If there was ever a company that tracked the recent downs and ups of our car industry, it’s Unipart, which was once a division of the state-owned dinosaur British Leyland but is now a thriving independent parts and logistics firm. Neill’s worries are those of the wider industry. Tariffs would be bad, but worse would… Continue reading Brexit: what it means for the British car industry
Tag: Financial Results
There are big doubts about how Musk will pull off the Tesla buyout, but Morgan Stanley may have found a way
Morgan Stanley is telling its clients there might a way to get funding for Elon Musk’s plan to take Tesla private.
Top auto supplier Magna takes $60 million hit from tariffs, but CEO still sees ‘huge’ opportunity
With about 25,000 employees in the United States and another 23,000 in Canada, automotive supplier Magna International sits squarely in the center of an ongoing trade dispute.
GM squeezes pounds and pennies to attack Ford’s pickup profit machine
FORT WAYNE, Ind. (Reuters) – When General Motors Co (GM.N) engineers were developing the 2019 Chevrolet Silverado and GMC Sierra pickup trucks, some of them joined public tours of Ford Motor Co’s (F.N) Dearborn, Michigan factory to watch aluminum-bodied F-series trucks go down the assembly line. FILE PHOTO: General Motors reveals its 2019 Chevrolet Silverado… Continue reading GM squeezes pounds and pennies to attack Ford’s pickup profit machine
UPDATE 2-Auto parts maker Magna hit by trade dispute; cuts outlook
(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
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
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
Tesla board says it has met ‘several times’ to discuss Musk’s desire to go private
Members of the Tesla board said Wednesday that they have met “several times” to discuss CEO Elon Musk‘s desire to go private.
UPDATE 4-Tesla board evaluating CEO Musk’s idea to take company private
(Reuters) – Tesla Inc’s (TSLA.O) board said it was evaluating taking the company private, a day after Chief Executive Elon Musk surprised shareholders with the idea of launching the biggest leveraged buyout of all time. FILE PHOTO: Elon Musk, founder, CEO and lead designer at SpaceX and co-founder of Tesla, speaks at the International Space… Continue reading UPDATE 4-Tesla board evaluating CEO Musk’s idea to take company private
Tesla board evaluating CEO Musk’s idea to take company private
(Reuters) – Tesla Inc (TSLA.O) said on Wednesday its board is evaluating Chief Executive Elon Musk’s idea of taking the company private after he brought the matter up for discussion last week. FILE PHOTO: Elon Musk, founder, CEO and lead designer at SpaceX and co-founder of Tesla, speaks at the International Space Station Research and… Continue reading Tesla board evaluating CEO Musk’s idea to take company private