Rising market expectations for growth and inflation were not the only things behind the selling pressure on US Treasuries after the US election. One gauge of long-term Treasury market risk known as the term premium has also climbed. The day after the election of Donald Trump as the next US president, the 10-year term premium made its biggest single-day jump since 2011. The move was within the […]
Samsung has announced it has entered into a definitive agreement to acquire Harman, the designer and maker of connection products for automakers, in a bid to expand and accelerate its growth in connected technologies. On Monday, Nov. 14 the Korean company confirmed that it will buy Harman for $112 per share, which brings the cost of acquisition to about $8 billion. Harman has a strong presence in […]
MUMBAI Tata Motors (TAMO.NS) said on Friday that Tata Sons has called for an extraordinary general meeting to oust two directors, Cyrus Mistry and Nusli Wadia, from the automaker’s board, as the nasty spat between the Tata and Mistry camps escalates. In a securities filing, Tata Motors said top shareholder Tata Sons, which controls a 26.51 percent stake in the automaker that owns luxury brand Jaguar Land […]
By Edward Taylor and Eric Auchard | PARIS/FRANKFURT PARIS/FRANKFURT Alarmed by the threat posed by Silicon Valley firms to their businesses in developing autonomous driving systems, it was evident at the Paris Motor Show this week that carmakers are seeking to fight back by cooperating in areas of technology development where previously they might have tried to compete. Three big carmakers – BMW (BMWG.DE), Daimler (DAIGn.DE) and […]
Sometimes, things don’t turn out like we expect. This is the case with Chevrolet and the Chevelle. It started as a conventional car but evolved into a road warrior, carrying the muscle car torch for a new generation. The Chevelle had a body-on-frame design that, while basic, really unlocked its potential as a muscle machine. There was a time when the LS6 Chevelle was the fastest American car […]
A Yahoo logo is pictured in front of a building in Rolle, 30 km (19 miles) east of Geneva, December 12, 2012. Reuters/Denis Balibouse/File photo Verizon Communications Inc will announce an agreement on Monday to buy Yahoo Inc for about $5 billion, according to a person familiar with the matter. The announcement will come before the start of New York trading hours, the source added. The deal […]
A Tesla logo hangs on a building outside of a Tesla dealership in New York, U.S., April 29, 2016. Reuters/Lucas Jackson/File Photo Tesla Motors Inc Chief Executive Elon Musk Wednesday unveiled an ambitious plan to expand the company into electric trucks and buses, car sharing and solar energy systems. In a blog post titled “Master Plan, Part Deux,” Musk sketched a vision of an integrated carbon-free energy […]
CONCORD, Calif Honda Motor Co gave a sneak preview of its self-driving prototypes on Wednesday, saying it was already on its way to offering semi-autonomous safety functions to the mass market. The Japanese automaker has been less vocal about its plans for self-driving cars than larger rivals like Toyota and General Motors, which in recent months have shown off major research and development projects and big-ticket acquisitions. […]
In all my long days as an automotive writer, not one single car manufacturer has asked me to attend their display at an international motor show, and drape myself alluringly across the hood of one of their vehicles. Sex Sells When people (in truth, men) discovered sex sells, car makers jumped on the band wagon. They found that a seductive model adjacent to the product seemed to […]
An Apple store is seen in Los Angeles, California, United States, April 22, 2016. Reuters/Lucy Nicholson/Files SAN FRANCISCO Apple Inc is investigating how to charge electric cars, talking to charging station companies and hiring engineers with expertise in the area, according to people familiar with the matter and a review of LinkedIn profiles. For more than a year, Silicon Valley has been buzzing about Apple’s plan to […]
The interior of the office of ride-hailing service Uber is seen in this picture in Gurugram, previously known as Gurgaon, on the outskirts of New Delhi, India, April 19, 2016. Reuters/Anindito Mukherjee SAN FRANCISCO Toyota Motor Corp (7203.T) said on Tuesday it would invest in on-demand ride-hailing company Uber, the latest in a wave of high-profile moves by automakers to embrace their potential upstart rivals as partners, […]
Reuters journalist Paul Ingrassia sits in the drivers seat of a Tesla S-Type in Autopilot mode in San Francisco, California, U.S., April 7, 2016. Reuters/Alexandria Sage/Files DETROIT U.S. consumers still resist the notion of self-driving cars, according to a University of Michigan study released on Monday, the latest sign that investors and automakers may be rushing into a business where demand is limited at best. General Motors […]
