DETROIT (Reuters) – Ford Motor Co (F.N) on Wednesday reported slightly higher-than-expected third-quarter profit and stuck to its targets for the year, raising investor hopes for a strong fourth quarter and sending its shares up 7 percent after hours. The logo of the Ford Motor Company is seen outside a car dealership in Cape Town,… Continue reading UPDATE 2-Ford third-quarter profit beats estimates, shares rise
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German court orders top VW investor to pay damages for disclosure violations
FRANKFURT (Reuters) – A German court on Wednesday ordered Porsche Automobil Holding SE (PSHG_p.DE) to pay shareholders 47.2 million euros ($53.8 million) in compensation for violating disclosure rules over an emissions scandal at its main investment Volkswagen (VOWG_p.DE). FILE PHOTO – People are silhouetted at the Porsche annual meeting in Stuttgard, Germany, May 13, 2015.… Continue reading German court orders top VW investor to pay damages for disclosure violations
GM’s driverless car bet faces long road ahead
SAN FRANCISCO (Reuters) – It’s one of the biggest bets going in the world of cars. A Cruise self-driving car, which is owned by General Motors Corp, is seen outside the company’s headquarters in San Francisco where it does most of its testing, in California, U.S., September 26, 2018. REUTERS/Heather Somerville Since May, General Motors… Continue reading GM’s driverless car bet faces long road ahead
UPDATE 3-Dyson chooses Singapore over Britain to build electric car
LONDON (Reuters) – James Dyson, the billionaire British inventor of the bagless vacuum cleaner, has chosen to build his electric car in Singapore to be close to Asian customers, supply chains and a highly skilled workforce. The 71-year-old entrepreneur, who backed Brexit in the 2016 referendum, already manufactures products such as hair dryers, air purification… Continue reading UPDATE 3-Dyson chooses Singapore over Britain to build electric car
Exclusive: Aston Martin considers flying in components, changing ports to handle Brexit delays
LONDON (Reuters) – British carmaker Aston Martin (AML.L) is considering flying in components and moving more parts through ports other than Dover if there is any border friction after Britain leaves the EU, its boss told Reuters. FILE PHOTO: An Aston Martin logo is seen on a car at a dealership in central London, Britain… Continue reading Exclusive: Aston Martin considers flying in components, changing ports to handle Brexit delays
UPDATE 1-Frustrated GM investors ask what more CEO Barra can do
DETROIT (Reuters) – General Motors Co (GM.N) Chief Executive Mary Barra has transformed the No. 1 U.S. automaker in her almost five years in charge, but that is still not enough to satisfy investors. FILE PHOTO: General Motors Chairman and CEO Mary Barra speaks at GM’s press conference at the North American International Auto Show… Continue reading UPDATE 1-Frustrated GM investors ask what more CEO Barra can do
UPDATE 3-Daimler’s diesel troubles trigger new profit warning
FRANKFURT (Reuters) – German carmaker Daimler AG (DAIGn.DE) said its operating profit would fall by over 10 percent this year, its second earnings warning since June, blaming “government proceedings and measures in various regions” as a crackdown on diesel emissions takes a toll. The Daimler is seen during a press conference on the second press… Continue reading UPDATE 3-Daimler’s diesel troubles trigger new profit warning
UPDATE 1-Ford CEO seeks to rally dealers as shares sink to new low
LAS VEGAS (Reuters) – With Ford Motor Co’s stock at nearly a nine-year low and the company squeezed by tariffs and trade tensions, Chief Executive Jim Hackett sought to restore confidence among dealers gathered in Las Vegas this week, days ahead of announcing the automaker’s third-quarter results. Ford CEO Jim Hackett speaks to dealers at… Continue reading UPDATE 1-Ford CEO seeks to rally dealers as shares sink to new low
VW to offer buyer incentive for scrapping older German diesels
BERLIN (Reuters) – Volkswagen (VOWG_p.DE) on Thursday said it will offer trade-in incentives and a bonus for scrapping older diesel vehicles in Germany, in a move to stave off driving bans in polluted cities. FILE PHOTO: The logo of Volkswagen is seen at their plant in Wolfsburg, Germany, April 12, 2018. REUTERS/Fabian Bimmer/File Photo VW… Continue reading VW to offer buyer incentive for scrapping older German diesels
Uber enters trailer leasing business
(Reuters) – Uber Technologies Inc [UBER.UL] said on Wednesday it is entering the trailer leasing business. FILE PHOTO: The Uber application is seen on a mobile phone in London, Britain, September 14, 2018. REUTERS/Hannah McKay/File Photo The business, called Powerloop, will be a part of Uber Freight, which connects truckers with shippers, the company said… Continue reading Uber enters trailer leasing business