BIRMINGHAM, England (Reuters) – The wrong Brexit deal could cost tens of thousands of jobs, the boss of Britain’s biggest carmaker Jaguar Land Rover warned on Tuesday, saying he had no idea whether his plants would be able to operate after Britain leaves the European Union next year. FILE PHOTO – Jaguar Land Rover (JLR)… Continue reading UPDATE 1-Wrong Brexit deal will cost thousands of jobs- Jaguar Land Rover CEO
Author: Ritters US Newsfeed
Renesas in $6.7 billion deal for IDT to boost chips for self-driving cars
TOKYO (Reuters) – Japan’s Renesas Electronics Corp (6723.T) said it had agreed to buy Integrated Device Technology Inc (IDT) (IDTI.O) for $6.7 billion, its second major acquisition as it deepens its push into semiconductors for self-driving cars. Renesas Electronics Corp’s logo is seen on its product at the company’s conference in Tokyo, Japan, April 11,… Continue reading Renesas in $6.7 billion deal for IDT to boost chips for self-driving cars
Hedge fund Tiger Global ups stake in Fiat Chrysler to $1 billion: filing
LONDON (Reuters) – U.S. hedge fund Tiger Global Management has raised its stake in Fiat Chrysler Automobiles (FCHA.MI) to 873.3 million euros ($1 billion), a recent filing with the Dutch regulator showed. FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen at its U.S. headquarters in Auburn Hills, Michigan, U.S., May 25, 2018. REUTERS/Rebecca… Continue reading Hedge fund Tiger Global ups stake in Fiat Chrysler to $1 billion: filing
Germany’s diesel working group recommends hardware retrofits: report
FRANKFURT (Reuters) – A working group of German government officials and car industry lobbyists has recommended hardware retrofits for older diesel vehicles as a way to avert inner-city bans, Frankfurter Allgemeine Sonntagszeitung reported. FILE PHOTO: A market ready particulate filter retrofit system for passenger cars to avoid diesel emission is pictured in a garage of… Continue reading Germany’s diesel working group recommends hardware retrofits: report
VW faces about $10.7 billion investor suit over dieselgate scandal
FRANKFURT (Reuters) – Volkswagen faces a trial next week as investors seek 9.2 billion euros ($10.7 billion) in compensation arguing that the carmaker should have informed shareholders about a diesel pollution scandal before regulators did in September 2015. FILE PHOTO: New Volkswagen cars are seen at the Berlin Brandenburg international airport Willy Brandt in Schoenefeld,… Continue reading VW faces about $10.7 billion investor suit over dieselgate scandal
Elliott demands fresh revamp at Hyundai Motor Group
SEOUL (Reuters) – U.S. activist hedge fund Elliott Management has renewed its pressure on Hyundai Motor Group with a fresh restructuring proposal after forcing the South Korean conglomerate to abandon its own reform plan in May. FILE PHOTO: A car dealer stands in front of the logo of Hyundai Motor at its dealership in Seoul,… Continue reading Elliott demands fresh revamp at Hyundai Motor Group
UPDATE 4-Ford recalls 2 million trucks over seat belt fire risk
WASHINGTON (Reuters) – Ford Motor Co (F.N) said on Thursday it would recall 2 million F-150 pickup trucks in North America because of a seat belt problem that could generate excessive sparks and cause fires. The second-largest U.S. automaker said it received 17 reports of smoke or fire in the United States and six in… Continue reading UPDATE 4-Ford recalls 2 million trucks over seat belt fire risk
UPDATE 3-Ford recalls 2 million trucks over seat belt fire risk
WASHINGTON (Reuters) – Ford Motor Co (F.N) said on Thursday it would recall 2 million F-150 pickup trucks in North America because of a seat belt problem that could generate excessive sparks and cause fires. The second-largest U.S. automaker said it received 17 reports of smoke or fire in the United States and six in… Continue reading UPDATE 3-Ford recalls 2 million trucks over seat belt fire risk
Nissan redraws India strategy, to focus on premium cars
NEW DELHI (Reuters) – Nissan Motor Co (7201.T) will produce and sell only premium vehicles in India, while using its sister brand Datsun to crack the mass budget car market, in a revamp of its strategy in the country, a company executive said on Thursday. FILE PHOTO: Logo of the Nissan Motor Co. is displayed… Continue reading Nissan redraws India strategy, to focus on premium cars
Elliott renews calls for Hyundai Motor revamp: source
(Reuters) – Elliott Management Corp renewed calls on Hyundai Motor Group last month to make structural changes, a source told Reuters, months after the U.S. activist fund helped force the South Korean automotive company to scrap a restructuring deal. FILE PHOTO: A car dealer stands in front of the logo of Hyundai Motor at its… Continue reading Elliott renews calls for Hyundai Motor revamp: source