Finance

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.

New Models Boost Aston Martin’s Revenue 81%

November 15, 2018 at 2:28 PM

Strong third-quarter demand for new models doubled unit sales and hikes third-quarter revenue 81% for Aston Martin Lagonda Ltd.

Uber Loses $1.1 Billion in Third Quarter

November 15, 2018 at 12:45 AM

Uber Technologies Inc. reports it lost $1.1 billion in July-September, up 20% from the previous quarter but down 27% from the third quarter of 2017.

Quarterly Profits Jump 26% for Mahindra

November 14, 2018 at 4:12 PM

India SUV maker Mahindra & Mahindra Ltd. reports its net income in the fiscal second quarter ended Sept. 30 climbed 27% to 17.8 billion rupees ($246 million).

Renault-Nissan-Mitsubishi Invests in Battery Tech Startup

November 13, 2018 at 4:37 PM

The Renault-Nissan-Mitsubishi alliance has made an unspecified investment in Enevate Corp., an Irvine, Calif.-based startup specializing in next-generation lithium-ion batteries for electrified vehicles.

JCI Inks Deal to Sell Battery Business

November 13, 2018 at 3:57 PM

Johnson Controls International plc has agreed to sell its Power Solutions battery business to Toronto-based investment firm Brookfield Business Partners LP and its institutional partners for $13.2 billion.

Hedge Fund Wants Hyundai to Return $10.6 Billion to Shareholders

November 13, 2018 at 2:52 PM

Activist U.S. hedge fund Elliott Management Corp. is urging Hyundai Motor Co. and its affiliates to return $10.6 billion of capital to shareholders.

Magna’s Sales, Net Earnings Rise

November 08, 2018 at 12:04 PM

Magna International Inc.’s third-quarter sales revenue rose 9% to US$9.6 billion.