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Stock Market & Financial Investment News

News Breaks
February 21, 2014
06:43 EDTFIATY, HMC, F, GM, NSANY, VLKAY, TMChina ministry wants to ease auto joint venture rules, Automotive News says
China's Ministry of Industry and Information Technology is looking to ease restrictions on foreign automakers' stakes in joint ventures in the country, Automotive News reported yesterday afternoon. Foreign companies currently must form joint ventures to produce cars in China, and are prohibited from owning stakes of more than 50% in these joint ventures, the website noted. Publicly traded automakers include Fiat (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Reference Link
News For NSANY;HMC;TM;GM;FIATY;VLKAY;F From The Last 14 Days
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February 27, 2015
06:49 EDTNSANYNissan says no major new investment needed to meet U.S. goal, Reuters reports
Nissan will be able to reach its goal of attaining 10% market share in the U.S. without making any major new investments, said Jose Munoz, an executive vice president at Nissan and the chairman of its North American arm, according to Reuters. Reference Link
06:37 EDTNSANYNissan president to emphasize customer service, dealerships, WSJ says
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06:27 EDTGMGeneral Motors to discontinue vehicle production at Bekasi, Indonesia plant
As part of its ongoing focus on strengthening the performance of its global operations, General Motors announced that it will transition to a national sales company in Indonesia and will discontinue vehicle production at its Bekasi manufacturing plant near Jakarta by the end of June. GM Indonesia will retain its local presence by providing customers with Chevrolet products such as the Orlando, Captiva and Trailblazer through its committed dealer network. Several factors contributed to GMís decision, including high material costs and reduced potential to utilize the local supplier base due to limited scale.As a result of the companyís actions, approximately 500 positions will be impacted at the Bekasi plant, which is 16 km east of Jakarta. The plant, which is wholly owned by GM Indonesia, opened in 1995. It was reactivated in May 2013 after a suspension of production in 2005. The Bekasi plant currently produces the Chevrolet Spin for Indonesia and other ASEAN markets. GM also announced that GM Indonesia President Michael Dunne has decided to leave the company at the end of February to start his own business and focus on his previous domain of expertise. Dunneís decision has been known to GM for some time. GM has identified a new executive to lead the NSC, who will be announced shortly. GM Indonesia CFO Pranav Bhatt will serve as interim president until the permanent replacement is named.
February 26, 2015
13:06 EDTGMGM reaches agreement with Brazil factory union, Reuters says
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10:39 EDTGM, F, HMC, TM, NSANYOrbital ATK selected by 10 automakers to investigate Takata airbags
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06:42 EDTGMGeneral Motors to stop making cars in Indonesia, Reuters says
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February 25, 2015
07:20 EDTVLKAYVolkswagen CEO views Renschler, Diess as possible successors, Reuters reports
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06:33 EDTTMToyota says union salary demands 'impossible,' Reuters reports
Toyota said today that it would not be able to meet union demands for a $112 increase in monthly pay, according to Reuters. The statement came at the end of the first day of the company's talks with worker representatives, the news service stated. Reference Link
February 24, 2015
13:13 EDTVLKAY, GM, HMC, TMTesla Model S named 'best overall' by Consumer Reports
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11:36 EDTFFord to hold a conference call
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05:09 EDTFFord launches training program at Kansas City plant to support F-150 production
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February 23, 2015
10:40 EDTGMGM ignition-switch deaths increase to 57, WSJ says
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06:24 EDTGMGeneral Motors to legally challenge worker strike in Brazil, WSJ reports
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06:03 EDTHMCHonda says Takanobu Ito to step down as CEO, Takahiro Hachigo named new CEO
Takanobu Ito is stepping down as president and CEO of Honda, the company announced in a press release. Takahiro Hachigo, Honda's managing officer, will take over as president and CEO in June.
February 22, 2015
14:20 EDTGMUAW chief says GM buyback proposal too much, premature, Reuters says
Dennis Williams, the president of the UAW, said that an investor groupís proposal that GM buy back $8B of its stock is premature, and the amount too high for the companyís long-term health, says Reuters. The UAW indirectly controls the largest single block of General Motors shares, added Reuters. Reference Link
February 20, 2015
08:11 EDTGMAlly CEO exploring subprime lending, sees loss of GM business, Detroit News says
Ally (ALLY) CEO Jeffrey Brown stated in a Thursday interview with The Detroit News that the company may return to offering credit cards and home mortgages, and currently plans to expand auto lending to subprime customers. The CEO said he expects to decide within 30-60 days whether Ally will consolidate its five locations to a single headquarters in the Detroit suburbs. Brown added that he expects GM (GM) to shift its $4.1B subsidized leasing program for Chevrolet from Ally to GM Financial, which the Ally CEO wants to offset by increasing subprime lending from 9% of total lending to 12%-15%. Reference Link
07:30 EDTHMCHonda cuts production by another 5,000 due to U.S. port strikes, Reuters says
Honda Motor Co stated it will lower production at two factories in Indiana and Canada from February 24 to March 2 due to a parts shortage brought on by continuing U.S. port strikes, reports Reuters, citing a Honda spokesperson. Total output loss for the two factories -- which mainly produce Civics -- will be roughly 5,000 cars, while total output loss for the company from February 16 to 23 will be roughly 20,000 cars. The spokesperson said supply will be "a little bit better next week" due to air deliveries. Reference Link
07:04 EDTGMAlly CEO assuming company will lose all of GM's leasing business, Reuters says
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06:41 EDTGMApple pushing for 2020 production of its electric car, Bloomberg says
Apple (AAPL) is pushing to begin production of its electric vehicle as soon as 2020, reports Bloomberg, citing people with knowledge of the matter. Bloomberg notes that the move could put Apple into direct competition with Tesla (TSLA) and General Motors (GM), both of which are targeting a 2017 release for next-generation electric vehicles. Apple may still cancel the project if it becomes unhappy with progress, the sources said, though its vehicle team is already 200-people strong. Reference Link
06:06 EDTGMGeneral Motors names Craig Glidden as new general counsel
General Motors (GM) announced yesterday that Craig B. Glidden has been appointed executive VP and general counsel, effective March 1. Glidden will lead a team of staff attorneys who are integrated into all of GMís regional and functional teams in more than 30 countries. Glidden succeeds Michael Millikin, who is retiring in July after a nearly four-decade legal career, including five years as GMís general counsel. Before joining GM, Glidden was executive VP and chief legal officer for LyondellBasell Industries (LYB).
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