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Tag: motors

General Motors strike: ‘We’ve got to fight for what’s right’

General Motors strike: ‘We’ve got to fight for what’s right’

Business
Workers with picket signs mark every entrance to the General Motors plant in Flint, Michigan. With them is all the paraphernalia of a long stay - tables piled with snacks and water bottles, wood and steel bins to make fires during the night, and dozens of signs bearing the slogan "UAW on strike". It's the same picture at the Hamtramck plant just an hour's drive away, and there are similar scenes at GM facilities across the US.Nearly 49,000 workers walked out on strike on 16 September."We're prepared to be out here as long as takes," says Bill Brewer, a quality control inspector at the Flint plant.Mr Brewer has worked at GM for 42 years. This is his third strike. It's the longest one he's been on.Each day the strike costs General...
Trump threatens to cut General Motors subsidies

Trump threatens to cut General Motors subsidies

Business
Donald Trump has threatened to cut subsidies for General Motors after the largest US carmaker said it would close plants in America and layoff thousands of workers. The US president tweeted: "Very disappointed with General Motors and their CEO, Mary Barra, for closing plants in Ohio, Michigan and Maryland."Nothing being closed in Mexico and China."The US saved General Motors, and this is the THANKS we get! We are now looking at cutting all @GM subsidies, including..." Very disappointed with General Motors and their CEO, Mary Barra, for closing plants in Ohio, Michigan and Maryland. Nothing being closed in Mexico & China. The U.S. saved General Motors, and this is the THANKS we get! We are now looking at cutting all @GM subsidies, in...
Ghosn sacked as Mitsubishi Motors chairman

Ghosn sacked as Mitsubishi Motors chairman

Business
Carlos Ghosn has been sacked as chairman of Mitsubishi Motors after his arrest in Japan over misconduct claims.It follows a similar move by Nissan last week amid claims he falsely understated his salary and used company money for personal gain.Mr Ghosn, who headed an alliance of Renault, Nissan and Mitsubishi, has denied the allegations, according to media reports in Japan.He remains in detention and has not spoken publicly about the affair."During today's board meeting, it was decided that he is dismissed as chairman," the company said in a short statement. Brazil-born Mr Ghosn, aged 64, was the architect of the Renault-Nissan alliance, and brought Mitsubishi on board in 2016.He was credited with helping to stabilise the company after it was rocked by a ...
Tata Motors Finance to sell securitised loans of Rs 500 crore

Tata Motors Finance to sell securitised loans of Rs 500 crore

Finance
Mumbai: Tata Motors Finance, which funds buyers of commercial vehicles sold under the Tata badge, plans to sell securities backed by loans worth Rs 500 crore ahead of the end of the fiscal year to free up cash to lend more in FY19. The non-banking finance arm of Tata Motors will sell the securities in private transactions with banks for which the exposure lowers their priority-sector lending commitments. Fitch Ratings has assigned a 'BBB-(EXP)sf' expected rating to the issue. Securitisation is a way of pooling loan receivables and selling their related cash flows to third-party investors as securities. This frees up capital for the originator of loans as funds received as proceeds could be lent to more customers and help expand the business. Tata Motors Finance competes with larger compani...
Toyota Motors Q3 2018 Earnings Preview

Toyota Motors Q3 2018 Earnings Preview

Finance
Shutterstock photoToyota Motors ( TM ) is likely to report its Q3 2018 (Apr-Mar fiscal year) results on February 5 th 2018 . We expect the decline in the company's operating income to continue in this quarter as it faces a tough industry environment and a slowdown in Japan. For the six months ended September 2017, Toyota Motors had reported a decline of 20.3 billion yen in its operating income due to an increase in marketing activities and other expenses. The company's guidance indicates that net income is likely to decline by 18% in 2017-2018 due to a challenging industry environment.The chart below summarizes our revenue and income expectations for Toyota Motors for the calendar years 2017 and 2018:Key Trends:For the calendar year 2017, Toyota Motors' total production in Japan incr...