The Toyota Camry, the best-selling car in the U.S., performed poorly this year in a new crash test and failed to get the best safety rating from an insurance industry group. The Insurance Institute for Highway Safety gave the Camry a "Poor" rating on a test that measures how well people are protected when the front corner of a car hits another car or an object.
Wind energy advocates are pushing for the credit renewal. The American Wind Energy Association, quoting a study by Navigant Consulting, said a new U.S. manufacturing sector and 37,000 jobs could be lost by the first quarter of 2013 if Congress fails to act.
PSA Peugeot Citroen and GM have unveiled the first vehicles they will develop together as part of a joint venture they hope will reduce costs and re-energize their businesses. The French and American automakers said Thursday that they plan to share development for three kinds of cars: a small family van, a small multi-purpose van and a low-emissions vehicle.
General Motors is moving production of the next version of its Camaro sports car from its Canadian operation in Oshawa, Ontario to a plant in Michigan. GM Canada said a statement Wednesday that "lower capital investment and improved production efficiencies were key factors" in the move.
Toyota Motor Corp. has agreed to pay a fine of $17.35 million (around 1.45 billion yen) for its failure to report a safety defect to the U.S. government in a timely manner, U.S. authorities said Tuesday. The U.S. Department of Transportation's National Highway Traffic Safety Administration said the fine was the maximum allowable under a relevant law.
Hyundai is recalling about 13,500 Veloster hatchbacks in the U.S. because the vehicle's sunroof can shatter and cause injuries. The recall affects cars from the 2012 model year. Hyundai says it knows of no crashes from the problem, but five people have received minor cuts.
Moody's Investor Service said Tuesday that it may downgrade Alcoa Inc. because of a nearly 22 percent drop in aluminum prices in the past year. That could put the company's credit ratings in junk territory. The ratings agency pegs Alcoa's senior unsecured rating at "Baa3," the lowest investment-grade rating. Its review affects about $8.6 billion of debt.
GM shares jumped 9 percent in premarket trading on news that it will shed the stigma of being partly owned by the government within the next 15 months. The automaker will buy back 200 million shares of its stock from the U.S. Treasury for $27.50 apiece, or $5.5 billion. And the government, in turn, plans to sell its 300 million shares on the open market starting in January, and be completely removed by early 2014 or sooner.
A South Korean businessman and his Iowa metals company gave $500,000 to a university institute honoring U.S. Sen. Tom Harkin, who is pushing for a dollar coin that could generate tens of millions of dollars in new business for the company, according to records obtained by The Associated Press.
The Treasury plans to sell its remaining stake in General Motors over the next 15 months, allowing the automaker to shed the stigma of being partly owned by the U.S. government. GM said it will spend $5.5B to buy back 200M shares of its stock from the Treasury by the end of this year. The government, in turn, plans to sell its remaining stake of 300M shares on the open market over the next 12 to 15 months.
Blindsided by a new law weakening union rights in Michigan, organized labor is preparing to target Republican governors in politically important states up for re-election in 2014 — part of a renewed offensive against perceived anti-union policies.
German prosecutors have charged two former Porsche executives with market manipulation in connection with the sports car company's failed takeover of Volkswagen AG, officials said Wednesday. Prosecutors in Porsche's home city of Stuttgart accuse former chief executive Wendelin Wiedeking and ex-chief financial officer Holger Haerter of making misleading statements about the company's intentions in 2008.
The government on Wednesday gave a verbal warning to Mitsubishi Motors Corp. for its improper handling and explanation of minivehicle recalls prompted by oil leaks. The Ministry of Land, Infrastructure, Transport and Tourism is expected to inspect the company soon over the four recalls reported since November 2010.
A federal jury in San Francisco has convicted a former executive at a Taiwanese company of participating in a global LCD screen price-fixing conspiracy. The U.S. Department of Justice says Shiu Lung Leung could face up to 10 years in prison and a $1 million fine for his role in illegally fixing computer screen prices in the U.S.
Apple and Samsung, the world's top two smartphone makers, each scored a significant victory on different continents that will allow both to keep selling their products without legal interference this holiday season. A federal judge rejected Apple's demands to block U.S. sales of three smartphones made by Samsung. The ruling came weeks after a jury found that Samsung infringed six Apple patents.
After a year of persistent struggles, BlackBerry-maker Research In Motion hopes to launch a comeback in 2013 as it works to convince customers its latest smartphones are a worthy alternative to the growing list of competitors. It's a battle that won't be won overnight, and depending on who you ask, might not be won at all.
Hewlett-Packard Co.'s stock backtracked Monday after an analyst tried to debunk speculation that the troubled technology company will be pressured into spinning off its personal computer and printer division. Deutsche Bank analyst Chris Whitmore believes it's highly unlikely HP will consider breaking itself in two.
Industrial metals prices fell Monday after manufacturing slowed in the New York area this month, reflecting a sluggish trend across the nation. Copper, silver, platinum and palladium each fell less than 1 percent. The Federal Reserve's Empire State Manufacturing Survey found that general business conditions declined in December for a fifth consecutive month.
GT Advanced Technologies Inc.'s shares sank Tuesday after the solar manufacturing company said tough market conditions will weigh heavily on its fourth-quarter and annual earnings. And next year doesn't look any better. The Nashua, N.H., company expects a loss of 5 to 10 cents per share on an adjusted basis for the quarter ending Dec. 31.
A company planning to build high-tech police cars in a vacant eastern Indiana auto parts factory says it has a second vehicle that it plans to produce in Indiana. Carbon Motors Corp. on Monday announced it will begin producing a multi-mission vehicle called the TX7 before it begins production of E7 police cars at a vacant former Visteon plant in Connersville.