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Porsche Holding Eyes Acquisitions As Profits Climb
8/8/2014Porsche Automobil Holding SE reports its net profit soared 17% to €1 billion in the second quarter.
China Shuts Down 268 Factories After Fatal Blast
8/8/2014Chinese safety officials have halted operations at 214 factories in Suzhou and 54 in Kunshan that process aluminum and magnesium, Reuters reports.
BMW Cuts Prices on Replacement Parts in China
8/7/2014BMW AG is the latest carmaker to announce price cuts on replacement parts in response to China's sweeping anti-trust investigation.
U.S. Trade Deficit Shrinks
8/7/2014America's trade deficit narrowed 7% to $41.5 billion from May to June, the U.S. Dept. of Commerce reports.
NHTSA Fines Hyundai $17 Million for Late Defect Report
8/7/2014Hyundai Motor Co. has agreed to pay a fine of $17 million for failing to promptly report a brake system corrosion problem in 43,500 of its 2009-2012 model Genesis large sedans.
BMW’s Profit Jumps 26%
8/7/2014BMW Group says its operating profit in the second quarter climbed to €2.6 billion from €2.1 billion in April-June 2013.
GM Vows More Diesel Models
8/7/2014Steve Kiefer, head of global powertrain for General Motors Co., tells attendees at the Management Briefing Seminars in Traverse City, Mich., that GM will expand its skimpy U.S. diesel lineup over the next several years "as appropriate and as the market accepts them." GM currently offers a diesel option in only two models in the U.S.
Chrysler Profits Jump 22%
8/7/2014Chrysler Group LLC's net income in the second quarter surged to $619 million compared with $507 million in April-June 2013, driven by a 14% hike in revenue to $20.5 billion.
China Anti-Trust Unit Queries Toyota
8/7/2014Chinese government officials who are probing anti-trust activities in the country's auto industry have questioned Toyota Motor Corp., according to Bloomberg News, which cites unnamed sources.
EU Finalizes Free-Trade Pact Terms with Canada
8/7/2014Canada and the European Union have finalized the language for a free-trade agreement that would slash tariffs between the two markets 98%, BBC News reports.