Ford is recalling nearly 435,000 cars to fix rusting frame parts or faulty seats.» Read More
DETROIT— The city of Detroit reached tentative agreements to preserve pensions for retired police office and firefighters but cut monthly payments for other former employees, key deals that could accelerate the largest public bankruptcy in U.S. history, officials said Tuesday.
DETROIT— General Motors revealed in court filings late Tuesday that it will soon ask a federal bankruptcy judge to shield the company from legal claims for conduct that occurred before its 2009 bankruptcy.
April 15- Detroit reached its first deal with a retired workers group on Tuesday over pension and healthcare benefits and was close to a deal with at least one of its pension funds, giving a major boost to the city's plan to exit bankruptcy in October.
DETROIT— As General Motors shows off its newest cars and trucks in New York this week, analysts are watching for signs that consumers are shying away from the ones sitting on dealer lots.
But Congress will have to act fast. Foxx's warnings this week echo ones by President Barack Obama, who cautioned in February that unless Congress finished a bill by summer's end then "we could see construction projects stop in their tracks."
April 15- Detroit reached its first deal with a retired workers group on Tuesday over pension and healthcare benefits and was close to a deal with its two pension funds, giving a major boost to the city's plan to exit bankruptcy in October.
DETROIT— The city of Detroit reached a deal with a group of retired police officers and firefighters that would protect pensions but trim annual cost-of-living payments— the first major agreement with retirees in the bankruptcy case, mediators announced Tuesday.
A deal calling for pension cuts with groups representing former city employees could come as early as Tuesday, the Detroit Free Press said on its website. "The two sides have made significant progress in mediation talks...," the Detroit Free Press said.
A turnaround in Johnson& Johnson's prescription medicine business fueled by new drugs, combined with reduced production and administration expenses, lifted first-quarter profit by 8 percent. The maker of Band-Aids and biologic drugs said net income was $4.73 billion, or $1.64 per share, up from $3.5 billion, or $1.22 per share, a year earlier.
Markets in Chicago and Detroit were among those struggling to fill whitefish orders before the beginning of the eight-day celebration Monday evening, and a representative of a commercial fishing agency said the shortfall extended as far as New York.
*Porsche product drive faced scepticism among fans. MILAN, April 14- As Fiat Chrysler moves to reinvent its small Maserati brand as a serious rival to the world's luxury car makers, the pressure to succeed is all the greater for the startling success of Germany's Porsche.
DETROIT— General Motors is replacing the executives in charge of communications and human resources as it struggles with a string of embarrassing recalls that have led to congressional hearings and federal investigations.
DEARBORN, Mich.— AAA Michigan says gasoline prices have risen about 6 cents during the past week to a statewide average of about $3.71 per gallon. Of the cities it surveys, AAA Michigan says the cheapest price for self-serve unleaded fuel is in the Traverse City area, where it's about $3.64 a gallon.
WASHINGTON- For a bunch of people who just agreed the global economy is doing better, top officials from the world's rich and poor nations sound rather worried. -IMF-ECONOMY/, moved, by Jan Strupczewski and Krista Hughes, 870 words. PARIS- Two years ago, Greece's debt crisis almost brought the euro zone crashing down.
*Congress probes automaker's failure to fix until 2014.
DETROIT— Documents released by a House subcommittee show that managers and employees at General Motors were often slow to react to safety problems— and that one part of GM often didn't know what another was doing.
WASHINGTON/ DETROIT, April 11- Documents made public on Friday by a U.S. House of Representatives committee provided fresh details on General Motors Co's awareness of problems surrounding ignition switches in millions of its cars- long before the Detroit automaker recalled the vehicles.
KITIMAT, British Columbia, April 11- A small Canadian town's vote on whether to back Enbridge Inc's proposed Northern Gateway oil pipeline could have a far greater impact on the country's energy industry- and future economic health- than its advisory status might suggest.
DETROIT, April 11- Detroit's plan to get out of bankruptcy cleared a major hurdle on Friday when a U.S. Bankruptcy Court judge approved the cash-strapped city's third attempt at settling costly interest-rate swap agreements with two investment banks.
DETROIT— Shares of General Motors Co. sank to a 10- month low Friday amid continuing fallout from a mishandled recall of 2.6 million small cars. The stock fell $1.37, or 4.1 percent, to close at $31.93, with most of the decline in the middle of the afternoon.