A confluence of economic factors are setting the scene for a strong Memorial Day Weekend in the auto industry.» Read More
Chief Execs of the Big Three automakers headed to the White House today to discuss the latest advances in alternative fuel technology with President Bush. Their focus: Bush’s support for alternative fuel vehicles and his plan to cut gas consumption by 20% in ten years.
DaimlerChrysler shares gained sharply on Friday on speculation that the German automaker could be nearing a deal to sell struggling U.S. unit Chrysler.
After a stellar week for Wall Street, investors this week face a barrage of economic data, testimony from Fed Chairman Ben Bernanke and a worrisome war of words with Iran.
Toyota Motor is creating U.S. jobs, making friends in Washington and leading in fuel-saving technology, yet will not be at the table when President George W. Bush meets major automakers to talk energy policy on Monday
Stocks closed slightly higher Friday, finishing a week with gains of more than 3% in major market indices. "I like to see this pretty tight trading range; the fact that we've been able to hold on to these gains is healthy," Craig Columbus, chief market strategist at Advanced Equities Asset Management, told CNBC.com.
Stocks are edging higher ahead of the opening. Existing home sales data at 10 am New York time could influence direction but for now investors face a flurry of Friday morning corporate news headlines.
For the first time since 2003, General Motors is giving bonuses in the form of stock to Chairman and Chief Executive Rick Wagoner and other top executives.
Chrysler CEO Tom LaSorda told a small group of auto dealers that the sale of the money-losing automaker could be resolved soon, The Wall Street Journal reported Thursday.
President George W. Bush will meet next week with the chief executives from Detroit's largest automakers, the White House said on Wednesday.
The report over the weekend that former Chrysler COO Wolfgang Bernhard has joined Cerberus Capital as an advisor as that firm pursues buying Chrysler shows the value of the beleaguered American automaker. For all it's problems- and there are numerous ones including a reported $18 Billion in legacy costs- Chrysler is still an attractive asset. It's the 4th largest automaker in the world's largest market.
Employee members of DaimlerChrysler's supervisory board plan to oppose a sale of Chrysler Group to a private equity firm that would lead to a breakup of the automaker, according to published reports.
Confronted with congressional concerns about global warming, the leaders of the U.S. auto industry are highlighting their work to develop alternative vehicles and asserting that the burdens of climate change cannot fall to one industry alone.
Cerberus Capital Management's potential bid for DaimlerChrysler's Chrysler unit gained a boost as Wolfgang Bernhard, the restructuring expert who helped to turn around Chrysler five years ago, signed an advisory contract with the group, according to a report in the Financial Times.
Stocks index futures are slumping ahead of the opening as news from the subprime mortgage world continues to flow. February retail sales data and an earnings report from Goldman Sachs GS could influence direction. European markets are weaker and CNBC Europe reports that worries about U.S. subprime lenders are creeping up there. Asian markets were mostly lower, dragged down by a rising yen.
The pace of activity around a possible sale of DaimlerChrysler's Chrysler Group is accelerating, after several potential buyers met with management before presenting preliminary offers by the end of the month, The Wall Street Journal reported.
Chrysler Group said it would recall almost half a million vehicles, including recent models of the Jeep Liberty and Dodge Durango after reported fires and its new Dodge Avenger sedan because of faulty door latches.
CEO Frank Stronach said it was vital that Magna be involved in a possible sale of Chrysler to protect itself and help its biggest customer, the Globe and Mail reported.
The 77th International Auto Show in Geneva, Switzerland this year will no doubt be remembered by the presence of automakers exhibiting alternative powered technology.
Cult cars emerge regardless of marketing efforts and BMW's MINI is on the verge of joining the Ford Mustang and a select group of other autos that captured the imagination of car lovers.
While representatives from two private equity firms meet with Chrysler executives outside Detroit this week, there will be plenty of speculation about what it would take for them to bid on the American automaker.