City Detroit Financial News

19.12 / 15:05

Citi Target Citi cuts estimates on Ford, maintains Buy rating

Citi Research reiterated a Buy rating on Ford Motors (NYSE:F) and cut their 12-month price target on the stock to $15.00 (From $17.00) after the Detroit automaker updated guidance to reflect recent concessions made to workers following a UAW strike.

19.12 / 11:37

Manufacturing Racing Tesla President social reports Factbox-Automakers with non-union workforce race to bump pay after UAW's record deals

(Reuters) -Car companies with production facilities in the United States are bumping up pay for their non-union workers after the United Auto Workers (UAW) secured record wage hikes and benefits for union workers at the Detroit Three automakers.

15.12 / 13:25

Citi Target Landmark Citigroup reports Department shock Citi shuts once-envied muni business

Citigroup Inc. will shutter its municipal bond business, one of the most dramatic moves yet by Chief Executive Jane Fraser as she seeks to squeeze better returns out of the Wall Street giant.

11.12 / 22:51

CEO reports 2024 Ford to cut F-150 Lightning production by 50% in 2024

Automotive News reports Monday that Detroit automaker, Ford Motor (NYSE:F) has sent a memo to suppliers with plans to cut production on the company’s F-150 Lightning electric pickup truck by half in 2024.

08.12 / 14:13

Reuters economy Actor show cover reports Department US November payrolls growth hurts case for early '24 Fed cuts

NEW YORK (Reuters) — U.S. job growth accelerated in November and the unemployment rate dropped to 3.7% even as more people entered the labor force, pointing to underlying strength in the labor market.

08.12 / 11:53

Manufacturing Volkswagen Racing Experts show country 2020 ‘Asia’s Detroit’ Wants an EV Makeover. Enter: Chinese Carmakers.

RAYONG, Thailand—Ever since Nissan Motors started building cars in Thailand in the early 1960s, Japanese companies have been a driving force in the country’s rise as an auto manufacturing powerhouse. Now, Chinese competitors are moving in to bring it into the electric age. On the outskirts of Thailand’s carmaking capital, Rayong, not far from the industrial zones home to Japanese auto plants, China’s largest electric-vehicle maker, BYD, is developing what industry experts believe will be Thailand’s biggest car plant.

07.12 / 22:18

Target Volkswagen Strategy Tesla Hyundai cover testing UAW says over 1,000 workers at VW plant in Tennessee have signed cards seeking union representation

More than 1,000 workers at Volkswagen’s Tennessee factory have signed cards authorizing a vote to be represented by the United Auto Workers union

07.12 / 12:57

Provident Fox CEO President information reports GM requiring salaried workers return to office starting in January

In a speech in San Diego on Friday, President Biden said General Motors committed to going 'all electric by 3035.'

05.12 / 17:19

Manufacturing Volkswagen Highways shootings show cover 2020 US agency to watch unrecalled Takata inflators after one blows apart, injuring a driver in Chicago

U.S. auto safety regulators say they are monitoring data from a group of mostly unrecalled Takata air bag inflators after one of them exploded in a BMW and hurled metal fragments that seriously injured a driver in Chicago

04.12 / 15:01

Target Bill love show voice social Michigan advisor runs for House seat

In over three decades as a financial advisor, Diane Young has answered clients’ questions about taxes and Social Security. She’s running for Congress to influence those issues.

04.12 / 08:40

Manufacturing Tesla Highways show cover information BMW recalls SUVs after Takata air bag inflator blows apart, hurling shrapnel and injuring driver

BMW is recalling a small number of SUVs in the U.S. because the driver’s air bag inflators can blow apart in a crash, hurling metal shrapnel and possibly injuring or killing people

04.12 / 06:07

Provident Manufacturing economy President track reports travelers 2024 Economy to slow in 2024, economists see 50% recession odds: NABE

«The Drift» author provides insight on the economy and oil prices on «Kudlow.»

03.12 / 09:55

Citi Action economy Remark President 2020 volunteers Trump calls on supporters to 'guard the vote' in Democratic-run US cities

By Nathan Layne

01.12 / 00:42

Digital Manufacturing Chevrolet track GM believes it will start making money on electric vehicles in 2025 as higher margin models arrive

General Motors is losing money on every electric vehicle it sells, but the company says it’s on track to generate mid single-digit pretax profit margins in 2025 as it produces more higher margin EVs, works out kinks in battery manufacturing and sees ba...

01.12 / 00:42

Target Aware Strategy Mobile Coronavirus pandemic President Autoworkers strike cut Ford sales by 100,000 vehicles and cost company $1.7 billion in profits

Ford Motor Co. says a six-week strike by the United Auto Workers union cut sales by about 100,000 vehicles and cost the company $1.7 billion in lost profits this year

01.12 / 00:41

Manufacturing CEO Tesla Porsche show stage innovations Tesla delivers about a dozen stainless steel Cybertruck pickups as it tries to fix production woes

With manufacturing kinks still to be worked out, Tesla has delivered the first dozen or so of its futuristic Cybertruck pickups to customers

30.11 / 19:49

Target Manufacturing Action Remark Tesla Chevrolet Costs GM looks to cut EV costs while searching for profit from green vehicles

General Motors (NYSE:GM) announced Thursday that the Detroit automaker expects substantial decreases in electric vehicle manufacturing expenses by 2024 while simultaneously ramping up the production of more lucrative vehicle models.

29.11 / 22:43

Target CEO Action President travelers Costs GM says strike cost $1.1B, but it can absorb rising labor costs as it raises dividend

Clearly frustrated with its languishing share price, General Motors is announcing a massive stock buyback plan, raised its dividend and told investors it can absorb increased labor costs from a six-week autoworkers strike

29.11 / 22:43

Manufacturing economy Tesla President reports testing travelers Consumer Reports: Electric vehicles less reliable, on average, than conventional cars and trucks

Electric vehicles have proved far less reliable, on average, than gasoline-powered cars, trucks and SUVs, according to the latest survey by Consumer Reports, which found that EVs from the 2021 through 2023 model years encountered nearly 80% more proble...

29.11 / 22:43

Target Volkswagen Tesla Hyundai President cover UAW will try to organize workers at all US nonunion factories after winning new contracts in Detroit

The United Auto Workers union has announced plans to try to simultaneously organize workers at more than a dozen nonunion auto factories

29.11 / 22:07

Volkswagen Strategy Tesla Hyundai President UAW push to organize Tesla and non-union auto sector

The United Auto Workers (UAW) union announced Wednesday their plan to unionize electric vehicle maker, Tesla (NASDAQ:TSLA) as well as the entirety of the nonunion auto industry in the United States.

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