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.» Read More
The news pushed Magna stock up more than 4 percent to a record high of C $92.75 on the Toronto Stock Exchange, and to $87.29 in New York, also a record. Magna, which has been working to turn around inefficient operations in Europe amid a lackluster recovery in the region, raised the low end of its production sales outlook for the year to $28.1 billion.
*3- quarter profit $1.39/ share vs estimate $1.34/ share. Nov 6- Canadian auto parts manufacturer Magna International Inc reported a nearly 13 percent rise in quarterly sales as its European business improved. In Europe, production sales jumped 18 percent to $2.36 billion.
Nov 6- Canadian auto parts manufacturer Magna International Inc reported an 18 percent drop in quarterly profit, hurt by restructuring charges. The company's net income fell to $319 million, or $1.39 per share, in the third quarter ended Sept. 30 from $390 million, or $1.66 per share, a year earlier. The charges reduced net profit by $33 million, or 14 cents per share.
NEW YORK, Nov 5- Companies that sell consumer goods, such as electronics, cars and appliances, are leading the U.S. market in earnings and share gains, but high valuations and fund managers' big weightings in the sector pose major investment risks.
It's one of the oldest tricks – selling a customer something that simply does not exist. Jeff and the Roundman offer their advice to help you avoid auto scams.
*Sony cuts full-year profit forecast after Q2 net loss. *Weak numbers stir doubts over Sony CEO Hirai's strategy. TOKYO, Oct 31- Sony Corp CEO Kazuo Hirai's determination to stick to the consumer electronics that made the company's fame will be put to the test in the months ahead as domestic rivals step up a shift to more profitable industrial technology.
TOKYO, Oct 30- Honda Motor Co said strong car sales in the United States and Japan offset a slowdown in Thailand in the three months to September, helping the Japanese carmaker post a 46 percent growth in quarterly net profit.
Oct 29- Cummins Inc, a maker of truck engines and auto parts, said it expected a fall in 2013 revenue due to weak demand for capital goods in most of its major markets. The company said engine sales fell 1 percent to $2.5 billion in the third quarter ended Sept. 29 as demand declined from the mining, stationary power, and light-duty on-highway truck markets.
FRANKFURT, Oct 28- Global engineering sales will increase 5 percent in real terms in 2014- five times as much as this year- as the Chinese market revives, the head of Germany's VDMA industry association said on Monday.
Nitrous oxide has become a go-to method to increase speed in vehicles. Many drag racers love it, but Jeff and Perry believe it is the fastest way to ruin your car.
Dearborn, Mich., Oct 21- The recent surge in U.S. auto production is hurting vehicle quality because automotive parts suppliers have less time to fix problems that emerge on the line, Ford Motor Co's new global purchasing chief told reporters on Monday. U.S. auto sales are on pace to reach 15.6 million units this year, according to J.D. Power and LMC Automotive.
DETROIT, Oct 20- The Mexican auto industry is about to go on a $10 billion factory building spree, illustrating the nation's rising economic challenge to rivals from the United States to China.
Oct 16- Advance Auto Parts Inc will buy 1,418 outlets of the Carquest chain to boost its auto repair operations to complement its car parts business, sending its shares up as much as 20 percent to a record high.
Advance Auto Parts Inc will buy General Parts International Inc for just over $2 billion, creating the largest North American retailer of auto parts.
Oct 16- Advance Auto Parts Inc will buy General Parts International Inc for just over $2 billion, creating the largest North American retailer of auto parts, as strong new car sales hit demand for repair and replacement.
Oct 16- Advance Auto Parts Inc said it would buy General Parts International Inc in a deal that values the closely held company at $2.04 billion, creating the largest automotive after-market parts provider in North America.
Oct 16- Advance Auto Parts Inc plans to buy closely held General Parts International Inc for just over $2 billion, the Wall Street Journal reported, citing people familiar with the matter. The deal, expected to be announced Wednesday, would create one of North America's largest after-market auto parts retailer, the Journal said.
Navigating an auto auction can be tricky. Jeff Allen and his father, Tom Souter, reveal the secrets to getting the best price.
NEW YORK, Oct 11- Crestview Partners is seeking a buyer for Key Safety Systems, a supplier of airbags, seatbelt systems and other car safety components that could be valued at more than $800 million, according to several people familiar with the matter.
TOKYO, Oct 10- Takata Corp will pay $71.3 million to settle antitrust charges brought by U.S. federal prosecutors over price fixing on seatbelts sold to carmakers, the Japanese auto parts maker said on Thursday. A Takata executive in the United States, Gary Walker, previously agreed to plead guilty to price fixing, Takata confirmed on Thursday.