SEOUL (Reuters) – General Motors Co will propose a base wage freeze and no bonuses this year as well a suspension of some worker benefits at its money-losing South Korean unit, in an effort to cut costs, showed an internal letter seen by Reuters on Friday. GM announced last week it would shut a plant… Continue reading GM to propose wage freeze, no bonuses for South Korean workers this year
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BRIEF-Ford Motor Credit Company Llc Says Issued And Sold EUR 612 Million Principal Amount Of Floating Rate Notes Due Dec 12, 2019
Feb 22 (Reuters) – FORD MOTOR CREDIT COMPANY LLC: * FORD MOTOR CREDIT COMPANY LLC SAYS ISSUED AND SOLD EUR 612 MILLION AGGREGATE PRINCIPAL AMOUNT OF FLOATING RATE NOTES DUE DEC 12, 2019 – SEC FILING Source text – (bit.ly/2HD430h) Further company coverage: Our Standards:The Thomson Reuters Trust Principles.
BRIEF-Avis Budget To Continue To Expand Operations With Waymo
Feb 22 (Reuters) – Avis Budget Group Inc: * AVIS BUDGET GROUP SEES ABOUT $20 MILLION HIGHER VEHICLE INTEREST EXPENSE IN 2018, PARTLY RESULTING FROM RISING U.S. INTEREST RATES * “WILL CONTINUE TO EXPAND OUR OPERATIONS WITH WAYMO” – CONF CALL * TALKING TO OTHER MOBILITY SOLUTION PROVIDERS, SEE SOME OF THOSE UNFOLD AS WELL… Continue reading BRIEF-Avis Budget To Continue To Expand Operations With Waymo
Bosch buys U.S. start-up to expand connected-drive ops
BERLIN, Feb 21 (Reuters) – Germany’s Robert Bosch said it has acquired a carpooling start-up in the United States and created a new digital unit to further its expansion into data-based mobility services. Privately-held Bosch has purchased Detroit-based Splitting Fares Inc (SPLT), which offers carpooling services to about 140,000 users in the United States, Mexico… Continue reading Bosch buys U.S. start-up to expand connected-drive ops
Bosch starts new division, acquires U.S. carpooling start-up
Feb 21 (Reuters) – Germany’s Robert Bosch on Wednesday created a new division to expand its reach in the markets for ride services and connected vehicles and acquired a small U.S. ride services company as part of the strategic shift. The carpooling start-up Splitting Fares Inc, whose app connects people who share the same route… Continue reading Bosch starts new division, acquires U.S. carpooling start-up
GM offers $2.8 billion investment in South Korea over 10 years: South Korea official
SEOUL (Reuters) – General Motors (GM.N) has proposed $2.8 billion fresh investment in South Korea over the 10 years as part of its plan to restructure its embattled Korean unit, a South Korean senior government official said. The official with direct knowledge of the matter added the U.S. carmaker had requested South Korea to inject… Continue reading GM offers $2.8 billion investment in South Korea over 10 years: South Korea official
UPDATE 1-VW bid to delay first U.S. diesel emissions trial rejected
FAIRFAX, Va. (Reuters) – A Virginia state court judge on Tuesday rejected a request by the U.S. unit of Volkswagen AG (VOWG_p.DE) to delay several of the company’s trials over excess emissions because of “inflammatory” comments made by a lawyer representing car owners that it fears will prejudice the jury. Fairfax County Circuit Court Judge… Continue reading UPDATE 1-VW bid to delay first U.S. diesel emissions trial rejected
BRIEF-Toyota Recalls Certain Sequoia And Tundra Vehicles
Feb 20 (Reuters) – Toyota Motor North America: * TOYOTA RECALLS CERTAIN SEQUOIA AND TUNDRA VEHICLES * TOYOTA MOTOR NORTH AMERICA SAYS IS CONDUCTING SEPARATE SAFETY RECALLS IN THE U.S. OF ABOUT 65,000 MODEL YEAR 2018 SEQUOIA AND TUNDRA VEHICLES * TOYOTA MOTOR NORTH AMERICA SAYS IS ALSO CONDUCTING SEPARATE SAFETY RECALLS IN THE U.S.… Continue reading BRIEF-Toyota Recalls Certain Sequoia And Tundra Vehicles
BP sees self-driving electric vehicles crimping oil demand by 2040
LONDON (Reuters) – The emergence of self-driving electric cars and travel sharing are set to dent oil consumption by 2040, oil and gas giant BP (BP.L) said, forecasting a peak in demand for the first time. In its benchmark annual Energy Outlook, BP forecast a 100-fold growth in electric vehicles by 2040, with its chief… Continue reading BP sees self-driving electric vehicles crimping oil demand by 2040
CORRECTED-UPDATE 3-Japan’s Sony to form alliance to build taxi-hailing system
TOKYO (Reuters) – Sony Corp said on Tuesday it would become the latest blue-chip firm to jockey for position in Japan’s taxi and ride-hailing market, with plans for a joint venture to develop an artificial intelligence-based hailing system. The partnership is the latest in a growing array of tie-ups between domestic taxi firms and tech… Continue reading CORRECTED-UPDATE 3-Japan’s Sony to form alliance to build taxi-hailing system