Finance

Hyundai to Invest $6.7 Billion on Fuel Cell Vehicles

December 11, 2018 at 1:39 PM

Hyundai Motor Co. and its suppliers plan to invest a combined 7.6 trillion won ($6.7 billion) by 2030 to develop next-generation fuel cell vehicles and related technologies.

Nissan to Revise Earnings Reports to Show Ghosn’s True Pay

December 11, 2018 at 11:44 AM

Nissan Motor Co. says it will file corrected earnings to reflect 5 billion yen ($44 million) in previously unreported compensation for former Chairman Carlos Ghosn.

Bosch Rules Out Stock Offering

December 10, 2018 at 2:26 AM

Robert Bosch GmbH has ruled out a suggestion by bankers that the privately held company consider a stock market flotation.

Uber Files for IPO

December 10, 2018 at 12:38 AM

Ride-hailing service Uber Technologies Inc. filed initial paperwork on Thursday for an initial public offering next year, according to media reports.

Lyft Takes First Step in IPO Filing

December 06, 2018 at 3:33 PM

Ride-hailing service Lyft Inc. says it has confidentially filed a draft registration statement with the SEC regarding an initial public offering.

Tata Motors Sinks Deeper into “Junk” Credit Status

December 05, 2018 at 11:21 AM

S&P Global Ratings has lowered its credit rating for Tata Motors Ltd. for the second time in five months, sinking the Indian carmaker two steps into “junk” status.

BMW Predicts €1 Billion Hit from Trade War, Higher Costs

December 04, 2018 at 12:49 AM

BMW AG says the trade war between China and the U.S., exchange rates and costlier materials will cut profits at least €1 billion ($1.1 billion) next year.

Hyundai Plans $227 Million Stock Repurchase

November 30, 2018 at 2:16 AM

Hyundai Motor Co. says it will spend 255 billion won ($227 million) to buy back shares and stabilize the value of its stock.

Volvo Shelves IPO Plans

November 29, 2018 at 3:59 PM

Volvo Car Corp. has abandoned plans to launch an initial pubic offering, two months after postponing the move because of trade tensions and an erratic equity market.

Report: Nissan Auditor Repeatedly Flagged Ghosn Payments

November 28, 2018 at 5:02 PM

Nissan Motor Co.’s outside auditor repeatedly questioned the carmaker’s compensation practices for former Chairman Carlos Ghosn but was assured everything was proper, a source tells Reuters.

Musk: Tesla Was Weeks from Collapse Over Model 3 Woes

November 27, 2018 at 11:16 AM

Tesla Inc.’s struggle to fix production problems with its electric Model 3 sedan earlier this year brought the carmakers within weeks of financial collapse, says CEO Elon Musk.

Report: Bidders Line Up to Buy Dayco Engine Products

November 16, 2018 at 8:52 AM

Several bidders have made offers to acquire Dayco Products LLC, a Troy, Mich.-based engine parts supplier, for as much as $1 billion, sources tell Bloomberg News.