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Tesla uses stock, note sale to repay government
Tesla Motors, which makes a highly acclaimed $70,000 electric car, has paid off a startup loan from the U.S. government nine years early. The Palo Alto, Calif., company said it wired in a $451.8 million payment to the government on Wednesday. The money, coupled with two prior payments, paid off ...
Fiat Industrial aims to shift tax home to Britain
Fiat Industrial disputed as "absolutely false" reports Wednesday that Italy would lose 500 million euros ($646 million) in tax revenues if it moves its tax base to Britain after it completes a merger with its U.S.-based subsidiary CNH Global NV. But the maker of heavy trucks, farm and construction vehicles ...
Tesla shows Model S to influence NC auto bill
North Carolina lawmakers and passersby stopped to take in a display of Tesla Motors' award-winning electric cars Wednesday as the company presses against a bill in the General Assembly that effectively outlaws Tesla's Internet-based sales model. The California automaker drew sporadic crowds around its Model S electric car outside the ...
Vandals damage N. Idaho classic car collection
Police in northern Idaho say vandals caused about $54,000 in damage by smashing windows in 26 classic cars in a collector's wooded backyard. The Kootenai County Sheriff's Office tells the Coeur d'Alene Press (http://bit.ly/10M2r6a) that the owner of the vehicles confronted two young men last week engaged in smashing windows. ...
US auto factories cutting back on summer downtime
The Detroit automakers are largely forgoing the traditional two-week summer break at their factories and speeding up production to meet buyers' growing demand for new cars and trucks. Ford Motor Co. said Wednesday that 21 of its North American factories will shut for only one week this summer. That includes ...
Asia stocks rise as Fed official backs easy policy
Asian stock markets were mostly higher Wednesday after investor confidence was boosted by a Federal Reserve official's comments that the U.S. central bank should stick with its super-easy monetary policy. Regional Fed chief James Bullard said in a speech Tuesday that the Fed should continue its monthly $85 billion in ...
Ex-Ford execs charged in Argentine torture cases
Three former Ford Motor Co. executives were charged Tuesday with crimes against humanity for allegedly targeting Argentine union workers for kidnapping and torture after the country's 1976 military coup. All three men are now in their 80s. Their case is part of a new wave of prosecutions focusing on corporate ...
Japanese executives face prison for price fixing
Two executives at Japanese auto supplier Denso Corp. are facing more than a year in U.S. federal prison for fixing prices on auto parts. Yuji Suzuki and Hiroshi Watanabe have pleaded guilty to charges that they fixed prices and allocated bids for electronic control units and heater control panels that ...
Does France have right plan to revive its economy?
The man charged with reviving France's shrinking economy and attracting businesses to invest here is gaining a reputation for doing the opposite. As the country's first-ever minister for industrial renewal, Arnaud Montebourg has told the world's largest steelmaker it is not welcome in France; exchanged angry letters with the head ...
GM giving paid internships to 110 HS students
General Motors is kicking the tires on a unique new internship program for Detroit-area high school students. GM has hired 110 students for paid summer internships, the automaker said Monday in announcing the formation of the GM Student Corps, a program that combines service, education and mentoring. The students will ...
Ex-Saab executives arrested on accounting charges
A Swedish prosecutor says three former executives of automaker Saab Automobile AB have been arrested on accounting fraud charges. Prosecutor Olof Sahlgren says the three are "suspected of aggravated attempts to avoid tax controls" by allegedly falsifying parts of Saab's accounts between 2010 and 2011 — a crime that carries ...
Grand opening held for Model A museum in Michigan
A museum in southwestern Michigan that celebrates Ford Motor Co.'s Model A has held a grand opening ceremony. The 12,000-square-foot Model A Ford Museum is fashioned after a Ford dealership from 1928. It sits on the Gilmore Car Museum campus in Hickory Corners, about 115 miles west of Detroit. Marketing ...
GM stock rises above $33 for first time in 2 years
Shares of General Motors reached an important milestone on Friday, closing above their initial public offering price of $33 for the first time in more than two years. GM shares reached $33.77 Friday before slipping back to close at $33.42, up 3.2 percent. The auto giant sold shares to the ...
Falling yen to make Japan's goods more affordable
Attention, bargain-hunters around the world: Japanese goods — from cars to televisions — are going on sale. Credit Japan's drive to pump cash into its economy to stimulate growth. The extra money flooding its financial system is helping shrink the value of the yen. A U.S. dollar now buys about ...
4-month strike at PSA Peugeot Citroen plant ends
A four-month strike at a car factory north of Paris has come to an end, although the workers say they will still fight a plan to close the plant. PSA Peugeot Citroen said Friday that it had signed an agreement with the CGT union to end the strike, which started ...
European car sales up for first time since 2011
The European auto industry may be showing the first signs of a slowdown in its sales free-fall, according to data from the European automaker's association. New car registrations in April were up 1.7 percent on the same time last year, the ACEA's latest figures show. Although the April rise has ...
Only 2 of 13 small SUVs do well in crash tests
Only two of 13 small SUVs performed well in front-end crash tests done by an insurance industry group, with several popular models faring poorly in the evaluations. Subaru's 2014 Forester was the only vehicle to get the top "good" rating in the results released Thursday. The 2013 Mitsubishi Outlander Sport ...
Asia stocks mixed as Wall St. ignores euro gloom
Asian stock markets were mixed Thursday following dour European economic data that dampened hopes of a recovery there anytime soon. However, losses were limited by another record session on Wall Street. The European Union statistics office said Wednesday that nine of the 17 countries that use the euro are in ...
Eurozone recession is now longest in currency bloc
The eurozone is now in its longest ever recession — a stubborn slump that has surpassed even the calamity that hit the region in the financial crisis of 2008-2009. The European Union statistics office said Wednesday that nine of the 17 EU countries that use the euro are in recession, ...
US factory output falls 0.4 percent in April
U.S. manufacturers cut back on production in April, as auto companies cranked out fewer cars, factories made fewer consumer goods and most other industries reduced output. The weakness suggests economic growth may be slowing. The Federal Reserve said Wednesday that factory output dropped 0.4 percent in April, the third decline ...
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