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Stock Market & Financial Investment News

News Breaks
June 3, 2014
06:27 EDTBAMXYBMW to reduce annual German labor expenses by EUR100M, Reuters says
BMW is planning to reduce annual German labor expenses by EUR100M from 2015 onwards, according to Reuters, citing comments from workers' representatives in a report from German local newspaper Muenchner Merkur. The report said the savings were due to the firm contemplating which Bavaria plants would be economically attractive enough to construct new BMW models in the coming years. Reference Link
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August 31, 2015
17:41 EDTBAMXYTencent-backed group to develop Tesla rival, Reuters says
A group of Chinese internet firms and investors including Tencent (TCEHY) and JD.com (JD) founder Richard Liu are backing an effort to create NextEV, an electric vehicle project meant to rival Tesla (TSLA), reports Reuters. The group has hired ex-Ford (F) executive Martin Leach as well as former Volkswagen (VLKAY), BMW (BAMXY), and Tesla employees "to build a global automaker," a spokesperson told the publication. Reference Link
August 28, 2015
06:17 EDTBAMXYGerman car makers take hit in China, WSJ reports
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August 26, 2015
16:26 EDTBAMXYMajor automakers sued over allegedly 'deadly' keyless technology, Reuters says
A number of automakers have been named in a lawsuit alleging that keyless ignition technology can lead to "deadly" results due to carbon monoxide poisoning from cars left running under the belief that engines will automatically switch off, reports Reuters. Defendants include General Motors (GM), Ford (F), Fiat Chrysler (FCAU), Honda (HMC), Hyundai (HYMLF), Nissan (NSANY), Toyota (TM), Volkswagen (VLKAY), BMW (BAMXY), and Daimler's (DDAIF) Mercedes Benz, said Reuters. According to the plaintiffs, the carmakers had "actual knowledge" of the so-called risks and could have prevented 13 deaths and numerous injuries. Reference Link
August 25, 2015
06:44 EDTBAMXYArcelorMittal finds success in Northern France plant, WSJ reports
ArcelorMittal (MT) has found improbable success investing heavily in Europe, particularly in rust belt Northern France, the Wall Street Journal reports. The company's most profitable business unit is located in Northern France, and the European Union is still the globe's most prestigious automotive market, where companies such as Audi (AUDVF) and BMW (BAMXY) make nearly a trillion dollars worth of cars a year, the report says, meaning higher demand for locally produced steel. Reference Link

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