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Stock Market & Financial Investment News

News Breaks
April 22, 2014
07:23 EDTBAMXY, DDAIF, AUDVFMercedes adds crossover as competitors expand SUV offerings, Bloomberg says
Daimler's (DDAIF) Mercedes-Benz is planning to add a coupe-style SUV crossover to gain on larger competitors BMW (BAMXY) and Audi (AUDVF), according to Bloomberg, citing comments from Mercedes-Benz's development chief Thomas Weber. Reference Link
News For DDAIF;BAMXY;AUDVF From The Last 14 Days
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September 3, 2015
13:03 EDTDDAIFDaimler and Renault-Nissan break ground for new JV plant in Mexico
Daimler (DDAIF) and the Renault-Nissan (NSANY) alliance broke ground for their joint-venture manufacturing complex, COMPAS in Aguascalientes in central Mexico, which will build next-generation premium compact vehicles for the brands Mercedes-Benz and Infiniti. The partners will invest a total of $1Bin the joint venture which will oversee the construction and operation of the state-of-the-art manufacturing plant. COMPAS will have an initial annual production capacity of more than 230,000 vehicles and will create about 3,600 direct jobs by 2020. Depending on the market development and customer demand, there will be the potential to add additional capacity. Production of Infiniti vehicles will begin in 2017, while the first Mercedes-Benz vehicles will roll off the line in 2018. In addition to the direct employment it provides, COMPAS is also expected to generate some 12,000 indirect jobs - largely due to a high localization rate which will significantly increase the Mexican supply base.
September 2, 2015
12:37 EDTAUDVF, DDAIF, BAMXYGerman carmakers win FTC approval to purchase Nokia's maps unit, Reuters says
BMW (BAMXY), Audi (AUDVF), and Daimler's (DDAIF) Mercedes-Benz have received U.S. antitrust approval from the FTC to purchase Nokia's (NOK) maps business for roughly EUR2.5B, Reuters reports. The deal was on the FTC's list of uncontroversial transactions that received approval from the FTC or DOJ, the report says. Reference Link
September 1, 2015
12:49 EDTDDAIFMercedes-Benz USA reports August sales up 3.2% to 31,250 units
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12:39 EDTBAMXYBMW reports August U.S. sales up 2% to 32,864 units
In total, the BMW Group in the U.S., BMW and MINI combined, reported August sales of 32,864 vehicles, an increase of 2% from the 32,219 vehicles sold in the same month a year ago. Year-to-date, BMW Group sales are 263,908 vehicles, a 7.3% increase from the same period last year. Sales of BMW brand vehicles increased 2% in August for a total of 27,755 - a new August record - compared to 27,213 vehicles sold in August, 2014. Year-to-date, BMW brand sales are 223,348 vehicles, a 5.9% increase from the same period last year. "Even without Labor Day weekend as part of the month, the solid August results for both BMW and MINI continue to prove the strength of consumer demand and underscore the momentum BMW Group has shown throughout this year," said Ludwig Willisch, President and CEO, BMW of North America. "With the launch of the all-new BMW 7 Series getting underway and the new BMW X1 also on the horizon, I'm expecting a strong finish in the remaining four months of 2015." For August, MINI USA reports 5,109 automobiles sold, an increase of 2.1% from the 5,006 sold in the same month a year ago. Year-to-date, MINI USA sales are 40,560 vehicles, a 16% increase from the same period last year. In August, BMW Certified Pre-Owned sold 10,027 vehicles, down 7.1% from August 2014, with a year-to-date gain of 16.5% to 78,068 vehicles sold over the same period in 2014. Total BMW Pre-Owned sales continue to be challenged by low availability with 15,763 vehicles sold in August 2015, an 18.4% decrease from August 2014. The Total BMW Pre-Owned cars sold for the first eight months were 124,151, a 7.4% decrease from the same period in 2014. In August, sales of MINI NEXT were 1,134 vehicles, up 3.5 percent over August 2014, with a year-to-date gain of 25.6% to 7,925 cars over the same period in 2014. Total MINI Pre-Owned sales were 2,696 cars, an increase of 5.3% from August 2014. Total MINI Pre-Owned sales for the first eight months were 18,205, a 7% increase from the same period in 2014.
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
12:54 EDTDDAIFDaimler to reduce Brazil Truck job hours instead of job cuts, Bloomberg reports
Daimler will scale back hours at its Brazilian truckmaking division by 20% instead of cutting jobs, Bloomberg reports. The agreement with local unions guarantees employment until August 2016, and the state of Brazil will compensate workers for roughly half of their lost pay, the report says. Reference Link
August 28, 2015
06:17 EDTBAMXY, AUDVF, DDAIFGerman car makers take hit in China, WSJ reports
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August 26, 2015
17:28 EDTDDAIFBAIC chairman says in talks to buy major stake in Daimler AG, Bloomberg says
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16:26 EDTBAMXY, DDAIFMajor 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 EDTAUDVF, BAMXYArcelorMittal 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
August 24, 2015
07:15 EDTDDAIFDaimler to cut 1,500 truckmaking jobs in Brazil, Bloomberg reports
Daimler is cutting 1,500 jobs at its Brazilian truckmaking unit amidst lack of recovery for demand for commercial vehicles in the country, Bloomberg reports. Reference Link
August 21, 2015
08:11 EDTDDAIFDaimler AG could collaborate with Google, Apple, Reuters says
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