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S&P Cuts Russia’s Credit Rating to “Junk”
1/27/2015Russia's credit rating has been dropped below investment grade by New York City-based Standard & Poor's Ratings Services.
Oil Prices May Have Bottomed Out
1/27/2015Crude oil futures may have ended the decline that has slashed the price of petroleum nearly 60% since last summer.
Toyota to Base Worker Pay More on Merit, Less on Seniority
1/26/2015Toyota Motor Corp. wants to change the way it pays workers in Japan to put more emphasis on performance and less on seniority, The Nikkei reports.
Dana Sells Its Venezuelan Operations
1/26/2015Dana Holding Corp. has pulled out of Venezuela, selling two factories there and taking a net $77 million fourth-quarter charge related to the divestiture.
Winkler to Head Bentley in the Americas
1/26/2015Volkswagen AG's Bentley Motors unit has named Michael Winkler to head its Bentley Motors Inc. unit, headquartered in the U.S.
VW Agrees with Dealers on Lower Sales Targets in China
1/26/2015Volkswagen AG confirms it has reached accord with its dealers in China to set more realistic future sales targets for them, Bloomberg News reports.
UPDATE: GM Ignition-Switch Fund Raises Eligible Death Claims to 50
1/26/2015The General Motors Co. fund set up last August to compensate victims of the company's defective ignition switches has raised the number of eligible death claims by five to 50.
Kia Recalls Forte Sedans to Fix Fire Hazard
1/26/2015Next month Kia Motors Corp. plans to begin recalling 86,900 of its 2014 model Forte sedans in the U.S. to replace an engine cooling fan resistor that could overheat, melt and cause a fire.
Nissan-Mitsubishi D-Segment Sedan Project Suspended
1/26/2015Plans for the Renault-Nissan alliance to produce a D-segment sedan for Mitsubishi Motors Corp. to market in North America have been suspended, Automotive News reports.
Euro Sags to an 11-Year Low
1/26/2015The euro weakened sharply against the U.S. dollar over the weekend after Greece's likely new Prime Minister Alexis Tsipras vowed to renegotiate the country's debt.