Sergio Marchionne is hinting that a hostile takeover attempt could be in the cards to get GM at least to consider a merger with FCA. He believes the combined companies could have earnings of $30 billion annually.
Uber's rapid ascent is only going to continue, according to company data for investors obtained by Reuters. The ridesharing service predicts bookings to triple in 2015 and 2016, and an IPO might be on the way in that time.
Former Porsche SE execs, including Wendelin Wiedeking, Holger Haerter, and now Anton Hunger, have been indicted for alleged stock manipulation during the failed takeover of Volkswagen. Prosecutors dropped charges against Ferdinand Piech and Wolfgang Porsche.
Kandi Reports Quarterly Earnings; DriveNow To Franchise
Sebastien Buemi sets a new lap record at Donington Park. Taxi Hochelaga to launch 2,000 electric taxis in Montreal. DriveNow is open to franchising. Kandi reports $5.4 million in second-quarter income.
The Flint plant that handles assembly of the Chevy Silverado and GMC Sierra is getting an $877-million investment, primarily for a new body shop. It'll be the last part of the $5.4-billion fund announced in May.
Suzuki and Volkswagen look to finally free themselves from their troubled partnership. At the same time, a hedge fund is buying up a portion of the Japanese automaker due to the company's strength in India.