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Fed Raises Interest Rates Another 0.25%
6/15/2017The Federal Reserve is raising its benchmark lending rate by one-quarter percentage point today to a range of 1.0%-1.25%, its highest level since 2008.
GM to Idle Two U.S. Plants to Cut Inventories
6/14/2017General Motors Co. plans to suspend production for five weeks at two Midwest car plants to help adjust inventories, according to The Detroit News.
FCA Said to Widen Search for Marchionne’s Successor
6/14/2017Fiat Chrysler Automobiles NV has broadened its search—though still within the company— for a CEO to succeed Sergio Marchionne in 2018, sources tell Bloomberg News.
Oil Prices Slide to 7-Month Low
6/14/2017Oil futures sagged to their lowest prices since mid-November because U.S. inventories of commercially available crude remain higher than expected.
IBM Joins BMW’s CarData Platform Project
6/14/2017IBM Corp. has joined as a pilot partner for BMW’s new CarData open data platform.
Hyundai Unveils Small Crossover
6/14/2017Hyundai Motor Co. is expanding its crossover/SUV lineup with the subcompact Kona, which will be launched later this month in South Korea.
2018 Chevy Traverse Gets Magna's Next-Gen LED Headlights
6/14/2017Magna International Inc. has developed an integrated light-emitting-diode headlight system that will debut this year on General Motors Co.'s 2018 Chevrolet Traverse crossover vehicle.
VW Workers in Slovakia to Strike for 16% Pay Hike
6/14/2017Hourly workers at Volkswagen AG’s assembly plant in Bratislava, Slovakia, have voted to begin a strike next Tuesday over demands for a 16% pay hike.
Toyota Ponders Tech Acquisitions
6/14/2017President Akio Toyoda tells shareholders that Toyota Motor Corp. may use mergers and acquisitions to gain advanced technologies needed to compete more aggressively, Reuters reports.
Michelin Buys Truck Telematics Firm
6/14/2017Tiremaker Michelin & Cie. has agreed to purchase Fleetcor Technologies Inc.’s NexTraq telematics subsidiary.