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Volkswagen AG

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  • *BMW reaffirms targets, sees China sales growth slow. FRANKFURT, May 6- Record sales of SUVs helped German carmaker BMW AG to beat first-quarter profit forecasts, despite slowing demand growth in China. "Whilst the market has been focused on BMW's weak product momentum, poor import sales into China and overall China headlines, the company once again printed a very...

  • LAS VEGAS, May 6- Daimler has been granted a licence by the U.S. state of Nevada to test self-driving trucks on public roads, as the United States and Europe race to establish a regulatory framework for autonomous vehicles. While companies such as Google have dominated the headlines with advances in driverless cars, Daimler board member Wolfgang Bernhard told...

  • *Fiat Chrysler CEO Calls for "largescale" consolidation. MILAN/ DETROIT, April 29- Fiat Chrysler Automobiles Chief Executive Sergio Marchionne on Wednesday made a plea for shrinking the number of players in the global auto industry as the company reported lower-than-expected first quarter results and outlined new plans to boost North American profit...

  • Volkswagen profit jumps 17% on European recovery Wednesday, 29 Apr 2015 | 3:22 AM ET

    Volkswagen increased operating profit in the first quarter on cost cuts and improving European auto demand.

  • BERLIN, April 28- Record sales of luxury Mercedes-Benz cars helped Daimler to beat first-quarter earnings forecasts and close its profitability gap with German rivals BMW and Audi. Daimler's flagship Mercedes-Benz division has lagged BMW and Audi on deliveries and profitability in recent years, but demand for the revamped C-Class saloon and a growing...

  • Europe closes higher on Greek reshuffle; DAX up 1.9% Monday, 27 Apr 2015 | 11:33 AM ET

    European equities closed higher, with investor sentiment boosted by a reshuffle of the team of Greek officials that are negotiating with its creditors.

  • Volkswagen looks beyond boardroom struggle Monday, 27 Apr 2015 | 4:43 AM ET
    Volkswagen AG Chairman Martin Winterkorn speaks at the company's annual press conference to announce financial results, March 13, 2014, in Berlin.

    Volkswagen said in a statement that Ferdinand Piëch would resign as chairman of the automaker's supervisory board.

  • FRANKFURT, April 26- Ferdinand Piech's iron-fisted rule over Volkswagen helped him build an empire spanning fuel-efficient city cars to 40- tonne trucks, but in the end he overplayed his hand and was forced out before reaching his goal of making VW the world's biggest carmaker. Piech took the reins at VW's Audi in 1988 before he joined the parent company and...

  • GM misses on the top & bottom line Thursday, 23 Apr 2015 | 7:30 AM ET
    General Motors' Chevrolet logo is displayed during the 2015 North American International Auto Show in Detroit, last January.

    General Motors says weakness in South America and Russia hurt demand.

  • SHANGHAI, April 23- China stocks rose to fresh seven-year highs on Thursday, with weaker-than-expected factory activity data reinforcing expectations of fresh government stimulus. The flash HSBC/ Markit Purchasing Managers' Index showed that China's factory activity in April contracted at its fastest pace in a year, suggesting that economic conditions...

  • China fines Mercedes $56.5M for price fixing Thursday, 23 Apr 2015 | 2:57 AM ET

    A local pricing regulator in China said on Thursday it has fine Daimler's Mercedes-Benz $56.49 million for price fixing.

  • *Net flow into China's stock market totalled 781.4 billion yuan last week. SHANGHAI, April 23- China stocks advanced to fresh seven-year highs on Thursday as weaker-than-expected factory activity data reinforced expectations that Beijing will roll out more stimulus measures and keep the financial system flush with cash. Investors only care about the...

  • OTTAWA, April 23- German car maker Volkswagen AG will get 400 million Euros in trade financing from Canada to help expand its southern U.S. and Mexican operations and thereby generate business for Canadian firms, Ottawa said on Thursday. "With the southern U.S. and Mexico increasingly becoming prime production locations for global automakers, EDC has a role to...

  • UPDATE 1-China fines Mercedes $56.5 mln for price fixing Wednesday, 22 Apr 2015 | 11:06 PM ET

    SHANGHAI, April 23- A local pricing regulator in China said on Thursday it has fined Daimler AG's Mercedes-Benz 350 million yuan for price fixing. China has been clamping down on the auto sector, punishing foreign carmakers for price fixing for the first time last year when it fined the Chinese venture of Volkswagen AG and a sales unit of Fiat Chrysler...

  • FRANKFURT, April 22- Nokia's maps business has drawn interest from potential buyers including Facebook and a consortium of German carmakers made up of BMW, Audi and Daimler, a German magazine reported on Wednesday. Nokia is also trying to drum up interest from Apple Inc, Alibaba Group Holding Ltd and Amazon.com Inc, Bloomberg reported, citing people familiar...

  • FRANKFURT, April 22- Nokia's maps business has drawn interest from at least four potential buyers including Facebook and a consortium of German carmakers BMW, Audi and Daimler, a German magazine reported on Wednesday. Hellman& Friedman, BMW, Audi and Daimler were not immediately available for comment. Finland's Nokia said last week it had started a strategic...

  • FRANKFURT, April 22- Nokia's maps business has drawn interest from at least four potential acquirors, including Facebook and a consortium of German carmakers BMW, Audi and Daimler, a German magazine reported on Wednesday. Uber, Hellman& Friedman, BMW, Audi and Daimler were not immediately available for comment. Finland's Nokia said last week it had started a...

  • Volvo ousts chief executive; shares jump 13% Wednesday, 22 Apr 2015 | 3:03 AM ET

    Sweden's Volvo named the head of Volkswagen-owned Scania as its chief executive on Wednesday, replacing embattled Olof Persson.

  • European shares ends higher after China stimulus Monday, 20 Apr 2015 | 11:31 AM ET
    A trader sitting in front of a chart displaying German share index DAX.

    European markets ended higher Monday after China's central bank over the weekend cut the amount of money that banks must hold as reserves.

  • Small is beautiful for Audi in China Monday, 20 Apr 2015 | 2:05 AM ET

    SHANGHAI, April 20- German carmaker Audi AG sees compact cars increasingly becoming the main driver of sales in China, as the country's booming middle class looks for more affordable luxury, the firm's China president Dietmar Voggenreiter said on Monday. Smaller luxury cars are a big volume driver for Audi- the profit engine for Volkswagen AG- and other premium...