Finance

Lyft Kicks off IPO Roadshow

March 19, 2019 at 2:34 AM

Lyft Inc. hopes to raise $2.1 billion in an initial public offering of shares that will be priced between $62 and $68.

BMW’s Net Profit Falls 17%

March 15, 2019 at 3:08 PM

BMW AG says its net profit in 2018 slid 17% to €7.2 billion because of financial challenges that will continue in 2019.

Report: Uber IPO Coming in April

March 14, 2019 at 4:54 PM

Rider-hailing service Uber Technologies Inc. intends to launch a long-awaited initial public offering next month, sources tell Reuters.

Hyundai Picks Up Key Support in Proxy Fight

March 14, 2019 at 2:14 AM

Hyundai Motor Co. and its parts affiliate Hyundai Mobis gained the support of a key shareholder today in their effort to fend off proxy proposals by activist U.S. hedge fund Elliott Management Corp.

VW Postpones IPO for Traton Truck Unit

March 13, 2019 at 3:53 PM

Volkswagen AG says it is postponing a planned initial public offering for its Traton commercial truck business, citing unfavorable market conditions.

Tesla Secures $521 Million for Factory in China

March 11, 2019 at 12:06 AM

Tesla Inc. says it has reached a deal with Chinese lenders for a $521 million line of credit for the electric car and battery factory it is building in Shanghai.

Conti: No Profits in Autonomous Cars Until 2030

March 07, 2019 at 11:58 AM

Continental AG says it expects no significant revenue from its autonomous-driving products until at least 2030.

Lyft Reports $911 Million Loss in 2018

March 01, 2019 at 1:29 PM

Lyft Inc. reports a $911 million annual loss in its first public financial report since the ride-hailing service launched in 2012.

Opel Helps PSA Post Record Sales, Net Income

February 26, 2019 at 2:39 AM

PSA Group reports record unit sales, revenue and both operating and net income for 2018, largely because of its acquisition of Opel/Vauxhall from General Motors Co. in 2017.

Volkswagen’s Sales, Operating Profits Stall

February 22, 2019 at 4:52 PM

Volkswagen AG reports that its revenue in 2018 rose 3% to €236 billion ($267 billion) as unit sales grew 1% to a record 10.8 million vehicles.

Magna’s Quarterly Sales Hit Record High as Profits Drop

February 22, 2019 at 10:06 AM

Magna International Inc.’s revenue grew 5% to a record US$10.1 billion in the fourth quarter of 2018. But net income fell 18% to $456 million.

Delphi Technologies Posts 26% Income Gain

February 22, 2019 at 1:51 AM

Powertrain specialist Delphi Technologies plc reports that its net income surged 26% to $358 million in 2018. Revenue was flat at $4.9 billion.