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Top News & Analysis Michigan


  • LAHAINA, Hawaii, July 29- Pacific trading partners are deadlocked over intellectual property protections, including monopoly periods for next-generation drugs, Japanese Economy Minister Akira Amari said on Wednesday. People briefed on the TPP talks saw signs of progress on other sticky issues, such as Canada's dairy market, as farmers kept up pressure for...

  • Countries involved in the Trans-Pacific Partnership free trade talks are considering a U.S. proposal for finance ministers to discuss currency questions, Australian Trade Minister Andrew Robb said on Tuesday. The move falls short of demands from U.S. lawmakers for tough rules against currency cheating, including from Levin, whose state of Michigan is home...

  • Con-way misses Street 2Q forecasts Wednesday, 29 Jul 2015 | 7:54 PM ET

    ANN ARBOR, Mich. _ Con-way Inc. on Wednesday reported second-quarter profit of $44 million. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share. Con-way shares have decreased 21 percent since the beginning of the year.

  • Gentherm misses Street 2Q forecasts Wednesday, 29 Jul 2015 | 7:45 PM ET

    NORTHVILLE, Mich. _ Gentherm Inc. on Wednesday reported second-quarter profit of $19.5 million. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share. Gentherm shares have climbed 39 percent since the beginning of the year.

  • Credit Acceptance beats 2Q profit forecasts Wednesday, 29 Jul 2015 | 6:39 PM ET

    SOUTHFIELD, Mich. _ Credit Acceptance Corp. on Wednesday reported second-quarter earnings of $74.2 million. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $3.55 per share. Credit Acceptance shares have climbed 71 percent since the beginning of the year.

  • Ford F-150 gets mixed crash test results Wednesday, 29 Jul 2015 | 6:38 PM ET

    DETROIT— Ford's new aluminum-sided F-150 pickup saw mixed results in new crash tests by the insurance industry, and the damaged trucks cost more to repair than steel-bodied ones. The four-door Super Crew version of the 2015 F-150 got top ratings in all five of the crash tests performed by the Insurance Institute for Highway Safety. The Insurance Institute also...

  • DETROIT— Standard& Poor's has boosted Detroit's rating on eight- to 15- year bonds the city plans to sell to improve public services. City officials said Wednesday that the better rating could get Detroit a lower interest rate and save $20 million in interest over the life of the bonds. The $245 million bonds are backed by city income tax revenue and were part of...

  • Tesla offers 1st incentive in owner referral program Wednesday, 29 Jul 2015 | 4:20 PM ET

    DETROIT— Electric car maker Telsa Motors Inc. is offering its first incentive, $1,000 to new-car buyers who are referred by current Tesla owners. Owners who make a referral also will get $1,000 in their Tesla account that can be spent on a car purchase, service or accessories. CEO Elon Musk said the $2,000 is about equal to what it costs to sell a car through a company...

  • Tesla offering $1,000 referral bounty on Model S sales Wednesday, 29 Jul 2015 | 4:07 PM ET

    DETROIT, July 29- Tesla Motors Inc will offer a $1,000 bounty to Model S owners and buyers who take advantage of word-of-mouth referrals of the electric cars, Chief Executive Elon Musk said Wednesday. The referral bounty will be available to those who buy new Tesla sedans- and those who refer them- through October 31. Under the program, buyers will get $1,000 off the...

  • DETROIT, July 29- Fiat Chrysler Automobiles NV will face a shortage of new products in North America over the next 18 months, especially hot-selling trucks and crossover vehicles, according to three sources familiar with the company's plans. While the Italian-American automaker said it will bring three new sports models from Italy to the United States in the...

  • DETROIT— When a car dealer offers to loan you the money to buy a car at zero interest, it gets your attention. Experian Automotive, which tracks auto loans, says 7 percent of new car loans had an interest rate of 1 percent or lower in the first quarter of this year. Edmunds recommends taking the cash to reduce your total loan amount for the base all-wheel-drive model...

  • Whirlpool recalls 40,000 Jenn-Air ovens due to burn risk Wednesday, 29 Jul 2015 | 12:29 PM ET

    The U.S. Consumer Product Safety Commission says the extendable rack inside the oven can fall out. They were sold at Sears, Pacific Sales and other stores for between $2,500 and $5,000. Whirlpool Corp., based in Benton Harbor, Michigan, says customers should stop using the extendable rack and contact the company for a free inspection and repair.

  • Ohio requires front license plates, but some states don't Wednesday, 29 Jul 2015 | 12:19 PM ET

    But it's different in Ohio, where a motorist was fatally shot in Cincinnati during a traffic stop prompted by his failure to display a front plate. Ohio legislators raised the issue again as recently as this year, though it didn't go anywhere. According to a database maintained by the group, 19 states— including Ohio neighbors Indiana, Michigan, Pennsylvania, West...

  • Will the Internet listen to your private conversations? Wednesday, 29 Jul 2015 | 10:44 AM ET

    SAN FRANCISCO— Like a lot of teenagers, Aanya Nigam reflexively shares her whereabouts, activities and thoughts on Twitter, Instagram and other social networks without a qualm. After using the Internet-connected device for two months, Aanya, 16, started to worry that the Echo was eavesdropping on conversations in her Issaquah, Washington, living room.

  • *To restructure and downsize India operations. *To stop production at one of two plants in India. NEW DELHI, July 29- General Motors Co said on Wednesday it will invest $1 billion over the next few years to turn India into a global export hub, even as it cuts production capacity in the country due to sluggish demand.

  • Correction: Lake Erie Algae story Wednesday, 29 Jul 2015 | 9:35 AM ET

    Ohio city detects Lake Erie toxins that led to 2014 crisis. TOLEDO, Ohio— Toledo has detected the first signs in Lake Erie of the dangerous toxin that resulted in a water crisis last year that left 400,000 people in northwestern Ohio and southeastern Michigan without safe tap water for two days. Toledo Mayor Paula Hicks-Hudson and city officials announced late...

  • Federal-Mogul posts 2Q profit Wednesday, 29 Jul 2015 | 9:27 AM ET

    SOUTHFIELD, Mich. _ Federal-Mogul Holdings Corp. on Wednesday reported second-quarter net income of $22 million, after reporting a loss in the same period a year earlier. Federal-Mogul shares have fallen 39 percent since the beginning of the year. Keywords: Federal-Mogul Holdings, Earnings Report.

  • DETROIT— Mini is recalling about 35,000 cars in the U.S. and Canada because they don't meet side-impact crash-test requirements. The company owned by BMW says that if crash-test requirements aren't met, rear-seat passengers could have a higher risk of injury. The recall includes 30,456 cars in the U.S. and another 4,130 in Canada.

  • Meritor tops 3Q profit forecasts Wednesday, 29 Jul 2015 | 8:21 AM ET

    TROY, Mich. _ Meritor Inc. on Wednesday reported fiscal third-quarter earnings of $13 million. Meritor expects full-year earnings in the range of $1.40 to $1.50 per share, with revenue in the range of $3.5 billion to $3.55 billion. Meritor shares have decreased 16 percent since the beginning of the year.

  • Penske beats Street 2Q forecasts Wednesday, 29 Jul 2015 | 7:51 AM ET

    BLOOMFIELD HILLS, Mich. _ Penske Automotive Group Inc. on Wednesday reported second-quarter net income of $94 million. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 99 cents per share. Four analysts surveyed by Zacks expected $4.89 billion.