Finance

Uber’s Self-Driving Tech Unit Worth $7.3 Billion?

April 17, 2019 at 7:25 PM

Uber Technologies Inc.’s autonomous-car unit would be valued at $7.3 billion under a proposed new investment deal.

Daimler Invests $100 Million in Calif. Battery Developer

April 16, 2019 at 9:59 AM

Daimler AG reportedly has spent $100 million to acquire a 10% stake in a California-based developer of next-generation battery technologies.

Uber Files for IPO

April 11, 2019 at 5:06 PM

As expected, Uber Technologies Inc. has filed with the U.S. Securities and Exchange Commission for an initial public offering.

Uber Lowers Valuation Ahead of IPO

April 11, 2019 at 12:14 AM

Uber Technologies Inc. is expected to reveal details today about its initial public offering, including a valuation about 20% below earlier expectations.

Akebono Brake May Close Two U.S. Factories

April 05, 2019 at 4:33 PM

Japanese supplier Akebono Brake Industry Co. could close two of its four brake component factories in the U.S. to offset a slump in orders, The Nikkei says.

Report: Nio Blocked IPO Banks from Rival EV Makers

March 29, 2019 at 4:02 PM

China-based electric-car developer Nio Inc. blocked the eight investment banks that handled its initial public offering from working with rival EV companies.

France Hikes Stake in Valeo

March 29, 2019 at 2:13 PM

The French government’s Bpifrance investment arm has increased its stake in auto supplier Valeo SA to 5%, in part over concern that activist investors may target the country’s companies.

Lyft IPO Sets Market Value of $24 Billion

March 29, 2019 at 1:41 AM

Ride-hailing service Lyft Inc. will begin trading shares today on the Nasdaq exchange at $72 per share.

Volvo Raises Another $676 Million in Bond Sale

March 26, 2019 at 4:40 PM

Volvo Car Group raised €600 million ($676 million) today through the carmaker’s second bond sale this year.

Geely’s Profits Jump 18%

March 21, 2019 at 8:01 AM

China’s Geely Holding Group reports record revenue and net profit for 2018, as unit sales jumped 20% to 1.5 million cars.

BMW Will Step Up Cost Cutting as Earnings Sag

March 20, 2019 at 12:43 PM

BMW AG hopes to lower its costs by €12 billion ($13.6 billion) between now and the end of 2022 after reporting its net profit fell 17% to €7.2 billion ($8.2 billion) in 2018.

Porsche SE Buys More Shares of "Undervalued" Volkswagen

March 19, 2019 at 1:38 PM

Porsche Automobil Holding SE has spent €400 million ($454 million) to raise its voting stake in Volkswagen AG to 53% from 52%, describing the carmaker as undervalued.