GO
Loading...

Detroit

More

  • Deal expected between Detroit, major creditor Thursday, 16 Oct 2014 | 1:46 AM ET

    DETROIT— The judge overseeing Detroit's bankruptcy is expected to get news of a settlement between the city and a major creditor. Lawyers have promised to reveal details in court Thursday as the trial on Detroit's bankruptcy plan nears an end. Judge Steven Rhodes, who has presided over the trial since early September, must determine whether Detroit's plan for...

  • DETROIT, Oct 15- Ordinary Detroit residents sounded off with passion and anger on Wednesday as they gave a federal judge their views on the city's plan to exit its historic municipal bankruptcy. Bankruptcy Judge Steven Rhodes began a hearing on Sept. 2 to determine if Detroit's plan to restructure $18 billion in debt is fair and feasible. Some residents of...

  • Toyota recalls Lexuses in US for fuel leak risk Wednesday, 15 Oct 2014 | 1:27 PM ET

    DETROIT— Toyota is recalling about 423,000 older-model Lexus luxury cars in the U.S. because a gasket can leak fuel and possibly cause a fire. The move is among three global recalls that Toyota announced Wednesday totaling about 1.7 million vehicles. The Lexus recall is part of a larger recall of 759,000 cars that also covers the Crown Majesta, Crown and Mark X in...

  • DETROIT, Oct 15- General Motors Co's global sales rose 2 percent in the third quarter, driven by strong demand in the two largest auto markets in the world, China and the United States. Japan's Toyota Motor Corp will report third-quarter sales on Nov. 5. Those results helped offset declines in South America, Europe and its international operations in Asia excluding...

  • VW edges GM to hold 2nd place in global sales race Wednesday, 15 Oct 2014 | 10:13 AM ET

    DETROIT— Volkswagen barely edged out General Motors for second place in the global auto sales race during the first three quarters of the year, but Toyota was expected to keep its lead to stay in first place. Volkswagen, which nudged GM out of second in the first half of the year, stayed ahead even though the Detroit automaker had its best third-quarter global sales...

  • Britain's Court of Appeal last week overturned a previous High Court ruling that the LME's consultation on linking load-in and load-out rates at log-jammed warehouses was unlawful. This, however, looks little more than defiant posturing, given that the Court of Appeal expressly denied it the right of further appeal. Just a shame then that the two aluminium...

  • DETROIT, Oct 14- A settlement with Financial Guaranty Insurance Co, the last major holdout creditor in Detroit's historic bankruptcy case, is close and could be announced on Thursday, attorneys said on Tuesday. Detroit's attorney, Thomas Cullen at law firm Jones Day, told U.S. FGIC, which has $1.1 billion on the line from insuring Detroit pension debt, is facing the...

  • DETROIT/ NEW YORK, Oct 14- Auto analysts are skeptical that Sergio Marchionne, the hyperbolic chief executive of Fiat Chrysler Automobiles, can meet his most ambitious goal: to nearly double Jeep's global sales over the next four years. Marchionne reiterated his aggressive target for boosting Jeep's annual volume to 1.9 million, while pacing the floor of the New...

  • Chrysler recalls 184K SUVs for air bags, seat-belts Tuesday, 14 Oct 2014 | 11:47 AM ET
    2014 Dodge Durango

    Chrysler said an electrical short circuit may occur in certain 2014-model Dodge Durango and Jeep Grand Cherokee SUVs.

  • DETROIT, Oct 14- Chrysler Group is recalling an estimated 184,215 sport utility vehicles globally because a possible short circuit in a part could disable air bags and seat-belt pretensioners, the automaker said on Tuesday. Chrysler, a unit of Fiat Chrysler Automobiles, said an electrical short circuit may occur in the occupant restraint control module in...

