Mortgage applications soared to the highest level since January last week, thanks to the lowest interest rates since February.» Read More
General Motors, which owns the Chevrolet brand, unveiled the new 6.2- liter V-8 on Wednesday. The new version of the Corvette will be unveiled at January's North American International Auto Show in Detroit. The sleek sports car has been an icon of Detroit muscle since its debut in 1953..
NEW YORK-- Ally Financial Inc.' s mortgage lending and servicing subsidiary has given preliminary approval to a $3 billion buyout offer from a unit of Ocwen Financial Corp..
LORDSTOWN, Ohio-- President Barack Obama's decision to help America's automakers could end up being what helps drive him back into the White House.
MONROE, Mich.-- Steelmaker Gerdau is unveiling new machinery at a Michigan steel facility as part of the company's ongoing expansion. The company on Wednesday is marking the completion of construction of a continuous caster at its North American special steel facility in Monroe, about 35 miles southwest of Detroit.
DETROIT-- Arts groups in Detroit will share nearly $20 million donated by the John S. and James L. Knight Foundation, including $9 million to be awarded through a communitywide contest to boost the city's best arts ideas, the foundation announced Tuesday.
DETROIT-- Goodyear Tire& Rubber Co. faced a challenging third quarter in a sputtering economy, and its results could reflect that when they are released before the markets open on Friday.
PARIS-- The extent of the European car industry's troubles was laid bare Wednesday, when France's government tossed a financial lifeline to the continent's No. 2 automaker, Peugeot Citroen, and Ford said it would shut a plant in Belgium, cutting 9,500 jobs.
*Asbury plans to repurchase $25 M- $30 M of stock per year. Oct 23- U.S. auto dealership groups Sonic Automotive Inc and Asbury Automotive Group Inc posted higher third-quarter adjusted earnings as vehicle sales rose and costs stayed about flat.
LANSING, Mich.-- Nearly two dozen community health centers in Michigan are getting funding from the U.S. Health Resources and Services Administration. The Michigan Department of Community Health announced Tuesday that the money for 22 centers aims to enhance the quality of care and allow more women to be screened for cervical cancer.
Nearly half of all robberies in San Francisco this year are cell phone-related, police say, and most occur on bustling transit lines. And, in nearby Oakland, City Council candidate Dan Kalb was robbed at gunpoint of his iPhone Wednesday after he attended a neighborhood anti-crime meeting.
DETROIT-- The National Highway Traffic Safety Administration is investigating complaints that children have been trapped in Graco car seats because the buckles won't unlatch.
Chrysler Group LLC, the maker of Jeeps, sold another 18,000 in Canada. In one complaint, a Subaru driver told NHTSA that on May 2, a Patriot's engine died while it was on Interstate 5 on the West Coast. The Subaru was behind the Patriot when it happened, and the woman driving the SUV did not hit the brakes, according to the complaint. "
DETROIT-- Federal safety regulators are investigating complaints that Jeep Patriot SUV engines can stall without warning at highway speeds. The probe by the National Highway Traffic Safety Administration affects about 112,000 Patriots from the 2011 and 2012 model years. The U.S. safety agency says it received a dozen complaints about stalling.
DETROIT-- Stan Ovshinsky, the self-taught inventor who developed the nickel-metal hydride battery used in the hybrid vehicle industry, has died at his home in suburban Detroit after a fight with cancer. His son, Harvey Ovshinsky, said his father was passionate about science and alternative energy, but also about civil rights and other social causes.
DETROIT-- Harley-Davidson Inc. rose Thursday after a Goldman Sachs analyst upgraded the shares, telling investors that the low price and looming motorcycle sales increases make the shares attractive. Analyst Patrick Archambault upgraded Harley from "Neutral" to "Buy," and raised his six-month price target by $3 to $54.
TROY, Mich.-- Chemical giant DuPont Co. is opening an innovation center in suburban Detroit that's aimed at speeding the introduction of new products for the automotive industry. It is DuPont's eighth-such center and is located at its Automotive Development Center in Troy.
On Tuesday, the NHL made its strongest, and most public, pitch yet to save a full season. "I hope we can get going ASAP," Red Wings defenseman Niklas Kronwall told The Associated Press on Wednesday. " Fehr met with the union to formulate a response, and in a letter to players and agents said the management plan would cost his members more than $1.6 billion over six years.
DETROIT-- A federal judge in California has dismissed a lawsuit challenging the use of Albert Einstein's image in a magazine ad by General Motors. The Detroit News says the Hebrew University of Jerusalem filed the lawsuit against GM. Information from: The Detroit News, http://detnews.com/.
NEW YORK-- Can't figure out how to dress as a binder full of women for Halloween? The Yellow One is flying off the shelves after Mitt Romney's threat to do away with government support for PBS.
Mitt Romney wrongly claimed that it took 14 days for President Barack Obama to brand the assault on the U.S. Consulate in Libya a terrorist act. Obama yet again claimed that ending the Afghanistan and Iraq wars makes money available to "rebuild America," even though it doesn't.