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  • Newswire

    Johnson Controls Profit Beats Estimates as Car Seat Demand Rises  

    Sales in the company's automotive experience unit, which makes car seats, floor consoles and overhead systems, rose 3% to $5.3 billion in the fourth quarter. The business accounted for about half of the company's total revenue....More
  • 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

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