Automobile industry
US stocks plummeted on Monday, with many major companies scheduled to release quarterly earnings this week, sparking concerns about the economic outlook. The market is anxious to hear how companies view the economic situation, particularly after a report last week that General Motors was preparing for a possible bankruptcy filing
Automobile industry
Wall Street's biggest names are preparing to unveil quarterly results this week, including Goldman Sachs, JP Morgan Chase, and Intel, amidst a critical week for corporate earnings and economic data. Shares in Citigroup rose 25% after Wells Fargo reported a record profit, but General Motors tumbled 16.2%
Automobile industry
U.S. stocks continue to slump, led by a 2.4% decline in the S&P 500 Index, as investors from George Soros to Marc Faber predict the rebound in equities will falter, citing a seventh straight quarter of declining earnings. The dollar rose against most currencies, oil fell,
Automobile industry
The United States Olympic Committee (USOC) has navigated economic instability by securing 18 corporate sponsors for the next four years, building upon the momentum generated by the 2008 Beijing Games and anticipation for 2010 in Vancouver. This diverse group of partners includes Allstate, Anheuser-Busch, Hilton, Jet Set Sports, Nike, Tyson
Motors Liquidation Co.
The once-dominant Detroit Three auto companies are on the cusp of collapse, with the threat of bankruptcy looming over General Motors and Chrysler. As part of a watershed day for Detroit, the U.S. government delivered an ultimatum to both companies, ordering them to address fundamental problems and complete a
Motors Liquidation Co.
Stock markets across Europe and the US slumped heavily as investors grew anxious over the financial health of America's major banks and automakers. The Dow Jones Stoxx 600 Index plummeted 3.8% to 170.45, its largest decline since March 2. European stocks, meanwhile, fell by the most
Automobile industry
Toyota Motor Corp., Japan's largest carmaker, has announced a partnership with three other companies to develop a fuel cell electricity system for home use. The system is designed to be completed by the early 2010s and will harness the power of hydrogen fuel cells, which reduce carbon emissions
Automobile industry
The Tokyo Motor Show, a major biennial auto event, will have a significantly reduced number of exhibitors due to the industry slump. In contrast to the previous event in 2007, which featured 241 companies from 12 economies, this year's show will have around 122 companies from nine economies.
Transportation equipment industry
In a significant development, two major corporate tax shifts have been announced, with US food giant Kraft moving its European headquarters from the UK and Austria to Switzerland and President Jacques Chirac pledging to cut French corporation tax to 20 per cent. The move to Switzerland is attributed to better
Transportation equipment industry
As the new year started with a series of unexpected twists and turns, concerns over corporate excess, economic slowdown, and industry upheaval gripped the nation. The departure of Home Depot CEO Robert L. Nardelli, who walked away with a staggering $210 million severance package, reignited the debate over executive compensation.
Transportation equipment industry
As China's auto part industry continues to expand globally, local manufacturers are eyeing overseas acquisitions to gain a competitive edge. The Huaxiang Group's recent acquisition of Lawrence Automotive Interiors' subsidiary and Wanxiang Group's potential buyout of Ford's auto parts assets demonstrate
Transportation equipment industry
Toyota, the world's second-largest automaker, and Ford Motor Co. are engaging in discussions about a potential alliance to strengthen their ties in the development of environment-friendly technologies and compact cars. The meeting between Toyota Chairman Fujio Cho and Ford President Alan Mulally came as the industry is undergoing
