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Billionaire investor Kirk Kerkorian announced today that his investment firm Tracinda Corp. had cut its stake in General Motors from 9.9% to 7.4% by selling $462 million worth of the automaker's stock. That amounts to a sell off of 14 million shares at $33 per share. The move by Kerkorian comes ...

Toyota announced today that it will spend $373 million on a deal with Isuzu that will transfer 5.9% of the truck- and diesel-maker to the giant Japanese automaker. Toyota's goal in purchasing a stake in Isuzu is to bolster its diesel portfolio, which apparently lags behind other major automakers ...

The business world has always confounded us for being a place where one can celebrate with champagne after not posting a profit for three months, if only for the fact that you didn't lose as much money as people thought you would. Such is the case with General Motors, which today announced that it ...

"Screw you guys, I'm going home." A phrase made famous by Cartman from South Park but one that we find so apt for news coming out of General Motors this afternoon. Royally irked over the ending of alliance talks with Renault/Nissan, billionaire investor Kirk Kerkorian has announced that he won't ...

Isuzu Motors announced today that Mitsubishi Corp. has become its top shareholder after increasing its share of the automaker from 3.5 percent to 15.65 percent. Mitsubishi Corp, the huge conglomerate that also owns 13 percent of Mitsubishi Motors Corp, first scooped up a share in Isuzu when General ...

Fiat is increasing its stake in Ferrari, buying back the shares it sold to Italian investment bank Mediobanca during Fiat's financial troubles in 2002. The Turin-based auto conglomerate is the undisputed Don of the Italian car business, controlling Ferrari, Maserati, Alfa Romeo, Lancia, Iveco and ...

GM stock hit a 20-year low yesterday dipping to $18.33 before a few bottom-feeder investors who can’t pass up a good deal bolstered the stock back up to $19.06 in late afternoon trading. While all the negative news surrounding the General right now can shoulder some of the blame for this sell ...