NEW DELHI, July 25- Software engineer Sanjay Bhatnagar used to watch a new Bollywood movie every week with his family, but now goes to the cinema once a month as spiraling costs of food and other staples eat into his budget for non-essentials.» Read More
CNBC's Phil LeBeau reports the earnings from General Motors, Ford, American Airlines and Southwest.
MILAN/ LONDON, July 24- PSA Peugeot Citroen and Fiat Chrysler denied a Financial Times report on Thursday that the companies were preparing a merger to create the world's fifth-largest carmaker.
CNBC's Phil LeBeau speaks to Bob Shanks, Ford Motor Company CFO, about the automaker's better-than-expected profits and performance in Europe.
CNBC's Phil LeBeau breaks down the quarterly performance of General Motors and Ford Motor Company. LeBeau says Ford reported a record $2.44 billion quarterly profit in North America.
CNBC's Phil LeBeau talks with General Motors CFO Chuck Stevens about GM's Q2 results and the $400 million fund the company set aside for the ignition switch recall. Ultimately the cost of the program will be independently determined by Ken Feinberg, says Stevens.
DETROIT— Recall expenses chopped $1.5 billion from General Motors' bottom line in the second quarter, as it added up the costs of repairs for nearly 30 million cars and set aside funds to compensate victims of small-car crashes. Without one-time items GM would have made 58 cents per share, equaling Wall Street's expectations, according to data provider FactSet.
CNBC's Phil LeBeau takes a look at General Motor's quarterly numbers, which came in shy on earnings and revenues.
LONDON, July 24- Luxury carmaker Bentley, part of Germany's Volkswagen, expects to increase sales volumes this year by less than previously forecast, Chief Executive Wolfgang Duerheimer said on Thursday.
What's hurting Hyundai is helping Detroit, says Paul Ingrassia, Reuters managing editor, sharing his thoughts on Ford's better-than-expected earnings, and providing an outlook on the auto industry.
CNBC's Phil LeBeau breaks down the automaker's Q2 results of EPS $0.40 ex-items on revenues of $35.3 billion.
Itay Michaeli, auto analyst at Citi, discusses General Motors (GM) and Ford ahead of their quarterly results. He says GM's outlook for the rest of the year should be pretty positive on the back of strong U.S. results.
Despite selling more cars, Hyundai said its bottom line was hit by the sharp rise of the South Korean won. Those two models have been popular in South Korea, helping Hyundai win back some ground after taking a hit last year from greater available of foreign cars.
General Motors announced on Wednesday six more safety recalls on 717,950 U.S. vehicles.
DETROIT— General Motors issued six more recalls on Wednesday, bringing its annual total to 60 recalls covering almost 30 million vehicles.
The Stuttgart- based maker of cars and trucks has been trying to bounce back after rival Audi eclipsed Mercedes in 2011 as the world's second biggest luxury car maker behind BMW.
*Investors keeping wary eye on Ukraine crisis. LONDON, July 23- Higher profits at carmaker Daimler and chemicals group Akzo Nobel lifted European shares on Wednesday, offsetting concerns about tighter Western sanctions on Russia over the Ukraine crisis.
OTTAWA, July 23- Strong car sales helped push Canadian retail trade up by 0.7 percent in May to C $41.98 billion, eclipsing April's record sales, Statistics Canada reported on Wednesday. Sales by motor vehicle and parts dealers, which account for just under one quarter of total retail sales, were up 2.5 percent.
*Investors keeping wary eye on Ukraine crisis. LONDON, July 23- Forecast-beating earnings from carmaker Daimler and chemicals group Akzo Nobel lifted European shares on Wednesday, offsetting concerns about a ramping up of sanctions against Russia over the Ukraine crisis.
BERLIN— Automaker Daimler AG reported a 6 percent increase in second-quarter revenue and confirmed its full-year targets on Wednesday as new models and cost-cutting efforts helped its performance, though net profit declined sharply after a big one-time gain last year.
MEXICO CITY, July 22- South Korean automaker Kia Motors Corp is in talks with Mexico to open a new auto plant worth at least $1.5 billion, officials from Nuevo Leon's state government said on Tuesday.