Transportation equipment industry
Stocks have declined this afternoon as investors worry about rising global interest rates, with European shares plummeting after the European Central Bank (ECB) increased its key interest rate to 2.75 percent and the Bank of England maintaining its rates at 4.5 percent. Meanwhile, the Labor Department reported a
Transportation equipment industry
Top American drug makers, car companies, and farmers are joining forces to push for more access to South Korea's massive market, with the world's 10th-largest economy expected to become a crucial player in global trade. The negotiations between the two countries, set to be one of
Transportation equipment industry
Automakers in the US saw mixed results in May as soaring gas prices and interest rates impacted sales. Toyota and Honda reported double-digit sales increases, while General Motors saw a 12 percent decline. The industry as a whole saw flat sales compared to May 2005, with trucks and SUVs down
Transportation equipment industry
General Motors has announced the appointment of Troy Clarke as its new president of North American operations, while the Tribune Co. has approved a massive share buyback program worth over $2 billion. Meanwhile, a study has found that nearly 75% of former Bethlehem Steel and LTV Corp. retirees had obtained
Automobile industry
In April 2006, the US auto market experienced mixed results, with DaimlerChrysler AG reporting a 6% decrease in total sales compared to April 2005, while Mercedes-Benz USA recorded a 13% increase. The Chrysler Group, comprising the Chrysler, Jeep, and Dodge brands, posted a significant 8% drop in sales, selling 190,
Automobile industry
Moody's Investors Service Inc. has stated that an investigation into Hyundai Motor Chairman Chung Mong-koo on bribery charges is unlikely to affect the credit ratings of the country's top carmaker and its affiliate Kia Motors Corp. The investigation, which sought an arrest warrant for Chung and
Transportation equipment industry
South Korean prosecutors have extended their investigation into the Hyundai Motor Company's cash-for-favors scheme, questioning the vice chairman, Kim Dong Jin. This move comes after the arrests of three individuals, including a lobbyist, the head of an accounting firm, and the chief of Hyundai's logistics affiliate.
Transportation equipment industry
Prosecutors are intensifying their investigation into the Hyundai Motor Group's slush funds and corporate irregularities, with Chairman Chung Mong-koo and his son Eui-sun, president of Kia Motors Corp., expected to be questioned this weekend. The group is suspected of putting tens of billions of won into a secret
Transportation equipment industry
The Dow Jones industrial average eclipsed 11,000 for the first time in over four years, as expectations of stable interest rates and a fresh inflow of retirement investments buoyed the market. Boston Scientific topped Johnson & Johnson's bid for Guidant, the maker of implantable heart devices, and
Transportation equipment industry
General Motors' South Korean division, GM Daewoo, has pulled out of the running to buy the former Daewoo factory in Craiova, Romania, citing no need to own the facility. GM Daewoo's chief executive, Nick Reilly, emphasized the company's interest in securing engine supplies from the
Automobile industry
South Korean exporters are closely monitoring the decline of the US dollar against the won, as a weak dollar makes their products more expensive in overseas markets. Exporters such as Samsung Electronics, LG Electronics, and Hyundai Motor are trying to minimize the impact of currency fluctuations on their earnings. A
Automobile industry
The Department of Justice (DOJ) and the Environmental Protection Agency (EPA) have reached a major settlement with DaimlerChrysler Corporation, a leading automaker in the United States. The agreement stems from allegations of defective emissions controls on nearly 1.5 million Jeep and Dodge vehicles from model years 1996 through 2001.