ABU DHABI // Car dealers are looking to the traditionally busy holy month to recoup on poor sales this year – so don’t be afraid to squeeze them, an industry insider advises. With low oil prices hitting the economy and job losses in major sectors, some dealers are reporting sales 25 per cent lower than normal for the first five months of the year. “Car sales across […]
A security guard keeps watch as he walks past a logo of Google at an exhibition stage during the 4th China (Shanghai) International Technology Fair 2016 in Shanghai, China, April 21, 2016. Reuters/Aly Song WASHINGTON Google has no plans to expand its partnership with Fiat Chrysler Automobiles NV to create a self-driving car, the program chief at the Alphabet Inc unit said on Thursday, affirming that the […]
SAN FRANCISCO Apple Inc’s (AAPL.O) $1 billion investment in Chinese ride sharing company Didi Chuxing intensifies a race to acquire technology, talent and market access in a rapidly evolving global personal transportation market. Apple’s investment comes as auto and technology industry executives and investors are placing bets that self-driving car systems, electric vehicles and ride sharing will eventually converge to allow companies to sell rides in self-driving vehicles, […]
Apple Chief Executive Officer Tim Cook speaks during a event for students to learn to write computer code at the Apple store in the Manhattan borough of New York December 9, 2015. Reuters/Carlo Allegri/Files Apple Inc said on Thursday it has invested $1 billion in Chinese ride-hailing service Didi Chuxing, a move that Apple Chief Executive Tim Cook said would help the company better understand the […]
A Volkswagen logo is pictured at Volkswagen’s headquarters in Wolfsburg, Germany, April 22, 2016. Reuters/Hannibal Hanschke BEIJING Volkswagen AG is optimistic that its positive sales trend from the two previous quarters will continue in China, the world’s biggest auto market, its China chief Jochem Heizmann said on Sunday. Volkswagen also plans to invest 4 billion euros ($4.49 billion) with its joint venture partners in China this year, […]
Ride-sharing app company Lyft today announced that it has raised $1 billion in new funding, including a $500 million investment from General Motors. The additional funds bring to $2 billion the total amount of capital the firm has attracted since it was founded in 2012. Under the new arrangement, Lyft and GM [Image credit: General Motors] will work together to build a network of on-demand, self-driving cars […]
|By Matein Khalid| Even as China’s President meets the capo di tutti capi in Seattle, its manufacturing PMI falls to 47, a post Lehman low, with new export orders in a slump. I found it significant that the offshore yuan fell 200 pips to 6.4346 after the PMI. This proves my core argument, outlined a month ago. The Middle Kingdom will respond to its economic decline and […]
A Google self-driving vehicle is parked at the Computer History Museum after a presentation in Mountain View, California May 13, 2014. Reuters/Stephen Lam/Files FRANKFURT German premium carmakers BMW, Mercedes-Benz and Audi are snapping up software experts as tech firms such as Google threaten to outflank them in the race to develop a self-driving car. Software expertise has become a new battleground for automakers and tech firms as […]
DETROIT From his laboratory at Pittsburgh’s Carnegie Mellon University, automated vehicle pioneer Raj Rajkumar says self-driving cars will evolve step-by-step, with humans staying in charge for a long time to come. More than 2,500 miles west in Mountain View, California, Chris Urmson, head of Google Inc’s self-driving car program since 2009, has a different view: A fully automated vehicle that requires no input or intervention from humans is […]
|By Matein Khalid| Geopolitics is now another source of risk for the Turkish lira, government debt and Istanbul equities. The Turkish air force is bombing Daish in Syria and the secessionist Kurdish PKK party in northern Iraq. Suicide bombings have killed Turkish citizens in eastern Anatolian cities on the Syrian border. Ankara has given the US a green light to launch military airstrikes from the Incerlik air […]
FRANKFURT/SAN FRANCISCO BMW (BMWG.DE) and Apple (AAPL.O) may rekindle a courtship put on hold after an exploratory visit by executives of the world’s top maker of electronic gadgets to the headquarters of the word’s biggest seller of premium cars. Apple Chief Executive Tim Cook went to BMW’s headquarters last year and senior Apple executives toured the carmaker’s Leipzig factory to learn how it manufactures the i3 electric […]
Prices for German luxury cars in China are tumbling as the country’s stock market sell-off and worries about broader economic growth chill demand for auto brands that once commanded price premiums from affluent Chinese consumers. At Mercedes-Benz stores operated by a dealer group with nearly 200 multiple brand outlets, customer traffic at showrooms has dwindled markedly since mid-June, when a stock market slide that saw indexes plunge by […]
