CLEVELAND— The U.S. Justice Department says a Japanese auto parts manufacturer has agreed to pay a $26 million fine and plead guilty to fixing prices and rigging bids for various parts sold to automakers in the U.S.» Read More
To understand how General Motors failed to address major safety problems, you have to examine the culture there before Mary Barra became CEO.
When a major recall is announced, dealerships find themselves on the commercial front lines.
May 15- Auto parts retailer Advance Auto Parts Inc reported a 21 percent rise in quarterly profit, helped by the acquisition of the biggest operator of the Carquest chain of auto repair shops and car parts stores.
*Full-year NAV per share 348 pence vs forecast 332-344 p. LONDON, May 14- British private equity firm 3 i will stay away from bid battles and expensive deals, as it seeks to learn from past mistakes when investing a planned 500 million pounds in mid-sized businesses over the coming years.
May 8- Canadian auto parts maker Magna International said quarterly net profit rose nearly 7 percent as demand improved in North America and Europe, and the company raised its production sales forecast for the regions.
May 8- Auto parts maker Visteon Corp reported a 7 percent rise in quarterly revenue as higher vehicle production boosted sales of its climate control products. Visteon did not give its own estimate on Thursday, but said higher production, particularly in Asia Pacific and Europe, boosted sales of its climate control products in the first quarter ended March 31.
May 8- Auto parts maker Visteon Corp reported a rise in quarterly revenue as higher vehicle production boosted sales of its climate control products. Revenue in the business rose by $40 million to $1.3 billion in the first quarter ended March 31. Total revenue rose 7 percent to $1.98 billion.
OSLO, May 8- Norway's energy boom is tailing off years ahead of expectations, exposing an economy unprepared for life after oil and threatening the long-term viability of the world's most generous welfare model.
*Bulgaria exports doubled in five years. *Bulgaria hopes to undercut European competitors. RUSE, Bulgaria, May 7- In its glory days, Ruse, a town along the Danube river trading route, was a thriving economic hub that was home to Bulgaria's first chamber of commerce and known as' little Vienna' for its Austrian-style buildings.
May 2- Auto parts maker Visteon Corp said it would sell most of its automotive interiors business to private equity firm Cerberus Capital Management LP as it focuses on its fast-growing climate control and electronics operations.
May 2- Auto parts maker Visteon Corp said it would sell a majority of its automotive interiors business to private equity firm Cerberus Capital Management LP. The sale price was not disclosed. The operations, which had revenue of about $1 billion in 2013, make products such as instrument and door panels.
FRANKFURT, April 30- Germany's Robert Bosch expects sales growth of between 3 and 5 percent this year, even as the automotive supplier shifts its focus toward Asian markets and developing internet-connected sensors.
April 29- Auto parts maker Delphi Automotive Plc is reviewing potential violations of the U.S. Foreign Corrupt Practices Act linked to payments made by employees in China, the company disclosed in a regulatory filing. Delphi said it has disclosed these matters to the U.S. Department of Justice and the SEC and is cooperating fully with the agencies.
April 29- Auto parts supplier TRW Automotive Holdings Corp reported better-than-expected quarterly results, driven by a 16 percent rise in sales in China, and the company also raised its full-year revenue forecast.
*Q1 adj shr $1.84 vs est $1.70. Production was up 6 percent in North America and 7 percent in Europe and Africa, Lear said. Ford Motor Co, General Motors Co and BMW AG are Lear's largest customers and made up about 54 percent of its sales in 2013..
April 25- Lear Corp, a maker of auto seats and electrical power systems, posted a 12 percent rise in quarterly profit, driven by an increase in global vehicle production. Net income attributable to Lear rose to $122 million, or $1.47 per share, in the first quarter ended March 29 from $108.5 million, or $1.13 per share, a year earlier.
DETROIT, April 24- Parts supplier Delphi Automotive Plc Chief Executive Officer Rodney O'Neal declined on Thursday to discuss costs related to the General Motors Co ignition switch recall. Delphi produced the ignition switches involved in the recall of 2.6 million GM vehicles that have been linked to at least 13 deaths.
April 24- Auto parts maker Delphi Automotive Plc reported a better-than-expected quarterly profit, helped by strong demand in Asia and North America, and raised its 2014 earnings outlook. The company said it now expects 2014 adjusted earnings between $4.80 and $5.00, up from its previous forecast of between $4.70 and $4.95 a share.
April 24- Auto parts maker Delphi Automotive Plc reported a 16 percent rise in quarterly profit, helped by strong demand in Asia and North America, and raised its 2014 earnings outlook. The net income attributable to Delphi rose to $320 million, or $1.04 a share, for the first quarter ended March 31, from $276 million, or $0.88 a share, in the year earlier period.
*Sees 2nd- qtr revenue $3.14 bln- $3.40 bln vs est $3.15 bln. April 23- Chipmaker Texas Instruments Inc's first-quarter revenue and second-quarter revenue forecast topped analysts' estimates on growing demand for its chips used in communication equipment, industrial machines and automotive parts.