KUALA LUMPUR, Malaysia— Malaysia Airlines on Friday said its loss widened last quarter and apologized for a promotional tweet slammed as insensitive after two deadly passenger jet disasters this year. The airline's business has suffered after a Malaysia Airlines jet with 239 people on board, mostly from China, went missing March 8 while en route to Beijing.» Read More
The auto task force, lead by Steven Rattner, wants GM to emerge with as little debt as possible once the restructuring process is done, according to numerous sources familiar with the situation.
Aggressive price cuts and a lack of good-quality used cars has sent the price of some new autos below their second-hand equivalents, the Financial Times reported Thursday.
Chrysler is working hard to complete a deal with Fiat, but is also prepared if the deal doesn't go through, Vice Chairman and President Jim Press told CNBC Wednesday.
There should be no military action by any nation to assist cargo ships hijacked by pirates. Why? Because that would be using a nation’s resources to assist an industry that invites and encourages pirates to do what they do by paying them ransom money.
It sounds crazy: Just a week after the White House scolded Chrysler LLC for relying too much on gas guzzlers, the company is heading to a marquee auto show Wednesday to unveil a new SUV.
Motorcycle maker Harley-Davidson says its chief executive is retiring and will be replaced by an executive from car battery and interior maker Johnson Controls.
March sales fell sharply for General Motors, Ford Motor and Chrysler, but not as much as industry analysts had feared for any of the companies. Sales of Japanese automobiles also fell, though less steeply than they did for U.S. automakers.
Automakers were set to release their March U.S. vehicles sales on Tuesday amid continued uncertainty about the future of U.S.-based car makers.
The president's position on GM has not changed since Monday, a senior administration official said when asked to comment on a Bloomberg report which said Obama had determined a prepackaged bankruptcy was the best way for GM to restructure.
General Motors's new CEO, Fritz Henderson, said the automaker could file for bankruptcy before the end of the 60 days the government has given GM to restructure itself.
Ford Motor says it is offering a payment protection plan to help reassure consumers who may be putting off a car purchase because of worries about losing their job.
The White House's auto task force thinks that GM's latest offers to bond holders and auto workers will leave the company with too much debt and want the terms reduced even further, CNBC has learned.
President Obama asserted unprecedented government control over the auto industry, rejecting turnaround plans from GM and Chrysler and raising the prospect of controlled bankruptcy.
A look at the Obama administration's plan for General Motors and Chrysler:
Wagoner's resignation comes as the company awaits president Barack Obama's reports on efforts to save GM and Chrysler.
An offer from GM is a "first shot, a starting point" for negotiations, said a GM bondholder told CNBC, but "there’s great disparity between the bondholders versus labor."
GM bondholders sent a letter to Treasury Secretary Timothy Geithner and the leaders of the auto task force Sunday expressing frustration that they have received no response from either GM or the auto task force regarding their suggestions for a near $28 billion debt exchange.
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Thursday's Dow declines make sense, Cramer says. Here's why.
British luxury carmaker Jaguar surged to the top of J.D. Power and Associates' closely watched vehicle dependability study this year, tying Buick for the No. 1 spot and dethroning Lexus for the first time since the Japanese luxury brand has been a part of the survey.