Tag: High Finance

Your Package Has Arrived: Amazon Leads $700 Million Investment in Electric Pickup Maker Rivian

The whisperings from earlier this week panned out, but only partway. Amazon, the e-commerce giant that’s probably sending a cookbook to your neighbor’s house as you read this, is leading a $700 million investment in Michigan-based automotive startup Rivian. What’s missing from this news is General Motors, which, according to sources who spoke to Reuters […]

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Despite Big North American Earnings, Barra Says GM Plants Have to Go

Despite a year-over-year sales drop in the fourth quarter of 2018, a higher average transaction price spurred by growth in high-margin vehicle sales in North America returned better than expected Q4 earnings for General Motors. The company’s strong showing comes as its overseas ventures sank and headwinds gathered at home and abroad; mainly, predictions of […]

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Fiat Chrysler Puts a Price on Its EcoDiesel Punishment

With Fiat Chrysler’s third-quarter earnings report, released Tuesday, the automaker showed it could improve on the boosted North American profitability seen under late CEO Sergio Marchionne. The automaker posted an EBIT (earnings before taxes and interest) profit margin of 10.2 percent in the region, helped by heady Jeep and Ram sales and the 2016 decision […]

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North American Buyers Couldn’t Prop Up Ford’s Global Business in the Last Quarter

China, Europe, and South America all conspired to sink Ford’s profits in the third quarter of 2018, with the automaker posting a 37 percent net income drop compared to the same quarter a year ago. The earnings report came the same day Ford announced the creation of a standalone Chinese business unit, Ford China. Dismal […]

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As Ford Takes a Hit, Hackett Appeals to Trump to End Trade Disputes

Ford’s decision to construct the current-generation F-150’s body purely of aluminum paid off in terms of lightweighting, fuel economy, and sales, but rising commodity costs over the past couple of years eroded some of the financial benefit. There’s far greater headaches facing Ford these days, as the industry grapples with tariffs on not just imported […]

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Money Matters: Moody’s Downgrades Ford to Near Junk

Ford’s been wringing its corporate hands over stock prices for ages. While the market itself is generally rising, the Blue Oval seems to perpetually find itself in Wall Street’s basement. It is arguable that lackluster performance on this front cost Mark Fields his job earlier this year. Things are not looking up in that department. […]

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Musk’s Tesla U-turn Prompted by Annoyed Saudis and Fearful Fans, Despite Interest From Volkswagen: Reports

Friday night’s not-so-surprising move by Tesla CEO Elon Musk, in which he wheeled around his plan to take the company private like an angry father cutting short a family vacation, has many angles. First and foremost is the money factor, which matters more than anything else in this drama. According to two new reports, money […]

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In Vendita: FCA’s Magneti Marelli Could Be Sold, Not Spun Off

In a story that’s been developing for some time now, Fiat Chrysler is inching closer to shedding its component supplier, Magneti Marelli. According to a report, a private equity firm is reportedly in talks with the automaker to buy the parts business. This is a shift in direction for FCA which, in the past, was […]

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Norway’s Wealth Fund Issues Savage Burn On Tesla

Save for some uplifting production news, Tesla Motors is still fighting an uphill battle. CEO Elon Musk’s earlier claim that the company would go private has gotten him into trouble with the Securities Exchange Commission — since it looks as if the automaker hasn’t procured the necessary funding to make that happen. However it doesn’t appear as […]

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SEC Gets Serious in Tesla Going-private Probe, Issues Subpoenas: Report

While the U.S. and now Canada enjoy carrying out international diplomacy via tweet, the business world lays out a few ground rules. If you’re the head of a multi-billion dollar publicly traded company, maybe it’s best to not announce your intention to take the company private — while stating there’s funding on hand to pull […]

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