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Top News & Analysis Detroit

  • WASHINGTON/ LONDON Nov 5- The Republican tax bill unveiled last week in the U.S. Congress could disrupt the global supply chains of large, multinational companies by slapping a 20- percent tax on cross-border transactions they routinely make between related business units. Others said the proposal could run afoul of international tax treaties, the World...

  • WASHINGTON/ LONDON Nov 5- The Republican tax bill unveiled last week in the U.S. Congress could disrupt the global supply chains of large, multinational companies by slapping a 20- percent tax on cross-border transactions they routinely make between related business units. Others said the proposal could run afoul of international tax treaties, the World...

  • WASHINGTON, Nov 2- General Motors Co and Ford Motor Co confirmed Thursday they are cooperating with an expanded Justice Department probe into alleged misspending at United Auto Workers union training centers funded by U.S. automakers. The investigation became public in July, when federal prosecutors accused a former Fiat Chrysler Automobiles NV vice...

  • DETROIT, Nov 2- Pure electric vehicles will not begin to gain serious traction in most global markets until after 2025 and will likely account for only 14 percent of total global vehicle production by 2030, according to a study released on Thursday by Boston Consulting Group. Republicans in the U.S. House of Representatives have already proposed eliminating...

  • NEW YORK, Nov 1- From multiple hurricanes to earthquakes, wildfires and refugee crises, it seems there was a new humanitarian crisis at every turn in 2017.. At least one positive to come out of it: The many times people dipped into their own funds to help those in need. President& CEO, Robert Wood Johnson Foundation.

  • NEW YORK, Nov 1- From multiple hurricanes to earthquakes, wildfires and refugee crises, it seems there was a new humanitarian crisis at every turn in 2017.. At least one positive to come out of it: The many times people dipped into their own funds to help those in need. President& CEO, Robert Wood Johnson Foundation.

  • DETROIT, Oct 31- When U.S. authorities arrested Arthur Rathburn last year, they hailed their investigation as a milestone in efforts to police a growing industry: brokers who acquire bodies donated to science, dissect them and sell or lease the parts for profit. In the mid-2000s, for example, New York state health inspectors twice reprimanded him for failure to...

  • WASHINGTON Oct 29- General Motors Co agreed to a $13.9 million settlement with Orange County, California after prosecutors accused the Detroit automaker of intentionally concealing serious safety defects including those involving faulty ignition switches tied to nearly 400 deaths and injuries, the company said on Sunday. An Orange County superior court...

  • DETROIT, Oct 27- Ford Motor Co's Argo AI unit, which develops software for self-driving vehicles, is buying Princeton Lightwave, one of the oldest makers of lidar sensing devices that use laser light to help autonomous cars "see" nearby objects and obstacles. Others include Tyto Lidar, a small San Francisco Bay area company purchased by Uber Technologies in 2016,...

  • Foreign sources of revenue currently account for 18-20 percent of Thai Summit's sales, but it expects that ratio to reach 30 percent in 3-5 years, with plants in the United States, India and South Africa driving growth. Thanathorn said the privately-held company was looking to take advantage of the similarity in vehicles produced in Thailand and South Africa.

  • Oct 27- In a crowded field of more than 240 startups in self-driving cars, six companies-- four of them in Silicon Valley-- have achieved unicorn status, with valuations of $1 billion or more, according to industry estimates and publicly available data. Velodyne LiDAR Est value: $2 billion Funding: $150 million Founded: 2007 Headquarters: Morgan Hill, CA Business: Lidar...

  • DETROIT/ SAN FRANCISCO, Oct 27- Lei Xu and Justin Song once worked at electric carmaker Tesla Inc, one of the hottest companies in Silicon Valley. Their company, Nullmax, is one of more than 240 startups worldwide, including 75 in Silicon Valley, attempting to design software, hardware components and systems for future self-driving cars, according to a Reuters...

  • DETROIT/ SAN FRANCISCO, Oct 27- Lei Xu and Justin Song once worked at electric carmaker Tesla Inc, one of the hottest companies in Silicon Valley. Their company, Nullmax, is one of more than 240 startups worldwide, including 75 in Silicon Valley, attempting to design software, hardware components and systems for future self-driving cars, according to a Reuters...

  • Oct 27- In a crowded field of more than 240 startups in self-driving cars, six companies-- four of them in Silicon Valley-- have achieved unicorn status, with valuations of $1 billion or more, according to industry estimates and publicly available data. Velodyne LiDAR Est value: $2 billion Funding: $150 million Founded: 2007 Headquarters: Morgan Hill, CA Business: Lidar...

  • NEW YORK, Oct 26- The euro had its worst day against the dollar in 16 months on Thursday after the European Central Bank began weaning the euro zone off loose monetary policy, while U.S. The dollar index rose 0.99 percent, with the euro down 1.35 percent to $1.1653 after the ECB said it would cut its bond purchases in half to 30 billion euros a month from January.

  • *Treasury yields turn higher; U.S. House clears way for tax bill. NEW YORK, Oct 26- The euro fell against the U.S. dollar on Thursday after the European Central Bank began weaning the euro zone off loose monetary policy, while U.S. Treasury yields rebounded when the U.S. House passed a budget plan that paves a path for tax cuts.

  • Waymo said Thursday that Michigan is the sixth state where the self-driving car project will test autonomous vehicles. Waymo has been testing vehicles in Texas, Arizona, Washington State, Nevada and California and starts in Michigan next week on public roads with a backup safety driver sitting in the driver seat if necessary. Waymo said it has conducted cold...

  • *Tesla is industry outlier with Model 3 seats assembled in-house. SAN FRANCISCO, Oct 26- Elon Musk was fed up. Tesla's demanding chief executive vowed years ago to shake up the automotive industry with his line of electric vehicles and a futuristic manufacturing facility in Fremont, Calif. But industry experts say Musk's insistence on performing much of the work...

  • Trump has threatened to withdraw from the trade agreement among the United States, Canada and Mexico, which is heavily utilized by automakers that have production and supply chains spread across the three countries. The proposed rules were viewed as untenable for automakers, as well as Mexico and Canada. The auto coalition, which includes the Motor& Equipment...

  • DETROIT, Oct 24- General Motors Co posted stronger-than-expected pre-tax profit for the third quarter on Tuesday, helped by cost-cutting and a shift to higher-margin trucks and sport utility vehicles, and its shares jumped to a record high. GM, rival Fiat Chrysler Automobiles NV, and heavy machinery maker Caterpillar Inc all are benefiting from a strong U.S....