(Adds comments by CEO and CFO, adds analyst comment, industry background, updates share price.) Aug 8 (Reuters) – Canadian auto parts maker Magna International Inc on Wednesday lowered its full-year production outlook for North America, and revised downward its global sales, hurt in part by U.S. tariffs and other “headwinds” during the quarter, sending its… Continue reading UPDATE 2-Auto parts maker Magna hit by trade dispute; cuts outlook
Category: Automotive
UPDATE 7-U.S. SEC examining Musk’s tweets on taking Tesla private -WSJ
(Reuters) – U.S. regulators are asking Tesla Inc (TSLA.O) why Chief Executive Elon Musk announced his plan to take the electric carmaker private on Twitter and whether his statement was truthful, the Wall Street Journal reported on Wednesday. Musk announced his plan on his personal Twitter account on Tuesday, and the U.S. Securities and Exchange… Continue reading UPDATE 7-U.S. SEC examining Musk’s tweets on taking Tesla private -WSJ
Uber Hit With Cap as New York City Takes Lead in Crackdown
New York is the latest city to grapple with questions over how to regulate the company. In London, Uber’s most lucrative European market, Uber recently regained its taxi license after the company agreed to stricter regulations, including providing the city with traffic data. Uber has also faced regulatory battles in American cities, like Austin, Tex.,… Continue reading Uber Hit With Cap as New York City Takes Lead in Crackdown
Ford executive says baby offroader in product pipeline
(Reuters) – Ford Motor Co (F.N) plans to introduce a small utility vehicle based on its compact Focus sedan, with more rugged offroad styling cues than the Escape, a top executive said on Wednesday. FILE PHOTO – A Ford logo is pictured at a car dealership in Monterrey, Mexico, November 9, 2016. REUTERS/Daniel Becerril/File Photo… Continue reading Ford executive says baby offroader in product pipeline
Intel sold $1 bln of artificial intelligence chips in 2017
SANTA CLARA (Reuters) – Intel Corp on Wednesday said it sold $1 billion of artificial intelligence processor chips in 2017, the first time the world’s second-largest chipmaker disclosed revenue from the fast-growing computing segment that has fueled sales expansions at rivals such as Nvidia Corp. FILE PHOTO: The Intel logo is shown at E3, the… Continue reading Intel sold $1 bln of artificial intelligence chips in 2017
Wipro, Genesys sign pact for autonomous car solutions
BENGALURU: Software services major Wipro and Genesys International Corporation have signed a pact to develop solutions for autonomous vehicles. While Genesys will use its core strength and the expertise to develop high definition maps and content, Wipro will develop the navigational and control technology for autonomous system and smart mobility companies, said Genesys in a… Continue reading Wipro, Genesys sign pact for autonomous car solutions
Welcoming Dave Morton as Tesla’s New Chief Accounting Officer
Taking Tesla Private
Ford Celebrates Production of 10 Millionth Mustang
Ford Mustang, a cultural icon inspiring optimism and independence around the world, celebrates the production of its 10 millionth car at Flat Rock Assembly Plant in Michigan Ford Mustang is the best-selling sports car in America of the last 50 years, is featured in more movies and has more Facebook followers than any other car… Continue reading Ford Celebrates Production of 10 Millionth Mustang
Elon Musk grumbles at short-sellers, but is private ownership right for Tesla? | Nils Pratley
Nils Pratley on finance Elon Musk Elon Musk grumbles at short-sellers, but is private ownership right for Tesla? Nils Pratley A buy-out could be done, but may not be the paradise the entrepreneur imagines Elon Musk of Tesla Motors. Photograph: Toru Hanai/Reuters Tesla’s Elon Musk isn’t the first chief executive to be infuriated by short-sellers,… Continue reading Elon Musk grumbles at short-sellers, but is private ownership right for Tesla? | Nils Pratley