They've been jockeying for position for some time. But this morning, auto makers around the world will take big steps in the race to build mass market electric cars. When Energy Secretary Steven Chu announces grants for the development of fuel efficient vehicles and technologies, Ford, Nissan and Tesla will be the immediate beneficiaries.
Asian stocks tumbled Tuesday, but were off the morning session's lows, after falling commodity prices and a sharp drop on Wall Street spooked investors into taking profits and buying the yen on speculation the rapid pace of recovery may not be sustainable.
Asian stocks edged up Monday, supported by buying of defensive sectors, while the U.S. dollar rose on caution ahead of a Federal Reserve meeting this week when policymakers may extend programs to keep borrowing costs low.
While most of us have been focused on the turmoil churning up GM and Chrysler the last 9 months, there's been far less attention given to the fact almost every other auto maker is struggling right now.
Asian markets snapped a four-day slide Friday and government bond yields climbed after upbeat U.S. factory and jobs data provided more evidence that the global economy is recovering from its deep recession.
Asian markets struggled Thursday, with some investors booking profits in the last days of the second quarter after big gains scored on signs the global economy is starting to recover.
Most stocks in Asia edged lower Wednesday, weighed down by resource-related shares and doubts about a global economic recovery, while oil slipped to $70 a barrel ahead of U.S. inventory data that could reflect slowing energy demand.
Asian markets extended losses Tuesday, in the wake of Wall Street's biggest tumble in a month, while government bonds and the yen rose, as investors cut down on riskier assets, demanding evidence of a sustained recovery.
Ford CEO Alan Mulally has been saying it ever since he took over the blue oval. Ford Chairman Bill Ford Jr. has been backing the idea for just as long. Now we'll see if the company that got a lot of Americans hooked on SUVs (and made billions of dollars in the process) can be successful with fuel efficient cars and crossovers.
Asian markets edged lower Monday and pulled back from eight-month highs hit earlier this month, as investors fretted over whether the global economy had improved enough to justify a further rally.
Asian shares marched towards new highs for the year Friday as stronger-than-expected Chinese industrial output data and a rise in U.S. retail sales fuelled hopes that the worst was over for the global economy. Tokyo closed above 10,000 for the first time in eight months.
Despite the somewhat encouraging set of data, futures drifted a bit lower as traders became more concerned with the move in 10-year Treasury yields, which briefly rose above 4 percent again earlier this morning.
Commodity-related stocks in Asia and the Australian dollar rose for a third straight day Thursday as oil prices extended gains, keeping a rising trend in raw materials prices intact.
I can already hear the groans from fans of micro cars and the chortling from those who think the public is nuts to be excited over sub-compact cars.
Within an hour of signing the papers officially creating a new Chrysler that is out of bankruptcy and in an alliance with Fiat, Marchionne sent an e-mail to Chrysler employees.
Forty days. In the world of corporate bankruptcies, I guess you could call that a quick rinse. Now that Chrysler's balance sheet has been cleaned up (thanks in large part to billions in Federal financing), the auto maker is primed for life with Fiat.
Commodity-related shares led Asian stocks higher Wednesday, snapping a two-day decline, after metals and oil prices rallied on a decline in the U.S. dollar and as hopes grew for stronger Chinese industrial demand.
Asian shares fell Tuesday for a second consecutive session as investors worried that a recent rally may be overdone, though oil prices extended gains ahead of data this week expected to show a fall in U.S. crude inventories.
Asian markets were mostly higher Monday after smaller than expected U.S. job losses suggested a recovery is under way, while government bonds slid as investors speculated central banks may have to raise interest rates sooner than previously thought.
Asian stocks rose Friday as hopes for a global economic recovery drove up appetite for riskier assets, but traders were cautious ahead of U.S. monthly job data. Resource shares were among the leading gainers after oil prices surged to a seven-month high on hopes that the global recession had bottomed out.