Finance

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  • Newswire

    CORRECTED-Fiat Chrysler says to spin off Ferrari, list 10 pct stake  

    (Corrects to show that 80 pct of Ferrari shares will be distributed among FCA shareholders) MILAN, Oct 29 (Reuters) - Fiat Chrysler said on Wednesday it would spin off luxury carmaker Ferrari and list a 10 percent stake on the market as it seeks to raise funding for its ambitious 48-billion euro ($61 billion) growth plan....More
  • Newswire

    UPDATE 2-Ally Financial profit jumps on fewer expected loan losses  

    (Adds comments from Ally executives) By Peter Rudegeair NEW YORK, Oct 29 (Reuters) - Ally Financial Inc, the second largest U.S. auto lender, posted a third-quarter profit on Wednesday as it set aside less money to cover future car loan defaults. The bank believes its loan losses will be lower in the future because U.S. unemployment has been falling fast, and Ally has in recent months attracted a greater number of borrowers with higher credit scores, finance chief Chris Halmy said on a conference call....More
  • Newswire

    AutoNation Posts 15% Third-Quarter Profit  

    The largest dealer group in the U.S. cites strong margins on used cars in reporting quarterly earnings of $0.90 a share, beating analysts' expectations of $0.86 a share....More
  • Newswire

    U.K. Retailer Lookers Hikes 2014 Guidance  

    The new- and used-car dealer says it expects full-year results will beat market expectations largely due to a surge in new-car deliveries in September....More
  • Newswire

    Continental May Target Asia for Next Acquisition  

    Continental's chief financial officer says the German auto-parts and and tire manufacturer may be ready to expand further once it receives regulators' OK for its purchase of U.S.-based Veyance Technologies....More
  • Newswire

    Tesla Lease Plan Allows Return of Model S  

    Tesla CEO Elon Musk says U.S. Bank will offer a lease lowering monthly payments as much as 25%, with the remaining lease obligation waived if the customer isn't satisfied and returns the Model S within three months of purchase....More
  • Newswire

    Asia, North America Bolster Delphi's Q3 Profit  

    The supplier's third-quarter revenue grew 6% in North America, where U.S. auto sales posted their highest sales for the period in 10 years....More
  • Newswire

    Volvo Q3 Profit Rises by Unexpected Margin  

    The truck manufacturer earned SKN2.9 billion million excluding restructuring charges in the quarter compared with SKN2.5 billion a year earlier and well ahead of a mean forecast of SKN2.07 billion in a poll of analysts....More
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