Canada, Mexico and overseas.