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S. Korea Begins Review of GM Korea’s Finances
3/12/2018The state-run Korea Development Bank launched a due diligence process earlier today into whether to help fund a bailout for General Motors Co.’s operations in South Korea.
Volvo’s Samuelsson Named World Car Person of the Year
3/12/2018The organizers of the World Car of the Year awards have named Volvo Car Corp.
VW May Extend Diesel Buyback Plan in Germany
3/12/2018Volkswagen AG is pondering whether to extend a program in Germany that encourages owners of older diesels to trade in their vehicles on a new car.
How U.S. Tariff on Canadian Aluminum Could Hurt Automakers
3/12/2018North American carmakers are hoping the U.S. will grant Canada a permanent exemption from an impending 5% tariff on imported aluminum to avoid hampering its efforts to make cars more fuel efficient.
Melrose Hikes Bid for GKN to $11.3 Billion
3/12/2018Melrose Industries Ltd. has increased its hostile bid for British engineering company GKN plc to £8.1 billion ($11.3 billion).
U.S. Jobs Growth Jumps
3/12/2018The U.S. added 313,000 jobs in February, the biggest monthly number since July 2016, according to the Dept. of Labor.
Trump: EU Can Avoid U.S. Tariffs by Lowering Its Own Import Taxes
3/12/2018President Donald Trump says the European Union faces U.S. tariffs of 25% on steel and 10% on aluminum unless the trade bloc lowers its “horrific barriers and tariffs” on goods from the U.S.
GM Korea Warns of First-Quarter Cash Crisis
3/12/2018General Motors Co.’s operation in South Korea warns it will face a cash crisis in the current quarter without new funding from its major shareholders.
Car Sales Jump 25% in Russia
3/9/2018Sales of cars and light-duty commercial vehicles in Russia soared to 133,200 units last month from 106,800 units in February 2017, the Assn. of European Businesses reports.
Michigan Startup Touts More Efficient Seat Warmer
3/9/2018Traverse City, Michigan-based Promethient Inc. says its new Thermavance conductive heat transfer system is more efficient and durable than convective heat transfer used in most current heated seats.