Autos
'Party's over' for millions, as India launches biggest-ever tax reform
NEW DELHI Rakesh Sachdeva sells auto parts in a busy market in central Delhi, just a few miles from Prime Minister Narendra Modi's office. Yet despite having a flourishing business he does not pay any tax.
Stuttgart prosecutors probe Porsche, Bosch about diesel emissions
FRANKFURT Prosecutors in Stuttgart have launched a preliminary probe against employees at German sportscar maker Porsche AG to see whether they were involved in designing engine management software to cheat emissions tests.
U.S. judge allows some VW investor diesel claims to proceed
WASHINGTON A federal judge in California on Wednesday allowed some claims to proceed by investors who sued Volkswagen AG over its diesel emissions scandal, but agreed to the German automaker's request to dismiss parts of the lawsuit.
Drive.ai raises $50 million in funding; Andrew Ng joins board
SAN FRANCISCO Self-driving startup Drive.ai said on Tuesday it raised $50 million in a second round of funding as the Silicon Valley company prepared to deploy its technology in pilot vehicles later this year.
U.S. plaintiffs' lawyers warn of automaker role in Takata bankruptcy
WILMINGTON, Del. Lawyers for people injured by exploding Takata Corp air bags told a U.S. bankruptcy court judge on Tuesday that the company's restructuring plan is being skewed to benefit automakers over victims.
Germany plans new emissions testing body after Volkswagen scandal
BERLIN Germany will set up a new organisation to test vehicle emissions to try to restore consumer confidence after Volkswagen's emissions scandal revealed an industry-wide pollution problem, the transport ministry said on Tuesday.
GM lowers outlook for U.S. 2017 new vehicle sales
DETROIT General Motors Co now expects U.S. new vehicle sales in 2017 will be in the "low 17 million" unit range, reflecting a widespread expectation that the industry is headed for a moderate downturn, a top executive said on Monday.
GM lowers outlook for U.S. 2017 new vehicle sales
DETROIT General Motors Co now expects U.S. new vehicle sales in 2017 will be in the "low 17 million" unit range, reflecting a widespread expectation that the industry is headed for a moderate downturn, a top executive said on Monday.
Business News
Global equity listings up by a third, but below previous peaks
LONDON Global equity listings rose sharply in the first half of the year, compared with a year earlier, driven by the U.S. market as well as rights issues in Europe, Thomson Reuters data showed, but remained way off 2015's surge.
Europe M&A; surges but U.S. slows sharply amid uncertainty
Acquisitions of European companies surged in recent months, amid optimism about the region's economic prospects, but global deal-making subsided and the total value of U.S. deals fell sharply due to uncertainty about President Donald Trump's tax reform and deregulation agenda.
Asia share sales on growth path, Hong Kong to reclaim top spot in IPO rankings
HONG KONG Share sales in Asia ex-Japan have picked up pace this year and are set to rise sharply in the coming months, with $10 billion listings from two Chinese firms expected to reinstate Hong Kong as the world's top IPO destination, bankers and analysts said.
U.S. Fed needs solid data to keep diverging from central bank peers - Bullard
LONDON The U.S. Federal Reserve needs solid data to maintain a monetary policy that diverges from the world's other major developed economies, St. Louis Federal Reserve chief James Bullard said on Thursday.