  • Chrysler recalls 184,215 SUVs for air bag defect Tuesday, 14 Oct 2014 | 11:02 AM ET

    DETROIT— Chrysler is recalling 184,215 SUVs worldwide because a wiring problem could disable their air bags and seat belt pretensioners. The recall involves the 2014 model year Dodge Durango and Jeep Grand Cherokee. Most are in the U.S., but 57,443 SUVs are in Canada, Mexico and elsewhere.

  • Business Highlights Monday, 13 Oct 2014 | 6:18 PM ET

    WASHINGTON— Just as their economies had begun to recover from the man-made horror of coups and civil war, the West African nations of Guinea, Liberia and Sierra Leone have been knocked back down by a terrifying force of nature: the Ebola virus. In Conakry, capital of Guinea, stray dogs, goats and sheep are plopping down next to empty stalls in street markets devoid of...

  • *FCA closes at $8.92 in New York, up 2.5 percent from predecessor's Friday close. MILAN/NEW YORK, Oct 13- Investors cautiously greeted the Wall Street debut on Monday of Fiat Chrysler Automobiles, a move that shifts the carmaker's center of gravity away from Italy and caps a decade of canny dealmaking and tough restructuring by Chief Executive Sergio Marchionne.

  • *FCA opens at $9.00 in New York, closes in Milan at 7.03 euros. MILAN/NEW YORK, Oct 13- Fiat Chrysler Automobiles made its Wall Street debut to great fanfare on Monday, shifting the carmaker's center of gravity away from Italy and capping a decade of canny dealmaking and tough restructuring by CEO Sergio Marchionne. FCA shares opened at $9.00 in New York, up from a...

  • Fiat Chrysler shares fall in 1st day on NYSE Monday, 13 Oct 2014 | 12:15 PM ET
    Sergio Marchionne

    Shares of Fiat Chrysler jumped as the market opened, but fell later in the morning after making their NYSE debut.

  • GM ignition switch deaths rise to 27 Monday, 13 Oct 2014 | 11:21 AM ET

    DETROIT— At least 27 people have died and 25 people have been seriously injured in crashes involving General Motors cars with defective ignition switches. Attorney Kenneth Feinberg, who was hired by GM to compensate victims, updated the totals Monday. None of the offers has been rejected, said Camille Biros, deputy administrator of the fund for Feinberg's firm.

  • DETROIT, Oct 13- Fiat Chrysler Automobiles began trading Monday on the New York Stock Exchange under the symbol FCAU.N. Marchionne will ring the closing bell at the NYSE on Monday to mark the milestone for the 62- year-old car executive, who also revived one of Italy's top companies. FCAU.N opened Monday on the NYSE at $9.00, up from Friday's close of $8.70 for the...

  • Fiat Chrysler shares close down in 1st day on NYSE Monday, 13 Oct 2014 | 8:20 AM ET

    DETROIT— Shares of Fiat Chrysler Automobiles bounced between negative and positive Monday after making their debut on the New York Stock Exchange, and they edged higher toward the market close. The newly merged company's stock, traded under the symbol FCAU, opened at $9 and rose quickly to $9.55 before falling much of the day. The company began trading in New York...

  • *FCA trading on NYSE opens 1330 GMT, followed by Milan. MILAN, Oct 13- Fiat Chrysler Automobiles makes its Wall Street debut to great fanfare on Monday, shifting the carmaker's centre of gravity away from Italy and capping a decade of canny dealmaking and tough restructuring by CEO Sergio Marchionne. Analysts think the U.S. auto industry is nearing a peak, while...

  • Michigan to fight blight in 12 cities using $75M Monday, 13 Oct 2014 | 6:45 AM ET

    LANSING, Mich.— Michigan plans to fight blight in 12 cities using $75 million in federal funding, the latest in a series of efforts to deal with vacant and dilapidated buildings across the state. The plans, created by the Michigan State Housing Development Authority, will help fund work in Detroit, Ecorse, Hamtramck, Highland Park, Inkster and River Rouge in Wayne...