Finance

Valeo Sales Up, Profits Down in “Challenging” Year

February 21, 2019 at 4:05 PM

Acquisitions helped boost revenue for Valeo SA in 2018. But earnings plunged because of slow sales growth in China and emission-test disruptions to production in Europe.

Lyft to File for IPO Next Week?

February 21, 2019 at 12:13 AM

Reports say ride-hailing service Lyft Inc. is likely to file for an initial stock offering next week and begin holding meetings with would-be investors in mid-March.

Dana Posts Best Results in 8 Years

February 19, 2019 at 5:21 PM

Dana Inc. says its 2018 sales and earnings are the best since the company emerged from bankruptcy protection in 2008.

Uber Hikes Sales, Narrows Losses

February 19, 2019 at 2:58 PM

Uber Technologies Inc. says its adjusted net loss in 2018 narrowed 15% to $1.8 billion. Gross booking for the year totaled $50.2 billion.

America Axle Posts Fourth-Quarter, Full-Year Losses

February 15, 2019 at 5:22 PM

American Axle & Manufacturing Holdings Inc. swung to a $362 million net loss in the final quarter of 2018, as revenue dipped 2% to $1.7 billion.

Rivian Lands $700 Million in New Funding Led by Amazon

February 15, 2019 at 10:09 AM

Rivian Automotive LLC has attracted $700 million in new equity investment led by Amazon.com Inc.

Renault’s Sales, Earnings Slide

February 14, 2019 at 9:23 AM

Renault SA reports that its revenue and net income in 2018 fell 2% to €57.4 billion ($64.8 billion) and 38% to €3.3 billion ($3.7 billion), respectively.

Losses Deepen for Akebono Brake

February 13, 2019 at 12:44 AM

Japan’s Akebono Brake Industry Co. Ltd. predicts it will post an adjusted net loss of 19.2 billion yen ($174 million) in the fiscal year ending March 31, citing losses in the U.S.

Michelin Hikes Operating Slips 3%

February 12, 2019 at 5:35 PM

Michelin & Cie. reports its operating income declined 3% to €2.6 billion ($2.9 billion). Sales revenue was flat at €22 billion ($25 billion).

Nissan’s Operating Profit Jumps 25%

February 12, 2019 at 12:02 PM

Nissan Motor Co.’s operating profit surged 25% to 103.3 billion yen ($935 million) in October-December. Net revenue rose 6% to 3.0 trillion yen ($27.6 billion).

JLR Shops for $1 Billion in New Funds After $4 Billion Writedown

February 11, 2019 at 1:15 AM

Jaguar Land Rover Ltd. says it needs to find $1 billion in funding within 14 months to replace maturing bonds.

Goodyear's Profits, Sales Slide

February 08, 2019 at 6:50 PM

Goodyear Tire & Rubber Co. says its fourth-quarter sales fell 3% to 40.7 million tires as sales to carmakers shrank 10%. Revenue dropped 5% to $3.9 billion.