NEW YORK/ DETROIT, June 17- Johnson Controls Inc is speaking to private equity firms about selling its roughly $1 billion automotive electronics unit, after buyout interest from many rival auto parts suppliers faltered, according to several people familiar with the matter.» Read More
NEW YORK-- Icahn Enterprises L.P. is planning an offering to allow investors a chance to buy limited partner interests in the company run by billionaire investor Carl Icahn.
BERLIN, June 7- German industrial output and trade activity rose sharply in April but the Bundesbank cut its growth forecast for this year, saying Europe's largest economy would slow down again after a second-quarter surge.
DETROIT, May 22- China's largest auto parts maker and a boutique car company led by former General Motors Co executive Bob Lutz have offered $20 million to buy "green" carmaker Fisker Automotive, people familiar with the matter said on Wednesday.
DETROIT, May 21- A boutique carmaker led by former General Motors Co executive Bob Lutz and China's largest auto parts supplier made an offer this month to buy cash-strapped "green" car company Fisker Automotive, people familiar with the matter said. VL Automotive and China's Wanxiang Group are looking to gain control of Fisker through a prepackaged bankruptcy.
DETROIT, May 21- A boutique carmaker led by former General Motors Co executive Bob Lutz and China's largest auto parts supplier made an offer to buy cash-strapped "green" car company Fisker Automotive this month, people familiar with the matter said.
DETROIT, May 21- A boutique carmaker led by a former General Motors Co executive Bob Lutz and China's largest auto parts supplier submitted an offer to buy cash-strapped "green" car company Fisker Automotive, people familiar with the matter said.
WASHINGTON, May 21- Two executives at Japan's Denso Corp have agreed to plead guilty to conspiring to fix prices of electronic auto parts sold to Toyota and will cooperate with an ongoing criminal investigation, the U.S. Justice Department said on Tuesday.
WASHINGTON, May 21- Two executives at auto parts maker Denso Corp have agreed to plead guilty to conspiring to fix prices and have agreed to cooperate with an ongoing criminal investigation, the U.S. Justice Department said on Tuesday.
*North American production sales up 3 pct; 5 pct in Europe. Aurora, Ontario- based Magna credited rebounding North American auto demand and increased revenue from Europe, where its sales rose even though the industry overall has been hurt by lower production.
TORONTO, May 10- Auto parts maker Magna International Inc posted a higher-than-expected rise in first-quarter profit on Friday as its revenues climbed 9 percent, boosted by strong sales in North America. Net earnings climbed to $369 million, or $1.57 per share, in the quarter ended March 31 from $343 million, or $1.46 per share, a year earlier.
May 1- Magna International Inc said on Wednesday it is resuming operations at a Toronto- area auto parts plant that was earlier shut down by an explosion and fire that injured nine people. Magna said the "minor arc flash explosion" at its Dortec Industries plant, located in the town of Newmarket, some 35 miles north of Toronto, was isolated to one manufacturing line.
May 1- Nine people were injured in an explosion and fire on Wednesday at an auto parts plant in Newmarket, Ontario, owned by Magna International Inc, local police said. York Regional police said six people were sent to the hospital, while Magna said in a statement that five employees were hospitalized for evaluation.
DETROIT, April 25- BorgWarner Inc, which makes automotive turbochargers and emissions systems, on Thursday posted a stronger-than-expected quarterly profit and reaffirmed its full-year financial outlook. Excluding one-time items, BorgWarner earned $1.30 a share, 6 cents better than what analysts polled by Thomson Reuters I/B/E/S had expected.
*At issue is $529 mln loan California carmaker received in 2009. April 24- Taxpayer-backed funds kept flowing to electric carmaker Fisker Automotive months after the company failed to meet key production benchmarks, lawmakers said at a congressional hearing on Wednesday.
*At issue is $529 mln loan California carmaker received in 2009. April 24- U.S. lawmakers grilled top officials from Fisker Automotive Inc on Wednesday over what was termed "the U.S. Department of Energy's bad bet" when it backed the "green" car-maker with hundreds of millions of dollars in loans.
*At issue is $529 mln loan California carmaker received in 2009. April 24- Fisker Automotive Inc, which has not built a vehicle since July, has the potential to succeed and repay nearly $200 million in government loans if the "green" car maker is able to find the right "financial and strategic resources," according to former CEO Henrik Fisker.
DETROIT, April 23- Johnson Controls Inc on Tuesday posted a profit that met Wall Street's expectations and the largest U.S. auto-parts maker reaffirmed its full-year outlook. Net income attributable to Johnson Controls fell to $148 million, or 21 cents a share, in its fiscal second quarter, compared with $379 million, or 55 cents a share, in the year- earlier quarter.
Checking a vehicle's brake pads and rotors might sound difficult, but according to Flat 12 Gallery's technician, Eric Ables, one of the stars of CNBC Prime's "The Car Chasers," it's pretty simple.
STUTTGART, Germany, April 18- Germany's Bosch, one of the world's biggest auto parts suppliers, said sales were subdued in the first quarter, reflecting a stagnant European economy.
The factory is operated by Somaca, a venture which is majority owned by the Moroccan arm of French car maker Renault. Somaca produced 60,000 cars in 2012 under the Renault and Dacia brand names. Now it is making a new version of the Sandero, a small, low-cost sedan from Dacia, the Romanian unit of Renault.