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General Motors and Chrysler are offering blue-collar employees another round of buyout and early retirement offers as the automakers try to cut their work forces and reduce expenses, union officials said.
A closer look at the huge package of spending measures and tax cuts shows that many special items still got inserted into the measure
Somali pirates hijacked a German tanker loaded with liquefied petroleum gas Thursday off the Horn of Africa. The ship's 13-man crew was reported safe even though gunshots were heard over the ship's radio.
The United Auto Workers will suspend its jobs bank program at General Motors next Monday, CNBC confirmed.
The rally on the Dow Jones Transportation Index will fail and a long-term downturn can be expected for the index, Roelof Van den Akker, chartist at ING Wholesale Banking said Tuesday.
General Motors said in a Securities and Exchange Commission filing Friday that it used the proceeds of an $884 million Treasury department loan to increase its equity stake in its financing arm to about 60 percent.
UAL, parent of United Airlines, Wednesday said its quarterly net loss widened on erosion in the value of its fuel hedge program as oil prices plummeted.
General Motors sold fewer cars globally than Toyota last year, as the Japanese automaker passed the Detroit company for the first time.
The target date for General Motors to get its second installment of government loans passed last week, but a top company executive says he expects the money to arrive in the next several days.
If Warren Buffett liked Burlington Northern Santa Fe in the high $70s, he must love it in the low $60s. Buffett's Berkshire Hathaway reports in an SEC filing tonight that it bought almost 4.4 million shares in the freight railroad over the last three trading days at prices between $61.65 and $63.43.
All passengers on a U.S. Airways jet that crashed into the frigid waters of the Hudson River off New York City on Thursday have been safely removed from the plane, according to the Federal Aviation Administration.
There is at least one stock, though, that Cramer thinks is worth buying.
The automobile industry may be rolling out electric cars in attempt to save their companies, but consumers have no incentive to buy the cars if an energy policy and a gas tax are not implemented soon, said Mike Jackson, CEO of AutoNation.
European aerospace group EADS said on Tuesday it had abandoned a "significant" defense acquisition in the United States to conserve cash and prop up Airbus plane sales to crisis-hit airlines.
Top executives at Ford Motor and General Motors stressed that the fortunes of automakers will depend on a turnaround in the economy and consumer confidence in particular.
Just weeks after ending a year marked by dismal sales and a federal bailout of General Motors and Chrysler, U.S. automakers Sunday touted new products with a focus on fuel efficiency that they say will help ensure that their cars and trucks will roll off assembly lines for years to come.
Boeing, the world's second-largest airplane maker, is planning to cut about 3 percent of its work force as jetliner demand falls, hurt by the global economic downturn.
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Standard & Poor's Ratings Services and Moody's Investors Service downgraded ratings for Chrysler and Ford Motor.
Alan Mulally, CEO of Ford Motor, said he sees signs that the auto market has stabilized and hopes for an industry recovery in the second half of 2009.