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Stocks were flat Monday as the market was buzzing about an emergency rate cut.
It was all about beautiful cars and gorgeous girls as CNBC took to the ground for the 78th Geneva Motor Show, where automakers revealed their latest models, concept cars and technical and environmental innovations for 2008.
American Axle & Manufacturing Holdings said Wednesday it plans to return to the bargaining table with striking workers, signaling movement in a strike that has shuttered plants and cut vehicle production at General Motors.
Here's something that should make you realize what crazy times we are living in: 9-year auto loans are popping up around the country. That's right, it wasn't a typo. Nine years! 108 months! Almost a third of the time used to pay off a conventional mortgage!
General Motors said Tuesday it will close a seventh facility next week as the impact from a strike against American Axle & Manufacturing continues to widen for the No. 1 U.S. automaker.
Amid the gloomy comments from auto executives at the Geneva Motor Show, the unveilings of several important new models are being overshadowed. Take the new Ford Fiesta. This compact car is being sold in Europe, but the design cues and architecture behind this car will be the underpinnings of compact cars the automaker will roll out in the U.S. in the future.
The Dow closed lower, while the market absorbed another run higher for crude oil prices and weak data on manufacturing and construction. What the word on the Street?
Stocks recovered from earlier losses to finish flat Monday in a volatile session riddled with weak economic data, big auto-sales declines and concerns about more fallout from the housing slump.
GM and Ford reported double-digit U.S. sales declines in February in the face of a slumping economy and high gas prices.
We knew they would be bad, and they were. In fact, February auto sales make it clear, the consumer is tired, nervous, worried: you-fill-in-the-adjective. Look at the numbers: GM down 16.7 percent (including trucks down more than 22 percent)
Stocks turned mixed Monday after Ford turned in better-than-expected sales results and announced layoffs.
Ford Motor said Monday it would eliminate shifts at four U.S. plants and lay off some 2,500 workers -- or almost 5 percent of its remaining work force -- as part of an effort to cut costs and return to profitability next year.
Wall Street looks set to start the week in negative territory as stock index futures pointed lower on renewed fears for the fate of the economy.
Usually, when the United Auto Workers strike it's pretty big news. Usually, when the picket lines form, Detroit gets nervous. Usually, when the rhetoric heats up, so do the heart rates of executives running the Big 3. Not this time.
OK, it's not as if HUMMER needs our sympathy. The folks running GM's supersized SUV line know they are fighting an uphill battle, trying to grow sales, expand the line-up, and shift HUMMER's image in the face of rising gas prices. But this is HUMMER, even if the execs there feel overmatched, they won't admit it. Nor should they.
As of Friday, 441 (just under 90%) of the S&P 500 companies have reported earnings. Here's a look at which companies have had the biggest surprises so far...
What's your next move as crude hovers near $100 and gold and platinum hit new highs?
Stocks reversed what had been a down session Friday, with the Dow Jones Industrial Average rising on a CNBC report that progress is being made on a recapitalization plan that could save troubled bond insurer Ambac Financial's triple-A rating.
At a time when metals have been the hottest properties on the sizzling commodities markets, platinum has emerged as the flavor of the month, with prices hitting historic highs and some analysts projecting more spikes to come.
Standard & Poor's on Friday cut its credit ratings on GMAC, the auto-financing business owned by Cerberus Capital Management and General Motors, and mortgage unit Residential Capital.