auto industry

 
 

Renault shares plunge as profit warning deepens its problems

PARIS, Oct 18 — A hefty profit warning sent Renault shares tumbling as much as 15 per cent today, capping a miserable year for the French carmaker following the arrest of long-time boss Carlos Ghosn and adding to signs of a sharp slowdown in the…


IMF warns global outlook ‘precarious,’ no room for policy mistakes

WASHINGTON, Oct 15 — The world economy is slowing to its weakest pace since the global financial crisis, as the US-China trade war undercuts business confidence and investment, the IMF said today. It warned that the outlook is beset by risks, and…


UK hiring falls by most in over four years as Brexit nears

LONDON, Oct 15 — Britain’s jobs boom has weakened in the approach to Brexit with the number of people in work unexpectedly falling by the most in over four years and unemployment rising, official data showed today. Employment fell by 56,000 to…


Renault ousts CEO Thierry Bollore

PARIS, Oct 11 — French automaker Renault said today that it had dismissed its chief executive Thierry Bollore, just nine months after he was named in the wake of the arrest of the previous boss, Carlos Ghosn, on charges of financial misconduct….


Michelin to close tyre factory in France

PARIS, Oct 10 ― Tyre maker Michelin said today it would close a French-based factory with 619 employees next year as competition from cheaper Asian manufacturers knocks its profit margin. Two weeks ago, the French company announced the closure of…


Auto suppliers hit as GM strike in US grinds on

NEW YORK, Oct 10 — As the General Motors (GM) strike grinds on, more auto suppliers and contractors are sending workers home, adding to the economic drag on Michigan and other US midwestern car manufacturing hubs. The idling affects companies that…


Auto industry warns of ‘seismic’ no-deal Brexit shock

BRUSSELS, Sept 23 — The European auto industry today warned of catastrophic effects of a no-deal Brexit, saying it would have a ‘seismic’ impact on making cars in Europe.   In a rare joint statement, chiefs from 23 auto business…


GM, UAW restart talks as workers take to picket lines

DETROIT, Sept 16 — Negotiators for General Motors Co and the United Auto Workers resumed talks today at 10am EDT to resolve a strike that shut down the automaker’s highly profitable US operations. The UAW yesterday launched the first…


Blame game as wheels come off India’s auto sector

NEW DELHI, Sept 15 — When India’s Finance Minister Nirmala Sitharaman claimed that a preference by millennials for ride-hailing apps was contributing to a painful slump in car sales, it sparked an online backlash from furious youngsters. They…


European automakers tell governments they must help sell electric cars

FRANKFURT, Sept 11 — Europe’s carmakers are telling governments they must help build electric car charging points and provide consumer subsidies to boost sales of battery-powered vehicles and assist the industry in meeting stringent new…