European Union's competition chief said Friday that Germany and France should avoid entering a global 'subsidy race' to bail out the ailing car industry.
Downturn in the euro-zone economy, particularly within the manufacturing sector, gathered pace in November amid mounting recession fears and the deepening financial crisis.
Lending subsidiary of General Electric says reports it had pulled out of a project to build an electric car manufacturing plant in Kentucky are false.
Sales of high-end luxury cars are bucking the trend of plummeting car sales, and their makers and industry watchers are confident they will weather the industry downturn.
Maker of Frito-Lay's and Pepsi said Thursday it plans to invest up to $3 billion in Mexico in the next five years to grow its beverages and food brands Sabritas and Gamesa there.
Computer maker plans to keep investing in Asia even as its sales growth in China slows, the computer maker's regional president said Friday.
Chief of Ford's German unit, said that while the company can survive without a bailout from the German state, it hopes the EU will help the ailing auto industry with a loan package.
Japan's second-largest automaker will reduce annual production by more than 140,000 vehicles worldwide, as it continues to grapple with slowing global demand.
Maker of Bud Light and Budweiser, now a subsidiary of Anheuser-Busch InBev since the $52 billion deal closed on Tuesday, has named its new leadership team.
German economy could lose up to 215,000 jobs in 2009 amid the global economic crisis, Germany's Bild newspaper said Friday, citing a survey it compiled.
United Auto Workers union president urged lawmakers to act immediately on loans for U.S. automakers, saying one or more of them could collapse by the end of the year without it.
Democratic leaders sidetracked legislation to bail out the auto industry and demanded the Big 3 develop a plan assuring the money would make them economically viable.
Green Car Journal named Volkswagen's 2009 Jetta TDI as the ‘Green Car of the Year’ at the Los Angeles Auto Show on Thursday, making it the first clean-diesel vehicle to win the prize.
Company says it will close its Oak Creek manufacturing and distribution plant next year, resulting in the loss of 238 jobs.
Treasury Secretary said financial crisis plaguing the world is a 'once or twice' in a 100 years event, as he warned against imposing too-strict regulations to prevent a repeat.
Europe's biggest automaker said Thursday it will focus on keeping competitive amid the financial crisis and pledged to build more efficient cars.
Bipartisan group reached a last-ditch compromise Thursday to throw Detroit's Big Three a government lifeline worth billions, but the plan faces an uphill battle.
Boat maker Brunswick Corp. said Thursday that William Naumann will come out of retirement to become chairman of its Hatteras Collection.
Pounded by a fierce financial crisis, the country is sinking deeper into economic despair, with problems likely to stretch well into next year.
Shares of General Motors soared in afternoon trading, reversing the morning's historic plummet, on news of a deal that could result in a financial bailout of the automaker industry.