Brazil posts record auto sales in 2010
Automobile sales in Brazil reached record high for the fourth consecutive year in 2010, as the country is expected to witness the fastest growth in more than two decades.
Post-Market News Wrap (GM, F, SONC, LNDC, MOS, MTSN, TRID, CTL, Q, NURO)
The corporate news that impacted the market during Tuesday session are: General Motors, Ford Motor, Chrysler Group, Motorola, Motorola Mobility Holdings, Motorola Solutions, and Macy's. The companies that reported earnings news after the market close are: Sonic, AngioDynamics, Landec, Team, and Mosaic. The companies that reported guidance revision news after the market close are: Mattson Technology, and Trident Microsystems.
Stocks mixed as commodities sink
Stocks finished mixed, and traders apparently were unimpressed by some good economic data on factory orders and auto sales, while commodities dropped on likely profit-taking.
Auto bailout under Bush due to lax Congress: Issa
The 2008 and 2009 bailout of the U.S. auto industry would not have taken place if Congress had been more specific in how then President George W. Bush could spend the money it gave him, a lawmaker tasked with government oversight said on Sunday.
More news
GM Shares Gain After Analysts Give Thumbs Up
Shares of General Motors rose more than 2 percent Tuesday after a slew of analysts advised buying shares of the automaker, which has raised $23 billion recently in the world's largest IPO.
Major car recalls in 2010
2010 will be remembered as the worst year for automobile industry. A number of leading car makers including Toyota, Honda, GM, BMW, Hyundai, Nissan, Ford, Chevrolet recalled lakhs of vehicles because of various defects and safety problems.
SAIC to invest $1.5 bln in Nanjing to produce 1 mln units
Shanghai Automotive Industry Corp, a partner of Volkswagen AG and General Motors, signed a memorandum of understanding with the city government of Nanjing, capital of Jiangsu province, pledging to invest 10 billion yuan (1.5 billion U.S. dollars) for the expanded production.
GM recalling 109,000 vehicles to fix airbags, rear axles
General Motors on Thursday said it is recalling about 109,000 vehicles due to two concerns that could cause the rear axle to lock and the passenger-side airbag not to work.
Hyundai, Volkswagen top insurance industry safe car list
South Korean automakers Hyundai and Kia Motors and German auto mobile giant Volkswagen won more top safety pick awards than any other brands in 2010, the Insurance Institute for Highway Safety said.
GM China unveils electric concept Sail
General Motors China introduced an electric concept vehicle Sail at the 2010 Guangzhou Auto Show on Tuesday.
GM recalls 111,136 vehicles due to faulty seat belt buckles
General Motors is recalling 111,136 Chevrolet Equinox, GMC Terrain and Cadillac SRX crossover utility vehicles from the 2011 model year due to seat belt buckle anchors that could fail to perform as designed in a crash.
GM repays $2.1 bln to US tax payers
General Motors has paid $2.1 billion to complete the repurchase of preferred shares issued under a federal government bailout, the U.S. Treasury said on Wednesday. With this the auto maker has brought the total sum recouped by taxpayers to more than 23 billion dollars.
UBS Starts GM with 'neutral' rating
UBS initiated coverage of General Motors with a 'neutral' rating and $37 price target, saying that the automaker has no near-term catalysts to move the stock.
HP lands a $1.4 billion deal with German utility giant E.ON
HP has bagged a five-year $1.4 billion technology infrastructure outsourcing deal with German utility giant E.ON.
European Union car sales slump 7.1 pct in November
Registrations of new passenger cars in Europe decreased by 7.1% amounting to 1,069,268 units, the European Automobile Manufacturers Association said Wednesday.
More than half of GM plants are landfill-free
General Motors has announced that 52 percent of its worldwide facilities are now landfill-free, meaning all waste generated from normal operations is reused, recycled or converted to energy.
US falls way behind China in IPO value
Even as the risk appetite of global investors is picking up steam once again, emerging economies have gone past the U.S. in leading the investment pick-up.
Next generation of EV batteries could be five years away: US energy chief
The electric vehicle battery powered cars will start being competitive with gas-powered ones in about five years, the U.S. energy secretary Steven Chu, said at the annual U.N. climate talks.
GM Pushes Hydrogen In Hawaii
The company supports an initiative to create hydrogen fuel cell infrastructure in Hawaii.
AIG to repay NY Fed loan; Opens Door For Sale of Treasury Shares
Insurance giant American International Group has signed a debt repayment deal with Federal Reserve Bank of New York, paving way for the Treasury Department to sell a significant stake in the company early next year.
GM China auto sales up 11 pct in Nov
General Motors on Thursday said its China auto sales in November rose 11 percent, led by strong demand of its Buick and Chevrolet models.
General Motors US auto sales up 11.4 pct in Nov
General Motors on Wednesday said its US auto sales in November rose 11.4 percent over last year led by a balanced contributions from Chevrolet, Buick, GMC and Cadillac cars, crossovers and trucks.
GM Daewoo to repay $1 billion debt
General Motors' South Korean unit, GM Daewoo Auto & Technology on Wednesday announced it will repay its $1 billion loan from the Korea Development Bank, ending its row with the creditor over the issue of extending the loan's maturity.
GM to hire 1,000 engineers in Michigan over two years
General Motors will add 1,000 engineers and researchers in Michigan over the next two years to significantly expand its vehicle electrification expertise and lead in the development of electric vehicles from hybrids to electric vehicles.
GM India post 17.67 pct jump in Nov sales
General Motors India on Wednesday said its sales climbed 17.67 per cent to 8,376 units in November this year compared to 7,118 units during the same month year ago.
Toyota sues GM over plant closure
Toyota Motors has filed a law suit for damages against General Motors Co.'s against bankruptcy estate over the closure of their joint manufacturing plant in California.
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