*Manufacturing output falls 0.9 percent in January. WASHINGTON, Feb 15- U.S. manufacturing fell sharply in January, led by the biggest drop in motor vehicle production since the recession, the latest indication that the economy was losing momentum. "It looks like Fed officials were smart to stop their gradual rate hikes as the economy seems to have entered a soft...
WASHINGTON, Feb 15- U.S. manufacturing output fell steeply in January as motor vehicle production posted its biggest fall since 2009, with declines in a broad range of goods likely to fuel fears of a sharp slowdown in factory activity. Production of motor vehicles and parts dropped 8.8 percent in January, the steepest decline since May 2009, when the United...
LONDON, Feb 15- Weak inflation data from China sent European stocks slipping further on Friday, with car shares and Germany's DAX the worst hit. The German index, the most sensitive to China due to its large share of exporters, fell 0.6 percent with car manufacturers BMW, Daimler, and Volkswagen leading losses. Europe's STOXX 600 managed, barely, to hover flat as gains...
EUROPEAN CAR SALES DECLINE 4.6 PCT IN JAN TO 1.2 MLN VEHICLES- ACEA.
STOCKHOLM, Feb 15- FCA Group, Ford and Volkswagen led a 4.6 percent decline in European car registrations in January, industry data showed, dampened by an economic slowdown in euro zone economies and consumer jitters over Brexit and trade. Registrations dropped to 1.20 million cars in the European Union and European Free Trade Association countries from 1.25...
NEW YORK, Feb 14- Billionaire investor Stanley Druckenmiller bet against electric carmaker Tesla Inc during the fourth quarter, wagering that its share price will fall, according to quarterly filings released on Thursday. Druckenmiller's family fund, named after the hedge fund Duquesne Capital that he founded in 1981, bought put options on Tesla shares...
TORONTO, Feb 14- Ontario, home to much of Canada's auto industry, announced C $40.2 million in technology-focused funds for the auto industry on Thursday, aimed largely at developing next-generation manufacturing workers, as part of a new 10- year plan. The plan does not address the Oshawa closure, said Ontario's Minister of Economic Development, Job Creation...
Feb 14- Ford Motor Co Chief Financial Officer Bob Shanks plans to retire and is expected to stay through the end of the year, CNBC reported on Thursday, citing sources. Shanks was named the automaker's chief financial officer in April 2012. The No.2 U.S. automaker is restructuring operations globally, including cutting thousands of jobs and looking at plant...
MUNGER SAYS CHINA'S BYD IS GOING TO BE HUGE IN ELECTRIC VEHICLES AND MONORAILS, AND HAS BEEN A WONDERFUL INVESTMENT FOR BERKSHIRE.
TOKYO, Feb 14- Top executives from Nissan and Renault on Thursday reaffirmed the importance of an alliance that has been pressured by the ousting of former Chairman Carlos Ghosn, but avoided discussing the potentially contentious issue of Nissan's next chairman. The newly appointed chairman of France's Renault SA, Jean-Dominique Senard, arrived in Japan on...
LONDON, Feb 14- British companies with more than $130 billion of debt to refinance this year are facing rising funding costs as a no-deal Brexit looms, with yields on some bonds now akin to those in emerging markets. Carmaker Jaguar Land Rover highlighted the issues facing some UK corporates when it said recently it would not tap bond markets for the $1 billion it...
PARIS, Feb 14- Renault set a weaker full-year profit goal on Thursday, citing currency challenges and market uncertainties, as the French carmaker presented annual results without its recently ousted CEO Carlos Ghosn for the first time in 13 years. Renault shares, which have lost about one-third of their value over the past 12 months, were up 3.8 percent at 58.84...
PARIS, Feb 14- Renault's revenue and profits fell in 2018, hit by collapsing diesel sales, exchange-rate setbacks and a withdrawal from the Iranian market, the French carmaker said. Revenue fell 2.3 percent to 57.42 billion euros, while recurring operating profit dropped 6.3 percent to 3.61 billion, for a 6.3 percent operating margin. Analysts had expected...
TOKYO, Feb 14- Renault SA Chairman Jean-Dominique Senard, arriving in Japan for a meeting with Nissan Motor, said it was not yet time to discuss whether he would assume the chairmanship of the Japanese automaker, Jiji news agency reported on Thursday. Senard, who is expected to meet Nissan CEO Hiroto Saikawa and reaffirm an alliance rocked by the arrest and ouster...
TOKYO, Feb 14- Renault SA Chairman Jean-Dominique Senard is set to meet with Nissan Motor Co Ltd CEO Hiroto Saikawa during a visit to Japan as the automakers reassess their partnership following the arrest and ouster of former Chairman Carlos Ghosn. Three weeks after being appointed chairman of the French automaker, Senard, who is likely to be named to the...
Feb 13- Partners Volkswagen AG and Ford Motor Co are at odds over how much the German automaker will invest in the No. 2 U.S. automaker's self-driving vehicle unit, with Ford seeking at least $500 million, people familiar with the negotiations said. Analysts and investors have focused on the potential savings their alliance could generate, so any sign of problems...
Feb 13- Volkswagen AG and Ford Motor Co have been unable to reach agreement on whether or how much the German automaker will invest in Ford's self-driving vehicle unit, people familiar with the negotiations said. VW has resisted agreeing to invest in Ford's autonomous vehicle unit, instead preferring to announce the companies will simply work together in that...
TALKS AROUND ELECTRIC VEHICLES INCLUDE HOW MANY VW PLATFORMS FORD WOULD USE AND HOW MUCH FORD WOULD PAY VW-SOURCES.
PARIS, Feb 13- France will invest 700 million euros over the next five years into projects to boost the European electric car battery industry and reduce its carmakers' reliance on dominant Asian rivals, said French presidency officials. In a speech to the Paris- based International Organisation of Motor Vehicle Manufacturers later on Wednesday, President...
STOCKHOLM, Feb 13- Swedish autoparts maker Veoneer forecast organic sales would not grow this year as it expects a downturn in Chinese and European car production to persist, adding any further deterioration could force it to seek additional funding. "We are seeing a weak first half for production, with the low point there the first quarter," CEO Jan Carlson told...
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