Stockton, California, is expected to file for bankruptcy before the end of the week, becoming the largest U.S. city to seek protection from its creditors.
The collection of new Saab Automobile AB 9-3, 9-4 and 9-5 cars that have been languishing in U.S. ports following the company's bankruptcy will be liquidated at auction beginning on June 28 with a lot in Newark, N.J.
Money manager Ezra Merkin has agreed to pay $410 million to settle a lawsuit brought by the New York attorney general that accused Merkin of steering client money to Ponzi schemer Bernard Madoff, a person familiar with the settlement said on Sunday.
More than a month after the initial public offering of Facebook (Nasdaq: FB), the No. 1 social networking site, investors ought to be on the alert for several bullish signs.
State-owned Beijing Automotive Industry Holding Company (commonly known as Beijing Automotive Group or BAIC) hired Leonardo Fioravanti, legendary designer of the Ferrari Daytona, to transform the Chinese car conglomerate into a world-class maker of luxury cars by 2025, according to Bloomberg News.
Nissan Motor Co. (Tokyo: 7201) is expected to build a 5 billion yuan ($785 million) factory in the northeastern Chinese city of Dalian, an aggressive move into territory traditionally under the sway of Volkswagen AG (Frankfurt: VOW) and Toyota Motor Corp. (NYSE: TM), according to the Japan Daily Press Friday.
Four years after the 2008 financial crisis began gathering steam, the government has collected another piece of the remaining billions in bailout money that it's owed.
Dutch navigation software specialist TomTom (Pink: TMOAF) got a major boost this week as Apple (Nasdaq: AAPL), the world's most valuable technology company, said it would collaborate with it on new software for the iPhone 4S family.
U.S. investors are getting back into real estate, but their efforts are being complicated by the uncertain housing market.
Sales of the Chevrolet Volt Hybrid-Electric Vehicle (HEV) have experienced a resurgence in California following tweaks that now allow the car from General Motors Company (NYSE: GM) to qualify for High Occupancy Vehicle (HOV) lane access.
Apple iOS 6 Software will bring a whole host of updates to Siri in the fall, but the biggest tease during the WWDC keynote on Monday was Eyes Free; a feature that integrates Siri into your car.
Adam Opel GmbH, an aging European subsidiary of the General Motors Co. (NYSE: GM), is hoping Chinese sales will be a panacea for miserable performance in the European market.
Sino-Japanese joint venture National Electric Vehicle Sweden AB (NEVS) has paid a paltry 1.5 billion to 1.8 billion kronor ($210 to $250 million) for defunct Swedish carmaker Saab Automobile AB.
NASCAR fans are car fans, and the racing league and manufacturers like Toyota that compete in the Spring Cup Series are betting that some design tweaks can energize that fandom as well as dealership sales.
General Motors Corp. (NYSE: GM) and its joint ventures in China sold a record number of vehicles last month as demand jumped more than 20 percent from the year-earlier level.
Last week thousands of retirees were suddenly faced by what for many would be the largest financial decision of their lives when both Ford Motor Company (NYSE: F) and General Motors Company (NYSE: GM) announced they would launch immense pension buyout plans unprecedented in the United States.
The U.S. had been losing industrial jobs to low-cost countries, particularly in Asia, for years, but its manufacturing sector appears to be staging a surprising turnaround. In 2009, manufacturing accounted for about 11 percent of U.S. gross domestic product; in 2011, the comparable figure was 12.2 percent.
General Motors Company (NYSE: GM) will provide certain salaried retirees with a lump-sum pension payment offer in lieu of normal monthly pension payments, a move which is expected to reduce the pension obligation of the nation's largest automaker by $26 billion, the company announced Friday.
Verizon Communications (NYSE: VZ)?s plans to acquire Hughes Telematics (OTC: HUTC) for $612 million indicates the biggest U.S. phone company is seeking a new market: Mercedes-Benz drivers.
General Motors Company (NYSE: GM) experienced modest U.S. sales gains of 10.9 percent in May with sales of 245,256 vehicles, the highest monthly volume for the company since August 2009.
Shares of Facebook (Nasdaq: FB), the No. 1 social network, plunged as much as 7.5 percent in Friday trading, reversing Thursday?s 5 percent gains. Overall markets fell about 2.5 percent.
Sales grew across the board in May for U.S. automakers with Chrysler Group LLC, a subsidiary of Italian Fiat S.p.A. (Milan: F), leading the way in growth and General Motors Company (NYSE: GM) leading in volume, while Ford's car and truck sales remained strong on demand for fuel-efficient vehicles. The Asian carmakers also reported U.S. sales on Friday with Toyota Motor Corporation (NYSE: TM) enjoying bumper growth of 73 percent.
