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 ...

Seeing rough road ahead, Ford sheds 7,000 white-collar jobs

Business / Corporate May 21, 2019

Seeing rough road ahead, Ford sheds 7,000 white-collar jobs

Ford revealed details of its long-awaited restructuring plan Monday as it prepared for a future of electric and autonomous vehicles by parting ways with 7,000 white-collar workers worldwide, about 10 percent of its global salaried workforce. The major revamp, which had been underway since last ...

GM will sell Lordstown plant and invest in Ohio, says Trump

Business May 9, 2019

GM will sell Lordstown plant and invest in Ohio, says Trump

General Motors Co. moved to solve two major political headaches on Wednesday as U.S. President Donald Trump announced the Detroit automaker will sell its Lordstown, Ohio, plant to a company to build electric trucks, while GM said it would maintain some operations at a ...