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Emergency Financial Manager in a report issued on Monday presented a review of Detroit's problems, from gaping budget deficits to a crushing debt load and said the city is insolvent.
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DETROIT-- Michigan public school districts can stop collecting union dues from teachers and other employees through payroll deduction, according to a 2-1 federal appeals court ruling.
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WESTLAND, Mich.-- A Detroit- area restaurant will pay $60,000 for telling a family to leave because the children had a genetic skin condition, the U.S. Justice Department announced Wednesday.
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DETROIT, May 9- Consumer Reports magazine awarded a near-perfect score to Tesla Motors Co's Model S, citing the electric car's power, "pinpoint" handling and quiet, well-crafted interior. It's what Marty McFly might have brought back in place of his DeLorean in' Back to the Future'. "
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*Adjusted EPS 12 cents vs Wall Street view 4 cents. DETROIT, May 8- Tesla Motors Inc reported its first-ever quarterly profit on Wednesday, trouncing Wall Street estimates, as the 10- year-old automaker delivered nearly 5,000 Model S electric cars during the first three months of the year.
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*Adjusted EPS 12 cents vs Wall Street view 4 cents. DETROIT, May 8- Tesla Motors Inc reported its first-ever profit that trounced Wall Street estimates on Wednesday and forecast global demand for its Model S electric car could surpass 30,000 vehicles a year.
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*Adjusted EPS 12 cents vs Wall Street view 4 cents. DETROIT, May 8- Tesla Motors Inc, maker of the Model S electric sedan, reported a first-quarter profit that trounced Wall Street expectations on Wednesday, sending shares up 17 percent in after-hours trading.
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DETROIT-- Shares of Tesla Motors Inc. soared nearly 26 percent in after-hours trading Wednesday after the electric car maker posted its first quarterly net profit since it was founded a decade ago.
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DETROIT, May 8- Vehicle Production Group LLC, a maker of wheelchair-accessible vans that received $50 million in low-interest federal loans, has closed its doors after running out of cash. The U.S. Department of Energy confirmed news of VPG's closure, first reported by the newspaper USA Today.
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DETROIT, May 8- U.S. auto safety regulators closed two separate probes into vehicles made by Ford Motor Co and Chrysler Group LLC after the two U.S. automakers conducted safety recalls this year to fix glitches in some models. Ford's recall affected 33,500 minivans outside the United States.
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BROOMFIELD, Colo.-- Vail Resorts Inc. is adding Arlberg, Austria, to the list of places where holders of its Epic Pass can ski. It previously said the pass would include five days at Verbier, Switzerland, up from three this past season, plus newly added access to the Eldora ski area near Boulder, Colo..
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Specialized hedge funds which transformed corporate bankruptcies may be poised to descend on another landscape: struggling cities and counties - and no place beckons more than Detroit.
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Now these same funds may be poised to descend on another landscape: struggling cities and counties- and no place beckons more than Detroit.
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DETROIT-- Seventy-nine gallons of "very slightly radioactive water" from a leaky tank at Entergy Corp.' s troubled Palisades Nuclear Power Plant spilled into Lake Michigan, a Nuclear Regulatory Commission spokeswoman said Monday. The plant is 80 miles east-northeast of Chicago in Van Buren County's Covert Township.
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SEOUL, May 7- General Motors Co will not pull out of South Korea but will discuss labour woes with South Korea's President, its CEO was quoted as saying by its Korean union, a move that could complicate already troubled relations with its local workforce.
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SEOUL, May 7- General Motors Co will not pull out of South Korea but will discuss labour woes with South Korea's President, its CEO was quoted as saying by its Korean union, a move that could complicate already troubled relations with its local workforce.
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DETROIT-- Shares of General Motors rose more than 4 percent early Monday after an analyst raised his earnings estimates and stock price target. But losses narrowed in Europe for the first time since 2011, the earnings beat analysts' forecasts and shares hit a 52- week high.
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WASHINGTON, May 6- The Treasury Department said on Monday it will begin another round of sales of the General Motors Co stock it acquired during the government's bailout of the U.S. auto sector. GM executives have chafed under the tag of " Government Motors" since its 2009 government-sponsored bailout and bankruptcy that left the U.S.
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DETROIT, May 6- General Motors Co will recall more than 38,000 sedans equipped with its "eAssist" mild hybrid system to repair circuit boards that may overheat leading to a loss of battery charge or in extreme cases, a fire in the trunk. GM said it knew of two trunk fires related to the condition but added that there were no injuries or crashes as a result of the issue.
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DETROIT, May 6- General Motors Co will recall more than 38,000 sedans equipped with its "eAssist" mild hybrid system to repair circuit boards that may overheat leading to a loss of battery charge or in extreme cases, a fire in the trunk. GM said it knew of two trunk fires related to the condition but added that there were no injuries or crashes as a result of the issue.
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WASHINGTON, May 6- The Treasury Department said on Monday it will begin another round of sales of the General Motors Co stock it acquired during the government's bailout of the U.S. auto sector. GM executives have chafed under the tag of " Government Motors" since its 2009 government-sponsored bailout and bankruptcy that left the U.S.