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Stock Market & Financial Investment News

News Breaks
April 13, 2012
14:47 EDTGM, F, VLKAY, NSANY, DDAIF, TM, HMC, FIATYAuto output may be disrupted by resin shortage says supplier, Bloomberg reports
The global automotive industry may face production issue because of a “severe” shortage of a resin used to make fuel and brake components, according to supplier TI Automotive, reported Bloomberg. Reference Link
News For GM;F;VLKAY;NSANY;DDAIF;TM;HMC;FIATY From The Last 14 Days
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July 22, 2014
06:24 EDTDDAIFMercedes aims to outpace China luxury car sales growth, Bloomberg says
Daimler’s Mercedes-Benz foresees outpacing the growth in industry sales of luxury cars in China this year, after merging two rivaling sales networks and adding new models including its new C-class sedan, according to Bloomberg, citing comments from the head of Mercedes-Benz in China Nicholas Speeks. Speeks said the car manufacturer is confident that deliveries will exceed 300K units next year with sales this year reaching close to 250K units. Reference Link
July 21, 2014
11:57 EDTNSANY, GMChinese electric vehicle maker Kandi surges after tax break news
Shares of Chinese electric car maker Kandi Technologies (KNDI) are surging after a Chinese newspaper reported that electric cars made outside of China would not qualify for a key tax break in the country. WHAT'S NEW: A key sales tax will not be waived on purchases of electric cars made outside of China, said Su Bo, China's vice-minister of the Industry and Information Technology Ministry, according to China Daily. Buyers of electric vehicles made in China will not have to pay a purchase tax from September 1, 2014 until the end of 2017, China Daily stated. WHAT'S NOTABLE: Tesla Motors (TSLA), Nissan (NSANY) and GM (GM) have all sought to sell electric vehicles in China. PRICE ACTION: In late morning trading, Kandi Technologies' stock rose $1.66, or 8.5%, to $21.28. The shares are well off their high for the day of $22.22, but they have surged 80% so far this year. Tesla shares, which had spent some of the morning in slightly negative ground, were up about 1% near $222 per share just before noon.
06:58 EDTNSANYForeign electric cars won't qualify for Chinese tax break, China Daily says
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06:21 EDTGMGeneral Motors eyeing budget cars for Europe, FT reports
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06:12 EDTGMGeneral Motors delays recall in another ignition switch case, ABC News says
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06:07 EDTNSANYNissan to introduce self-parking cars by 2016, Detroit News reports
Nissan is planning to introduce self-parking cars by 2016, the Detroit News reports. The feature, which will be available along with technology enabling cars to self-navigate congested highway, on a wide range of vehicles, CEO Carlos Ghosn says. Reference Link
July 19, 2014
20:10 EDTGMGM issues stop-sale on certain 2014 Cadillac CTS sedans, Bloomberg says
General Motors has issued a stop-sale order dated July 8 to its dealers for 2014 Cadillac CTS sedans that use a standard key ignition, says Bloomberg. Reference Link
July 18, 2014
18:21 EDTTMToyota to launch pricier compact in India, Nikkei reports
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15:23 EDTTM, HMC, NSANYJapan to provide generous subsidies for fuel cell vehicles, Nikkei says
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12:21 EDTGMCable ad upfront volumes may drop 4% or more, WSJ says
Two of the U.S.'s biggest marketers, Procter & Gamble (PG) and General Motors (GM), have pulled back on their TV network advertising commitments in advance of the "upfront" selling season for cable networks, said The Wall Street Journal, citing people familiar with the matter. The overall volume of ad dollars committed to cable networks during the upfront, which is still under way, could be down 4% or more from last year, people familiar with the situation said. Notable owners of cable television stations include 21st Century Fox (FOXA), Time Warner (TWX), Disney (DIS), CBS (CBS), Comcast (CMCSA), Discovery (DISCA), Viacom (VIAB), and AMC Networks (AMCX). The report added that cutbacks partly reflect a shift of tv ad budgets to digital media, including online video. Google (GOOG) has a large presence in online video with YouTube and Facebook (FB) is taking steps to grow in the area. Reference Link
10:03 EDTDDAIFOn The Fly: Analyst Downgrade Summary
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04:59 EDTDDAIFDaimler AG downgraded to Neutral from Outperform at Credit Suisse
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July 17, 2014
08:27 EDTDDAIFMercedes-Benz issues recall due to air bag assembly error
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07:50 EDTFIATY, VLKAYBiggest Fiat stakeholder denies possible VW acquisition, Bloomberg says
Fiat's (FIATY) largest stakeholder, the Agnelli family, said that there were no talks regarding a merger between the Italian car manufacturer and Volkswagen (VLKAY), according to Bloomberg, citing a spokesman for Exor, the Agnelli family's investment firm. Exor owns 30% of Fiat’s shares and was responding to a report by Germany’s Manager Magazin. Reference Link
07:46 EDTGMSenate Commerce & Transportation Committee to hold a hearing
The Subcommittee on Consumer Protection, Product Safety and Insurance holds a hearing entitled, "Examining Accountability and Corporate Culture in Wake of the GM Recalls" with General Motors CEO Barra and EVP Milllikin and President & CEO O'Neal of Delphi Automotive on July 17 at 10 am. Webcast Link
06:53 EDTGMGM deems some cars with same recalled switch 'safe', Reuters says
Even though GM issued a recall for millions of cars with defected ignition switches, the automobile manufacturer has concluded that over 2M other vehicles with the same switches are safe, according to Reuters, citing comments from GM spokesman Alan Adler. The car models which have not been recalled include fullsize crossovers such as the Buick Enclave and the Chevrolet Traverse manufactured from 2007 to the present. Reference Link
06:44 EDTVLKAY, FIATYReport says VW in talks to buy Fiat, Reuters says
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06:38 EDTGMGeneral Motors hires outside law firm to review litigation practices, WSJ says
General Motors has hired an outside law firm to review the way it handles litigation, reports the Wall Street Journal. The company's General Counsel Michael Millikin plans to say in a testimony at a Senate hearing Thursday that a "well-respected outside law firm" will conduct a "zero-based review" of his department. Reference Link
06:28 EDTFIATYChrysler pressured to fix Jeep recall faster, Detroit News says
The National Highway Traffic Safety Administration pressured Chrysler to resolve recalls for Jeep Grand Cherokee and Liberty vehicles due to risk of fire. The company stated it will be able to produce enough trailer hitches to complete the 1.56M vehicle recall faster than anticipated, reports the Detroit News. Reference Link
05:17 EDTFFord launches product acceleration in Middle East, Africa
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