Business Mar 28, 2020

GM will pay $120 million over faulty ignition switches

General Motors Co. has agreed to a $120 million settlement over faulty ignition switches that allegedly caused cars to stall and air bags to deploy, in some cases triggering fatal accidents. The deal, which must be approved by a judge, would resolve hundreds of lawsuits ...

GM loans Ohio plant buyer $40 million to launch electric truck

Business Dec 10, 2019

GM loans Ohio plant buyer $40 million to launch electric truck

General Motors Co. loaned the buyer of its half-century-old assembly plant in Ohio $40 million to help the cash-strapped startup roll out an electric pickup truck. The transaction to support Lordstown Motors Corp. and its debut model, called Endurance, is essentially a mortgage, Jim Cain, ...

GM sues Fiat Chrysler, alleging union bribery scheme cost it billions

Business Nov 21, 2019

GM sues Fiat Chrysler, alleging union bribery scheme cost it billions

General Motors Co. on Wednesday filed a racketeering lawsuit against Fiat Chrysler Automobiles NV, alleging that its rival bribed United Auto Workers (UAW) union officials over many years to corrupt the bargaining process and gain advantages, costing GM billions of dollars. GM also alleged that ...

Tesla passes GM as most valuable U.S. automaker, short sellers burned

Business Oct 25, 2019

Tesla passes GM as most valuable U.S. automaker, short sellers burned

Tesla Inc. shares soared 17 percent on Thursday after the electric carmaker surprised Wall Street by delivering on Chief Executive Officer Elon Musk's promise of a profit in the third quarter, even as doubts remained about its long-term prospects. Trading at $298, Tesla's market capitalization ...

GM workers staying on strike as members vote on new contract

Business Oct 18, 2019

GM workers staying on strike as members vote on new contract

The United Auto Workers will continue its strike against General Motors Co. until a tentative deal is ratified by its full membership, extending their walkout for at least another week. Voting on the proposed contract will begin Oct. 19 and ballots will be due by ...