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Automobiles and Components

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  • DETROIT, July 16- German automaker BMW said on Wednesday it is recalling about 1.6 million cars worldwide to replace passenger-side front air bags made by Takata Corp because the inflators could break apart during deployment and injure passengers.

  • *Strike has forced Toyota, GM, Ford to halt production. CAPE TOWN, July 16- South Africa's main manufacturing union, NUMSA, said it has agreed a plan of action to intensify a three-week strike over pay that has hit car makers and construction companies.

  • Tesla names small car to be launched in 2017 'Model 3' Wednesday, 16 Jul 2014 | 12:19 PM ET

    DETROIT, July 16- Tesla Motors Inc said on Wednesday it will name its planned small car, intended to move the electric car maker into a broader consumer segment, the Model 3.. The vehicle will go on sale in 2017 and compete with BMW's 3 Series sedans. Musk has also said the new vehicle will be about the same size as the BMW 3 Series.

  • AP Top Extended Financial Headlines At 11:29 a.m. EDT Wednesday, 16 Jul 2014 | 11:29 AM ET

    Murdoch's Twenty-First Century Fox says Time Warner rebuffed takeover bid; Worth about $76 B US stocks rise in early morning trading on earnings reports; Time Warner soars on Murdoch bid Confidence among US homebuilders surges as sales outlook for single-family homes improves Younger Americans wait to buy homes because of changes in marital status, education and race Bank of America's income falls, takes $4 billion of litigation costs; Settles with AIG US factory output rises for 5th straight month in June, boosting economy after dismal 1 Q US producer prices up 0.4 percent in June on rising gas costs; overall inflation still mild Foreign holdings of US Treasury rise in May; China ups holdings for first time since January BMW recalls 1.6 M 3- Series cars to fix air bag problem that's affecting global auto industry Italy's Gtech buying slot machine maker International Game Tech for $4.7 B in cash and stock

  • DETROIT/ FRANKFURT, July 16- German automaker BMW said on Wednesday it is recalling about 1.6 million cars worldwide to replace passenger-side front airbags made by Takata Corp because the inflators could break apart during deployment and injure passengers.

  • AP Top Extended Financial Headlines At 9:06 a.m. EDT Wednesday, 16 Jul 2014 | 9:06 AM ET

    Murdoch's Twenty-First Century Fox confirms Time Warner rebuffed its acquisition bid US producer prices up 0.4 percent in June on rising gas costs; overall inflation still mild Younger Americans wait to buy homes because of changes in marital status, education and race Italy's Gtech buying slot machine maker International Game Tech for $4.7 B in cash and stock Bank of America's income falls, takes $4 billion of litigation costs; Settles with AIG BMW recalls 1.6 M 3- Series cars to fix air bag problem that's affecting global auto industry France battles against industrial restaurant food, by defining' home-made' China's economic growth rises to 7.5 percent, adding to signs of possible recovery Improvement in China's growth reassuring but no game changer for region it looms over Higher factory, mining output likely boosted US industrial production in June

  • BMW recalls 1.6M 3-Series cars for air bag problem Wednesday, 16 Jul 2014 | 8:43 AM ET

    DETROIT— BMW is expanding a recall of its most popular models to fix an air bag problem that is hitting much of the global auto industry. Air bag inflators in systems made by Takata Corp. can rupture. The problem is responsible for millions of recalled vehicles during the past few years made by manufacturers such as Chrysler, Ford, Honda, Mazda, Nissan and Toyota.

  • Tumbling car sales in Russia dampen fanfare for new sedan Wednesday, 16 Jul 2014 | 8:18 AM ET

    TOGLIATTI, Russia, July 16- To the pounding beat of house music and a triumphant trip down memory lane, the launch of Datsun's on-Do family sedan at Russia's largest automaker on Monday was hailed as a sure success.

  • VW to spend $900M at Tennessee plant on new SUV Tuesday, 15 Jul 2014 | 1:40 AM ET

    Volkswagen will spend $900 million to build a mid-sized SUV at its U.S. plant in Tennessee.

  • WASHINGTON, July 14- Leaders of the U.S. energy and rail sectors have agreed to toughen tanker cars for future oil train cargo and to a schedule to retire older model cars that regulators have deemed unsafe, said two industry sources familiar with the plan. The Transportation Department is expected to outline that safety plan before the end of the month.

  • Citigroup and Mylan are big market movers Monday, 14 Jul 2014 | 4:57 PM ET

    NEW YORK— Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and the Nasdaq Stock Market:. Kodiak Oil& Gas Corp., up 68 cents to $14.91. URS Corp., up $6.38 to $58.40.

  • *Citigroup to pay $7 bln to settle U.S. mortgage probe. NEW YORK, July 14- U.S. stocks ended higher on Monday, with the Dow Jones industrial average hitting an intraday record, lifted by Citigroup's better-than-expected earnings and more deals in the healthcare space. Citigroup Inc shares jumped 3 percent to $48.42 and gave the S&P 500 one of its biggest boosts.

  • *VW declines comment on incentives from Tennessee. July 14- Volkswagen AG said on Monday it would invest about $900 million to build a mid-sized SUV at its U.S. plant in Tennessee starting in late 2016, nearly doubling the factory's work force. About $600 million of the $900 million will be invested in Tennessee, VW said.

  • VW to build new SUV in Tennessee, add 2,000 jobs Monday, 14 Jul 2014 | 9:09 AM ET

    NASHVILLE, Tenn.— Volkswagen plans to build a new seven-passenger SUV at its factory in Chattanooga, Tennessee, adding about 2,000 factory jobs as it tries to reverse U.S. sales that have fallen for the past two years.

  • July 14- Volkswagen AG said on Monday it would invest about $900 million to build a mid-sized SUV at its U.S. plant in Tennessee starting in late 2016, nearly doubling the factory's work force. About $600 million of the $900 million will be invested in Tennessee, VW said.

  • Auto supplier in Tenn. adding 230 jobs. Monday, 14 Jul 2014 | 4:01 AM ET

    GALLATIN, Tenn.— An auto supplier is expanding its Gallatin, Tennessee plant and adding more jobs to keep up with demand. ABC Group Inc. says it will invest $25.5 million in land, infrastructure and equipment and create more jobs in Sumner County over the next five years.

  • HONG KONG, July 14- China shares posted their best daily gain in a month on Monday as carmakers extended recent gains after the government announced a fresh boost for the sector. The Shanghai Composite Index ended up 1 percent at 2,066.65 points, a four-week high, while the CSI300 of the leading Shanghai and Shenzhen A-share listings climbed 1.1 percent.

  • BANGALORE, July 14- Naveen Rabelli's tuk-tuk broke down the first time he rolled it out of his garage. The electrical engineer didn't lose heart: now, he plans to drive his customized three-wheeler all the way to London.

  • NEW YORK, July 14- Federal prosecutors are developing a criminal fraud case hinged on whether General Motors made misleading statements about a deadly ignition switch flaw, and are examining activity dating back a decade, before GM's 2009 bankruptcy, according to multiple sources familiar with the investigation.

  • HONG KONG, July 14- Hong Kong shares rose on Monday with China's three state-owned wireless carriers leading gains, while mainland markets were also stronger as auto stocks extended their advance on new policy support. The Hang Seng Index and the China Enterprises Index of the top Chinese listings in Hong Kong each added 0.4 percent.