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US officials probe Corvette headlamp problem
U.S. auto safety regulators are investigating complaints that the low-beam headlights can go dark without warning on some Chevrolet Corvettes. The probe by the National Highway Traffic Safety Administration covers more than 103,000 Corvettes from the 2005 through 2007 model years. The agency says it has gotten 30 complaints from ...
Senators seek ban on renting recalled vehicles
Rental companies would be barred from leasing or selling vehicles to consumers that are under a manufacturer's recall until the defect is fixed under a bill introduced Thursday by a bipartisan group of senators. Alaska Republican Lisa Murkowski joined Democrats Chuck Schumer of New York, Barbara Boxer of California and ...
Van maker backed by Energy Dept. loans shuts down
A Michigan company that received a $50 million federal loan to make vans for the disabled has stopped production and laid off its 100 workers. Vehicle Production Group, or VPG, suspended operations in February after its finances dipped below a minimum level required as a condition of the federal loan. ...
Tesla Model S gets Consumer Reports' top score
The Tesla Motors Inc. Model S electric car has tied an older Lexus for the highest score ever recorded in Consumer Reports magazine's automotive testing. The Model S, which starts at $62,400 after a federal tax credit, scored 99 points on a scale of 100 in the magazine's battery of ...
China's April auto sales rise 13 percent
China's auto sales rose 13 percent in April despite concern about a weak economic recovery and Japanese brands suffered less severe declines, an industry group reported Thursday. Customers in the world's biggest auto market bought 1.4 million cars, the China Association of Automobile Manufacturers said. It said total auto sales ...
SKorea's central bank cuts key rate to 2.5 percent
South Korea's central bank on Thursday cut its benchmark interest rate for the first time in seven months, joining government efforts to boost the export-reliant economy as manufacturers such as Hyundai Motor Co. face tougher competition from Japanese rivals boosted by the weakening yen. The quarter percentage point cut in ...
Asia stocks rise after Dow hits another record
Asian stock markets rose Thursday on the heels of another record high on Wall Street and an interest rate cut in South Korea to boost economic growth. South Korea's Kospi index rose 0.8 percent to 1,972.70 after the Bank of Korea lowered its benchmark interest rate for the first time ...
Ferrari to limit sales to boost brand exclusivity
Ferrari will limit sales of its high-performance street cars this year to protect the brand's aura of exclusivity, Chairman Luca Montezemolo said Wednesday. Wealthy people around the world are snapping up Ferrari's and the company is worried the brand might lose its appeal as a symbol of rarefied luxury. As ...
Germany plans tighter control of managers' pay
The German government plans to give company shareholders a greater say in setting managers' pay — a proposal aimed at curbing perceived corporate excesses along the same lines as a measure approved by voters in neighboring Switzerland earlier this year. Chancellor Angela Merkel's government hopes to pass Wednesday's Cabinet proposal ...
Toyota profit more than doubles on yen, cost cuts
Toyota's quarterly profit more than doubled to 313.9 billion yen ($3.2 billion) as cost cuts and better sales worked with a weakening yen to add momentum to the automaker's comeback. Toyota Motor Corp., which last year reclaimed the title of world's top-selling automaker, said Wednesday it expects the strong results ...
GM says China approves new Cadillac factory
General Motors Co. said Wednesday its main Chinese joint venture has received government approval to build a Cadillac factory as part of GM's efforts to expand its share of China's luxury auto market. Plans call for the 8 billion yuan ($1.3 billion) factory in Shanghai to begin production in 2015 ...
China's struggling automakers jump on SUV boom
BYD is known for electric cars but this year's flagship model is the S7, a gasoline-powered SUV. It comes with an interior air purifier, radar to help with backing and digital TV. An onboard hard drive can hold 1,000 films. This is China's Year of the SUV. Whatever their specialties ...
Calif. limo fire kills 5 nurses; friends grieve
From the privacy of their bedrooms to the public bustle of busy hospital wards, families and friends Tuesday struggled with the heartbreak of losing five loved ones, all nurses, who died Saturday in a burning limousine. Outside the Fruitvale HealthCare Center, the medical center where all nine met and became ...
US consumers cut back on credit card use in March
Americans cut back on using their credit cards in March, suggesting many were reluctant to take on high-interest debt to make purchases. Consumer borrowing rose just $8 billion in March from February to a seasonally adjusted $2.81 trillion, the Federal Reserve said Tuesday. It was the smallest increase in eight ...
Limo driver: Fire took 3 minutes to claim 5 lives
First came the tapping. Over the blasting music, limo driver Orville Brown heard someone in the backseat knock on the partition behind him, saying something about smoke. No smoking allowed, he told the crowd of partying women. Then the taps turned to urgent knocks, and someone screamed "Smoke, smoke" and ...
Wal-Mart Stores takes back top spot in Fortune 500
Wal-Mart Stores Inc. once again leads Fortune's list of the 500 biggest U.S. companies by revenue, as the world's largest retailer succeeded in posting strong growth despite a challenging economy for its shoppers. The Bentonville, Ark., company's revenue grew nearly 6 percent in 2012 to $469.2 billion. Exxon Mobil Corp. ...
In Calif, some ships plug in to power up
In less than a year, many of the towering cargo ships loading and unloading goods at California ports won't just tie up at dock — they'll also plug in. In January, the state will become the first government body in the world to require container fleets docking at its major ...
Minnesota Supreme Court hears open records case
A case before the Minnesota Supreme Court has broad implications on whether documents held by a private company should be made public if the work the firm is doing is funded by taxpayers. Johnson Controls, Inc., of Milwaukee, is managing a $79 million construction project for St. Louis County schools. ...
GM recalls 38,197 cars for battery control defect
General Motors Co. is recalling 38,197 Chevrolet Malibu Eco, Buick LaCrosse and Buick Regal sedans in the U.S. because a defective battery control module could stall the engine or cause a fire. Vehicles from the 2012 and 2013 model years equipped with GM's eAssist hybrid system are affected. Vehicles built ...
New technology propels 'old energy' boom
Technology created an energy revolution over the past decade — just not the one we expected. By now, cars were supposed to be running on fuel made from plant waste or algae — or powered by hydrogen or cheap batteries that burned nothing at all. Electricity would be generated with ...
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