Finance

GM Predicts Stronger Profits This Year

January 11, 2019 at 10:17 AM

General Motor Co. predicts its adjusted earnings this year will climb to $6.50-$7 per share after surpassing its expected $6.20 per share result for 2018.

Bentley Unit Told to Become Profitable Within 2 Years

January 09, 2019 at 11:14 AM

Volkswagen AG’s major shareholder families have given the company’s Bentley super-luxury brand no more than two years to achieve a sustainable profit.

Byton EV Startup Hopes to Raise Another $500 Million

January 08, 2019 at 3:06 PM

China’s Byton Ltd. is preparing a new $500 million fundraising round for its electric car business, sources tell Reuters.

Valeo Warns of New Cost Cuts

January 08, 2019 at 1:36 AM

Paris-based parts supplier Valeo SA is developing a new cost-cutting budget for 2019 to follow €100 million ($115 million) in reductions imposed last year.

Faraday Future Settles Dispute with Top Investor

January 01, 2019 at 1:56 AM

Electric car startup Faraday Future Inc. says it has resolved a dispute with its largest investor that will enable the company to pursue additional funding elsewhere.

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.