Automobiles
Luxury car brand Bentley has experienced a 37% increase in sales for 2011, with a total of 7,003 vehicles sold. This significant growth is attributed to a surge in demand in China and the US, marking the first time in the company's 92-year history that Chinese sales
Automobiles
Bajaj Auto Limited, the world's largest three-wheeler maker, has made its foray into the four-wheeler segment with the launch of its first eco-friendly vehicle, the RE60, in India. The RE60 runs on CNG and LPG and is powered by a 200cc water-cooled DTSi 4-valve engine, promising to be
Automobile industry
The debate over congressional intervention in the automotive industry has been heating up, with some arguing that the bailout is necessary to save thousands of jobs and regional economies. However, a recent article in Consumer Reports magazine suggests that such intervention may not be warranted, particularly for companies like Chrysler
Automobile industry
The Australian car industry lobby has clashed with a think tank over suggestions that taxpayer subsidies may fail to save Holden from collapse. The Centre for Independent Studies has argued that Holden's parent company, General Motors, would sell off its global brands and liquidate the Australian operation if
Automobile industry
According to the latest rankings released by Consumer Reports magazine, Japanese carmakers have asserted their dominance in the global automotive industry. For the eighth consecutive year, Japanese manufacturers secured top spots in multiple categories, with Toyota Motor Corp. emerging as a clear leader. The publication's rankings, which evaluate
Automobile industry
AvalonBay Communities, a real estate investment trust, reported a 6.7% increase in its 4Q FFO, excluding impairments and other charges. The company primarily focuses on developing high-quality, multi-family apartment communities for higher-income clients in high barrier-to-entry regions of the US. Meanwhile, The Pepsi Bottling Group is addressing the lackluster
Automobile industry
Seoul-based GM Daewoo Auto & Technology Co., the South Korean unit of General Motors Corp., has appealed to the Korea Development Bank (KDB) for hundreds of millions of dollars in aid, citing dire financial straits and a steep drop in sales. The request comes after the South Korean government turned
Automobile industry
Automakers General Motors and Chrysler were working on Wednesday to resolve two outstanding issues in their requests for government aid. The companies submitted plans to the government on Tuesday for how they plan to become profitable with a total of $39 billion in financing. The United Auto Workers (UAW) union
Layoffs
Australian carmaker Holden will not be directly impacted by General Motors' (GM) decision to cut 10,000 white-collar jobs worldwide, which amounts to 14% of its salaried workforce. The U.S. company aims to reduce its global salaried workforce to approximately 63,000 in 2009 as part of its
Layoffs
Both General Motors Corp. and Chrysler LLC are racing against a February 17 deadline to convince the government that they can be viable by the end of March, a feat that will likely require thousands of jobs to be cut and billions of dollars in cost reductions. The automakers have
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.
