MUMBAI, May 24- Fewer auspicious days later this year compelled Ramesh Phalke, an auto company employee in India's Maharashtra state, to hold his daughter's wedding in May. Gold is an essential part of the bride's dowry in India and also a popular gift from family and guests at weddings. "Jewellery demand could drop by 30 percent in the second half due to fewer...» Read More
Stocks fell flat as investors grew more confident that the government will stabilize the battered financial sector, but technology remained weak.
The man many thought would be "Car Czar" will now be leading the task force looking at how to fix General Motors and Chrysler. Steven Rattner is joining the Obama team as counselor to Treasury Secretary Timothy Geithner.
With the UAW and Ford announcing they have agreed on a plan to re-work funding of union's Voluntary Employee Beneficiary Association, it is an important step not only for Ford, but GM and Chrysler as well.
When I woke this morning and surveyed what the morning papers carried about the auto industry, one article in the Detroit News about what cars the Obama Auto Team members own caught my attention -- It brings up the question: Will the cars these members drive influence their decisions regarding GM and Chrysler?
US stock index futures pointed to a higher open Monday as shares of Citigroup soared over 25 percent in pre-market trading, following reports the government could up its stake in the Wall Street giant.
Halfway through the trading day, GM shares hit levels not seen since 1938....A lot investors are starting to wonder if GM stock is worthless.
The Presidential Automotive Task Force is meeting today, and there is no shortage of advice for them from the Street.
When President Obama’s Auto Team meets for the first time Friday morning, it will be off camera, behind closed doors, away from reporters. Maybe that's good. After all, fixing this industry could be messy, very messy.
It appears GM will need more money from the Obama administration to stay afloat. A lot more money. What's the trade?
Saturn owners are getting an e-mail today that essentially tells them their beloved brand is not going to die.
Businesses filing for bankruptcy need loans to work out their troubles, or face liquidation. But General Motors and its smaller rival, Chrysler, have threatened that they will need $125 billion, in what would be the largest bankruptcy financing packages ever, if they do not receive the additional federal aid they are requesting.
GM says that by the end of March it will reach a decision to either sell the brand or phase it out. My gut, based on talking with people in GM and the industry, is HUMMER is sold, but for far, far less than what GM wants.
The deepening recession is hitting car dealerships hard. That's good news if you're in the market for a new set of wheels.
Wall Street talking heads got you baffled? Cramer debunks 10 myths to help you separate fact from fiction.
Stocks limped to the finish line Wednesday as broad strokes on the bank plan from Bernanke failed to comfort the market.
Brian Moody of Edmunds.com has the three steps to take if you can’t afford your monthly car payments.
GM CEO Richard Wagoner, Jr., says taking a conservative view of the future sent him back to the government to ask for more money.
Yes, the numbers are staggering. Anytime a company says it may need up to another $16.5 Billion to fix its business, there's no way to sugar coat it.
Futures pointed higher Wednesday as investors looked to scoop up some bargains after the previous session's selloff and shrugged off another dismal housing data point.
The brand that was once hailed as an important part of the future of General Motors now will be part of its past.