Remember when Barack Obama was campaigning for President and he went to Detroit with a very unpopular message in Motown? In essence he told an audience filled with auto execs it was time for them to start building fuel efficient vehicles, hybrids, and models that would lead Detroit out of its money losing ways.
Safe haven plays like gold and the dollar were down again Tuesday, despite the fall in global stocks, as concerns grew about the financial system, scaring investors off. Experts expect the precious metal's rally to continue past the record $1,030.80 it hit last March.
Global stocks were down Tuesday on heightened fears over the stability of the financial industry. Wall Street sank to an 11-year low overnight on reports the government may take a 40 percent stake in Citigroup.
Nationalizing insolvent US banks is the best solution to avoid a Japan-like scenario in which 'zombie' financial institutions would eat up public resources while the US economy would teeter on the brink of depression, Nouriel Roubini, economics professor at NYU and chairman at RGE Monitor told CNBC Tuesday.
There is no shortage of people looking to Japan's so-called Lost Decade of the 1990s for lessons on how to weather the current economic storm, but that could understate the magnitude of the current crisis.
With the UAW and Ford announcing they have agreed on a plan to re-work funding of union's Voluntary Employee Beneficiary Association, it is an important step not only for Ford, but GM and Chrysler as well.
When I woke this morning and surveyed what the morning papers carried about the auto industry, one article in the Detroit News about what cars the Obama Auto Team members own caught my attention -- It brings up the question: Will the cars these members drive influence their decisions regarding GM and Chrysler?
Despite the jumps in banks' shares in morning trade following reports the U.S. government may seek to get 40 percent in Citigroup, experts tell CNBC banks still have skeletons in their closets.
Halfway through the trading day, GM shares hit levels not seen since 1938....A lot investors are starting to wonder if GM stock is worthless.
When President Obama’s Auto Team meets for the first time Friday morning, it will be off camera, behind closed doors, away from reporters. Maybe that's good. After all, fixing this industry could be messy, very messy.
Talk of more bank nationalizations and dampening economic data dragged global stocks to 3-month lows Friday. In the current market volatility, experts tell CNBC where they see short-term investment opportunities.
Global stocks ended the week in the red, near 6-year lows, as pessimism over the economy and banking sector set in, scaring investors away from stocks and back into bonds and gold.
Saturn owners are getting an e-mail today that essentially tells them their beloved brand is not going to die.
GM says that by the end of March it will reach a decision to either sell the brand or phase it out. My gut, based on talking with people in GM and the industry, is HUMMER is sold, but for far, far less than what GM wants.
The euro was higher against the dollar Thursday, after suffering several days of losses versus the US currency, as investors cautiously crept back into stocks. But experts tell CNBC the dollar's strength will continue through to the end of the year.
The scale of Europe’s recession could be as bad as the decade-long slump suffered by Japan during the 1990s, Marino Valensise, chief investment officer of Barings, told CNBC.com.
Global stocks were mostly higher Thursday as recent selling pressure eased and safe-haven buying of the dollar and gold subsided, but reminders of the global economic gloom and financial sector woes kept investors cautious.
Global stocks were mixed Wednesday, a day after US President Barack Obama signed off on the $787 stimulus bill. Experts on CNBC said that although defensives were hot property last year, they are too pricey this year.
The euro rebounded Wednesday after falling to 2-1/2 month lows against the dollar the previous day. Gold also traded higher, above $970 an ounce, as investors steered clear of stocks on global economy worries.
Remember in college when you had to turn in that mid-term exam? Today, GM and Chrysler face their own mid-terms of sorts, but with a big difference.