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Warren Buffett Hikes His GM Stake
2/17/2013Billionaire investor Warren Buffet's Berkshire Hathaway Inc. has purchased an additional 10 million shares of General Motors Co., thus boosting its holding to 25 million shares, or about a 1.8% stake.
Lear Shareholders Name Activist Candidates to Board
2/17/2013Two activist investors have notified Lear Corp. of their three nominees for the company's board of directors.
Auto Parts Price-Fixing Probe Expands
2/17/2013The U.S. Dept. of Justice says its broad investigation of bid rigging by auto suppliers has grown to encompass more companies and parts segments as new evidence is discovered.
BMW Widens Brake Boost Recall
2/15/2013BMW AG is recalling 30,200 of its 2007-2010 mode3l X5 crossover vehicles to replace a brake vacuum line that could contribute to brake boost failure.
TRW Quarterly, Annual Profits Dip As Sales Flatten
2/15/2013TRW Automotive Holdings Corp. netted $419 million in the fourth quarter compared with $425 million in the same period of 2011.
Tata Profit Plunges 52% As Sales Flatten
2/15/2013Tata Motors Ltd. posted revenue of 458.2 billion rupees ($8.5 billion) in the fiscal third quarter ended Dec. 31, up 1% from the same period in 2011.
Tata Profit Plummets As Boost from JLR Shrinks
2/15/2013Tata Motors Ltd. revenue slid 1% to 458.2 billion rupees (€6.4 billion) in the fiscal third quarter ended Dec. 31 compared to the same period in 2011.
UAW Profit-Sharing Bonuses Climb
2/15/2013U.S. domestic carmakers will pay combined profit sharing of about $780 million this spring to the roughly 122,000 member of the United Auto Workers union they employ.
Land Rover to Drop V-8 in U.S.
2/15/2013Land Rover will discontinue it 5.0-liter V-8 engine and substitute a 3.0-liter supercharged V-6 when 2014 versions of its base- and HSE-level Ranger Rover SUVs debut in the U.S. this autumn, according to Oval News.
Toyota Settles State Acceleration Claims
2/15/2013Toyota Motor Co. says it has reached an agreement with the attorneys general of 29 U.S. states and the territory of Samoa to resolve complaints about the way the company handled vehicle recalls between 2005 and 2010.