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Stock Market & Financial Investment News

News Breaks
June 16, 2014
10:34 EDTGMGM has repaired 154,000 vehicles for ignition switch defects, Detroit News says
The House Energy and Commerce's oversight and investigations committee said General Motors has repaired 154,000 vehicles for ignition switch defects, reports Detroit News. In a memo by committee staff released today, the company had built 396,253 ignition switch repair kits that have been shipped. Close to 130,000 vehicles were repaired in the United States. Reference Link
News For GM From The Last 14 Days
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August 28, 2014
11:05 EDTGMGM recalls cars due to potentially faulty rail roof air bags
GM is recalling certain model year 2015 Chevrolet Suburban, Suburban LTZ, Tahoe, Tahoe LTZ, GMC Yukon, and Yukon XL Denali vehicles manufactured on May 13. The affected vehicles were assembled with a roof rail air bags that were not reinforced at the points were the bags contact the hardware used to attach the roof carrier. During deployment, the RRAB may be punctured or torn by the roof carrier hardware, reducing its performance and increasing the risk of occupant injury in the event of a crash. GM will notify owners, and dealers will replace the roof carrier attaching hardware, free of charge. The recall is expected to begin in early September. Reference Link
06:45 EDTGMGM aims to relocate some Equinox manufacturing to Mexico, Reuters says
GM is aiming to relocate some manufacturing of its Chevrolet Equinox from its Spring Hill, Tennessee plant, to its facility in Ramos Arizpe, Mexico when the crossover car is poised to be revamped in the next two years, according to Reuters, citing an industry source familiar with the automobile firm's plans. Reference Link
August 27, 2014
12:55 EDTGMGM ignition switch fund has received 107 death claims, Reuters reports
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11:48 EDTGMGM invests $233M for new engines; to build Cadillac SRX in Spring Hill
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11:26 EDTGMGM moving Cadillac SRX production to Tennessee plant from Mexico, WSJ says
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August 26, 2014
12:39 EDTGMGM recalls Buick Regals, Chevrolet Malibus due to signal defect
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12:37 EDTGMGM recalls vehicles for potential steering defect
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06:42 EDTGMCCI charges automakers $420M for anti-competitive tendencies, Reuters says
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06:05 EDTGMGM's compensation fund receives 100 claims for deaths, Detroit News reports
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August 24, 2014
17:07 EDTGMGM considers delay in expansion of Russian plant, WSJ says
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August 22, 2014
11:04 EDTGMGM assessing timing of facility development in Russia, Reuters says
GM said that it was assessing the timing of the planned development of its Russian facility close to St Petersburg due to a decline in the automobile market in the country, according to Reuters, citing comments from a company spokesman. The spokesman said, "In view of the current business situation in Russia and the lower sales volumes since the start of the year, we are taking a close look at our plans. Reference Link
06:54 EDTGMChrysler to not replace Ram steel body panels until 2020, Reuters says
Fiat's (FIATY) Chrysler is aiming to redesign its full-size Ram 1500 pickup trucks beginning in three years, but the car manufacturer has no definitive goals to follow competitors GM (GM) and Ford (F) in using aluminum body panels instead of steal until a finalized overhaul happens after 2020, according to Reuters, citing industry sources. Reference Link
06:07 EDTGMProsecutors investigating GM's legal department, WSJ reports
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August 21, 2014
13:52 EDTGMCadillac mulls expanding offices to Manhattan, Reuters says
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07:18 EDTGMChina considering new anti-trust rules for auto sector, China Daily says
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06:21 EDTGMGM product chief thinks Google might become 'threat,' Bloomberg says
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06:08 EDTGMGM launches new round of discounts for Labor Day weekend, WSJ reports
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August 19, 2014
09:41 EDTGMGM recalls Silverados, Sierras equipped with auxiliary battery
GM is recalling certain model year 2007-2011 Chevrolet Silverado HD 2500/3500 trucks manufactured January 18, 2007, to June 22, 2011, and GMC Sierra HD 2500/3500 trucks manufactured January 22, 2007, to June 21, 2011, and equipped with an auxiliary battery. Owners may unknowingly draw too much current through the vehicle's trailer harness resulting in the melting of fusible link for the auxiliary battery. If the fusible link melts it may come into contact with adjacent components, damage the electrical center cover, the nearby wiring harness conduit and other vehicle components, increasing the risk of a fire. GM will notify owners and dealers will replace the jumper harness with one that includes a 40 amp inline fuse, and provide the owner with supplemental Owner Manual information, free of charge. The manufacturer has not yet provided a notification schedule. Reference Link
09:38 EDTGMGM recalls cars equipped with Calix oil pan, block heater
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08:02 EDTGMBorgWarner supplies solenoid technology for General Motors' GF6
BorgWarner (BWA) supplies its mini direct-acting variable force solenoid for General Motors' (GM) global front-wheel drive 6-speed automatic transmission program, or GF6.

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