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Auto Parts and Equipment

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  • European shares rebound as auto stocks rally Wednesday, 9 Apr 2014 | 10:09 AM ET

    *Bernstein upgrades lift Porsche and Volkswagen. The STOXX Europe 600 Automobile& Auto Parts Index was the best-performing equity sector in Europe, rising 1.3 percent as Volkswagen and Porsche both benefited from an upgrade by the brokerage Bernstein. Bernstein raised its rating on Porsche and Volkswagen to "outperform" from "market perform".

  • US stocks rally on Fed minutes, earnings news Wednesday, 9 Apr 2014 | 9:16 AM ET

    NEW YORK— Once again, it was the Federal Reserve to the rescue for the stock market. Facebook rose the most in the S&P 500, jumping 7.3 percent, followed closely by biotech company Vertex Pharmaceuticals, up 7 percent.

  • *Rea to propose five nominees to Martinrea's board. *Martinrea's stock has underperformed peers. Rea Holdings, a Toronto- based holding company controlled by Nat Rea, a former president and deputy chairman of Martinrea, said on Thursday it intends to propose five nominees for election to the board, setting the stage for a proxy battle.

  • *Reuters/ Ipsos poll: 67 pct want tougher U.S. auto regulation. WASHINGTON, March 25- U.S. lawmakers are considering calling on former General Motors Co executives and employees from parts supplier Delphi Automotive to testify as they cast a wide net in their probe of GM's recall of 1.6 million vehicles with potentially lethal ignition-switch problems.

  • BRUSSELS, March 25- EU competition regulators have raided several car parts makers involved in producing vehicle exhaust systems, including French firm Faurecia, Germany's Eberspaecher Group and TenneCo of the United States, as part of a wider probe into suspected price fixing in the auto industry.

  • BRUSSELS, March 25- European Union antitrust regulators raided French car parts makers Faurecia and several other auto exhaust systems makers on Tuesday, the latest crackdown against suspected price-fixing in the auto industry. Faurecia, which is 52- percent owned by French carmaker Peugeot Citroen, confirmed the EU raids.

  • German company can 3-D print a car Wednesday, 19 Mar 2014 | 11:55 AM ET
    EDAG Genesis

    Wired Magazine reports that German engineering firm EGAD has a design for 3-D printed the frame of a car.

  • UPDATE 3-China launches private bank pilot programme Tuesday, 11 Mar 2014 | 5:56 AM ET

    BEIJING, March 11- China will launch pilot programmes testing the development of privately-owned banks in Tianjin, Shanghai, Zhejiang and Guangdong, the country's bank regulator Shang Fulin said on Tuesday.

  • *Continental to pay higher 2013 dividend of 2.50 euros. FRANKFURT, March 6- German auto parts and tyre maker Continental is considering further acquisitions, weeks after announcing the purchase of U.S. rubber firm Veyance Technologies for 1.4 billion euros.

  • March 4- AutoZone Inc, the second-largest U.S. auto parts retailer, reported quarterly results that beat analysts' estimates as a severe winter led to more wear and tear on vehicles. AutoZone shares rose more than 3 percent in premarket trading.

  • March 4- Autozone Inc, a U.S. auto parts retailer, reported a 9.4 percent increase in second-quarter profit as an unseasonably cold winter drove up sales. Net income rose to $192.8 million, or $5.63 cents per share, from $176.3 million, or $4.78 per share, a year earlier. Autozone shares were up 1 percent in premarket trading.

  • Toronto, March 3- Magna International Inc, one of the world's largest auto parts suppliers, said on Monday that quarterly profit jumped 31 percent, driven by a pickup in North America and Europe, and hiked its dividend.

  • March 3- Canada's Magna International Inc, one of the world's largest auto parts suppliers, posted a 31 percent jump in quarterly profit due to a pickup in vehicle production in North America and Europe, and the company raised its dividend.

  • March 3- Senior Plc, a maker of aircraft parts and auto components, said it expects higher demand in 2014, as big customers Airbus Group NV and Boeing Co look to ramp-up production. Airbus, earlier known as EADS, said last month that it intends to increase production of its jetliners- in stride with arch-rival Boeing's plans.

  • March 3- Canada's Magna International Inc, one of the world's largest auto parts suppliers, posted a 31 percent jump in quarterly profit and raised its dividend. Magna said net income attributable to the company rose to $458 million, or $2.03 per share, in the fourth quarter ended Dec. 31 from $351 million, or $1.49 per share, a year earlier.

  • Feb 25- Visteon Corp, the auto parts maker, posted a stronger-than-expected quarterly profit on Tuesday and reaffirmed its forecasts for 2014, sending its shares up in morning trading. Net income surged to $513 million, or $10.32 a share, in the fourth quarter, compared with $39 million, or 74 cents a share, in the year earlier period.

  • Feb 25- Visteon Corp, the auto parts maker, on Tuesday posted a stronger-than-expected quarterly profit and reaffirmed its 2014 financial projections. Net income surged to $513 million, or $10.32 a share, in the fourth quarter, compared with $39 million, or 74 cents a share, in the year earlier period.

  • *New plants possible in Delaware and Michigan. BEIJING Feb 24- U.S.-based Fisker Automotive, which has been acquired by China's largest auto parts company, plans to restart production of its Karma plug-in hybrid luxury car "within a year" and will also complete the half-finished development of a second model, according to a senior executive.

  • TORONTO, Feb 20- Panasonic Corp has been fined C $4.7 million for rigging bids to supply equipment for Toyota Motor Corp cars made in Canada, the country's Competition Bureau said on Thursday.

  • SHANGHAI/ BEIJING, Dec 5- China's monopolies regulator has been collecting evidence of possible anti-competitive behaviour in the country's auto parts market, it said on Wednesday.

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