U.S. mutual funds are placing bigger bets on privately held companies to get a head start finding the next IPO superstar, a strategy that has yielded some dramatic payoffs and flameouts.
Tags: General Motors
Buick unveils sporty Avista concept car, with 400 hp capabilities
General Motors' Buick brand unveiled during the Monday Detroit Auto Show its new sporty Avista concept car, which pumps a 400 horsepower.
Regulators penalized BMW $40M for slow mini car recall
BMW North America faces a penalty of up to $40 million by U.S. auto-safety regulators for recall failures. According to US News, U.S. safety regulators have fined penalty with German automaker BMW AG with $40 million for a reason of not fast fixation of their Mini brand cars that failed federal crash tests.
New Chinese-Backed Automaker Challenges Tesla
Faraday Future comes as a new challenger for Tesla in building electric car. The Chinese-backed startup company has invested $1 billion to build factory in America. Other than electric car, Faraday Futures also prepares "rolling smartphone" as a different business model in automotive industry.
GM promises UAW $1.9 billion for US operations, 3,300 union jobs
General Motors promised The United Auto Workers union a $1.9-billion investment in US operations that would add 3,300 union jobs in the country under a proposed four-year contract.
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Investors attempting to determine whether U.S. equities will rebound from Friday's selloff or continue to sink will look to a deluge of earnings next week for a clearer picture of the economy.
Fiat Chrysler Automobiles is recalling 702,578 SUVs and minivans to fix defective ignition switches that can unexpectedly turn off the engine, according to documents posted Friday by U.S. safety regulators.
At least 40 major U.S. companies have substantial exposure to Venezuela’s deepening economic crisis, and could collectively be forced to take billions of dollars of write downs, a Reuters analysis shows.
Hyundai Motor Co said on Tuesday it would build two factories in China, its first new manufacturing plants since 2012 as the South Korean automaker bets on growth in the world's biggest car market even as the economy slows.
In the heart of western Europe, the Belgian-Dutch-German rust belt has been dealt another blow. Two car plants closed this month as companies sought cheaper labor elsewhere, the final chapter of a manufacturing boom that began when coal mines fuelling Europe's industrialization shut in the 1960s.
The U.S. Treasury Department will sell its remaining 54.9 million shares of Ally Financial Inc (ALLY.N) acquired under the government's bailout of the auto lender, Ally said on Thursday.
Japan's auto recall enforcement division, whose 16 members work from a cramped office on the eighth floor of the transport ministry building in Tokyo, only found out about safety issues with Takata Corp air bags in late-2008 - more than three years after the company says it first learned of problems.
Chrysler Group will begin replacing potentially defective air bag inflators made by Takata Corp in more than 371,000 U.S. vehicles in early December, according to documents filed by the automaker with U.S. safety regulators.
Automakers in Brazil are facing the sharpest slowdown since 1999 and it could be a year or more before things turn the corner.
