Top News & Analysis Detroit

  • *Deiss says fate of Detroit car industry a salutary warning. FRANKFURT, Oct 16- German carmakers only have a 50 percent chance of surviving as leading players in the auto industry unless they transform their businesses to meet new regulations and adapt supply chains, Volkswagen's chief executive said on Tuesday. "If you look at the former bastions of the auto...

  • *Deiss says fate of Detroit car industry a salutory warning. "If you look at the former bastions of the auto industry like Detroit, Oxford- Cowley or Turin, you understand what happens to cities when once powerful corporations and leading industries falter," CEO Herbert Diess told an auto suppliers conference in Wolfsburg, VW's manufacturing base.

  • FRANKFURT, Oct 16- Germany's carmakers only have a 50 percent chance of surviving as leading players in the auto industry unless they transform to meet new regulations and adapt their supply chains, Volkswagen Chief Executive Herbert Diess said on Tuesday. "From today's point of view the chances are perhaps 50-50 that the German auto industry will still belong...

  • *Yamaha, Royal Enfield most affected by strikes near Chennai. CHENNAI/ NEW DELHI, Oct 15- Labour unrest is on the rise at two centres in India where motorcycles and components are manufactured, underlining the problems Prime Minister Narendra Modi's government faces in creating new manufacturing jobs that are sustainable and pay attractive wages.

  • NEW YORK, Oct 14- JP Morgan& Chase Co Chief Executive Jamie Dimon and Ford Motor Co Chairman Bill Ford canceled plans to attend a Saudi investor conference, the companies said on Sunday, the latest such high-profile announcements after the disappearance of Saudi journalist Jamal Khashoggi. Neither JP Morgan nor Ford would elaborate on the reasons for the...

  • NEW YORK, Oct 14- Ford Motor Co Chairman Bill Ford canceled a multi-stop trip to the Middle East, including a planned appearance at a Saudi investment conference, the company said on Sunday, the latest such cancellation after the disappearance of Saudi journalist Jamal Khashoggi. The company did not elaborate on the reasons for Ford's decision not to attend the...

  • PITTSBURGH, Oct 12- The city of Pittsburgh, the one-time steel capital that's long been a symbol of Rust-Belt decline, is emerging as a vibrant hub for artificial intelligence, robotics and biomedical companies eager to tap a rich talent pool. At a conference in Pittsburgh last month showcasing new technology companies, Mayor Bill Peduto cautioned the city to...

  • NEW YORK, Oct 4- Tesla Inc's Elon Musk on Thursday mocked the U.S. Securities and Exchange Commission, just hours after a federal judge ordered him and the regulator to justify their securities fraud settlement, which let Musk remain chief executive. The tweet came five days after Musk settled SEC charges that he misled investors in tweets on Aug. 7, including that...

  • WARREN, Mich, Oct 3- Honda Motor Co Ltd will invest $2.75 billion and take a 5.7 percent stake in General Motors Co's Cruise self-driving vehicle unit, to jointly develop self-driving vehicles for deployment in ride services fleets around the world. Honda, which has lagged behind many of its rivals in developing self-driving vehicles, is paying $750 million...

  • LONDON, Oct 2- London Metal Exchange on-warrant aluminum stocks, metal not earmarked for delivery, are at their lowest since January 2006 at 608,050 tonnes-- a far cry from the peaks hit over 2010-14.. Appearances, however, can be deceptive. And when those infamous load-out queues emerged at Detroit and the Dutch port of Vlissingen over the course of 2012-2014, the...

  • LONDON, Oct 2- London Metal Exchange on-warrant aluminium stocks, metal not earmarked for delivery, are at their lowest since January 2006 at 608,050 tonnes-- a far cry from the peaks hit over 2010-14.. Appearances, however, can be deceptive. And when those infamous load-out queues emerged at Detroit and the Dutch port of Vlissingen over the course of 2012-2014, the...

  • LONDON, Oct 2- London Metal Exchange on-warrant aluminium stocks, metal not earmarked for delivery, are at their lowest since January 2006 at 608,050 tonnes-- a far cry from the peaks hit over 2010-14.. Appearances, however, can be deceptive. And when those infamous load-out queues emerged at Detroit and the Dutch port of Vlissingen over the course of 2012-2014, the...

  • WASHINGTON, Oct 1- President Donald Trump on Monday touted a new free trade deal with Canada and Mexico as a win for U.S. workers while investors breathed a sigh of relief that the key pillars of NAFTA had survived his hardball strategy to reshape global commerce. The new agreement, called the United States- Mexico-Canada Agreement, is aimed at bringing more jobs...

  • *Pietro Gorlier charged with turning round European business. *Tim Kuniskis named head of Jeep North America. MILAN/ DETROIT, Oct 1- Fiat Chrysler's new boss unveiled his management team on Monday, seeking to revive the automaker in Europe, forge ahead in North America and keep the group in contention in the industry's race to develop self-driving and electric...

  • NEW YORK/ SAN FRANCISCO, Sept 27- The U.S. Securities and Exchange Commission accused Tesla Inc Chief Executive Elon Musk on Thursday of fraud and sought to remove him from his role in charge of the electric car company, saying he made a series of "false and misleading" tweets about potentially taking Tesla private last month. In a lawsuit, the regulator described...

  • NEW YORK/ SAN FRANCISCO, Sept 27- The top U.S. securities regulator on Thursday accused Tesla Inc Chief Executive Elon Musk of fraud and sought to remove him from his role in charge of the electric car company, saying he made a series of "false and misleading" tweets about potentially taking Tesla private last month. Musk, 47, is one of the highest-profile tech...

  • NEW YORK/ SAN FRANCISCO, Sept 27- U.S. securities regulators on Thursday accused Tesla Inc Chief Executive Elon Musk of fraud and sought to remove him from his role in charge of the electric car company, saying he made a series of "false and misleading" tweets about potentially taking Tesla private last month. "I don't know how you spin an SEC lawsuit that seeks to...

  • DETROIT/ WASHINGTON, Sept 26- General Motors Co said on Wednesday that Cadillac will switch its headquarters back to Michigan from New York after just three years to be closer to engineers and design teams as the luxury brand plans to roll out two new vehicles annually through 2020.. Cadillac moved to New York under Johan de Nysschen, who ran the brand from 2014...

  • "From Fords perspective the metals tariffs took about $1 billion in profit from us," CEO James Hackett said at a Bloomberg conference in New York, "The irony of which is we source most of that in the U.S. today anyway. Higher U.S. steel prices have resulted in "hundreds of millions of dollars" in additional annual costs, Rick Schostek, executive vice president of Honda...

  • "From Fords perspective the metals tariffs took about $1 billion in profit from us," CEO James Hackett said at a Bloomberg conference in New York, "The irony of which is we source most of that in the U.S. today anyway. Higher U.S. steel prices have resulted in "hundreds of millions of dollars" in additional annual costs, Rick Schostek, executive vice president of Honda...