More in Restructuring

  • Newswire

    VW Reported Planning Extraordinary Board Meeting  

    Sources say the automaker's supervisory board will name finance chief Hans Dieter Poetsch head of a 20-member controlling panel at the Wednesday meeting....More
  • Newswire

    VW Firing U.S. CEO, Audi, Porsche R&D Chiefs  

    A highly placed source says the automaker is dismissing U.S. chief executive Michael Horn and Ulrich Hackenberg and Wolfgang Hatz, respectively the R&D chiefs of Audi and Porsche, amid the scandal over rigged emissions-test results....More
  • Newswire

    Johnson Controls Cost Cuts to Include 3,000 Layoffs  

    The Tier 1 auto-parts supplier says it expects to save up to $250 million a year by cutting 2.5% of its total workforce over the next two years....More
  • Newswire

    Suzuki Buying Back VW's 19.9% Stake  

    The sale, worth up to $3.9 billion, follows an order by an international arbitration court that the German automaker sell its stake to its smaller Japanese rival....More
  • Newswire

    Sources Say Pininfarina Sale to India's Mahindra Imminent  

    Sources familiar with the negotiations between the Indian automaker and Italian design studio say the deal hinges largely on the banks holding Pininfarina's debt....More
  • Newswire

    Report Says FCA's Marchionne Still Pursuing GM Merger  

    The FCA chief says in a published report it would be "unconscionable" to abandon a merger with GM, but the automaker says it conducted in an in-depth review of Marchionne's proposal and is satisfied with its current course....More
  • Newswire

    UPDATE 3-Suzuki Motor says it will buy back VW stake as court settles feud  

    * Suzuki chief says he feels 'so refreshed' * VW welcomes clarity, says cooperation now ended * German stake worth about $3.8 bln at Friday's close * Investor Loeb wants Suzuki to cancel shares after buyback * Suzuki shares flat in Tokyo after initial jump (Adds Suzuki share reaction, analyst comment in paragraphs 6, 7) By Minami Funakoshi and Ritsuko Ando...More
  • Newswire

    TRW Integration Going Well, Auto Supplier ZF Says  

    Releasing first-half financial results for the first time in its history, ZF reports earnings before interest and tax increased 89% from prior-year and says its acquisition of rival supplier TRW is progressing well....More
  • Newswire

    Hyundai Shakes Up China Management  

    The South Korean automaker replaced three top executives after Hyundai and Kia sales fell 32% and 33% in July in the world's biggest automotive market....More
  • Newswire

    Fiat Spinoff Boosts FCA's Fortunes  

    Rising sales and profits, and successful new products, have improved the automaker's share value going back to last year, but some analysts predict a backslide when the Ferrari spinoff is completed....More
  • Newswire

    UPDATE 2-Luxury sportscar maker Ferrari files for New York listing  

    * To sell 10 pct of Ferrari to fund FCA's ambitious growth plan * Marchionne says Ferrari should be worth "at least" $11 bln * To be floated in New York, may seek secondary listing in Milan * To include loyalty scheme that will benefit Agnelli family (Recasts, adds details) By Agnieszka Flak...More
  • Newswire

    UPDATE 4-Canadian auto parts maker Magna to buy Germany's Getrag for $1.9 bln  

    (Adds Getrag valuation, CFO comment and detail on advisers) By Euan Rocha and Allison Martell TORONTO/FRANKFURT, July 16 (Reuters) - Canadian automotive parts maker Magna International Inc said on Thursday it would buy privately-owned German car parts maker Getrag for 1.75 billion euros ($1.9 billion), in a bid to expand its automotive transmission systems business....More

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