detroit

Qatar Airways expects Trump’s travel ban to be relaxed: report

Qatar Airways Chief Executive Akbar Al Baker on Tuesday said he expected U.S. President Donald Trump would eventually relax a travel ban targeting seven predominantly Muslim countries, New Zealand media reported. The travel ban, Trump's most controversial act since taking office last month, was halted temporarily on…

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Qatar Airways expects Trump’s travel ban to be relaxed: report

detroit

U.S. government agency sued over sale of ‘certified’ used cars

The Center for Auto Safety and five other groups filed a lawsuit against the Federal Trade Commission (FTC) on Monday for allowing used cars to be advertised as “certified” or safe despite being the target of an outstanding safety recall. The FTC reached an agreement in January 2016 with General Motors Co and two dealership companies, Jim Koons Management and Lithia Motors Inc , that allows them to advertise cars as “certified pre-owned vehicles” even though they might have an issue …

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U.S. government agency sued over sale of ‘certified’ used cars

detroit

UBS leads team of banks working on blockchain settlement system

By Jemima Kelly LONDON (Reuters) – Swiss bank UBS is leading a team of four of the world's biggest banks developing a system to enable financial markets to make payments and settle transactions quickly using blockchain technology. UBS has developed a “Utility Settlement Coin” (USC), which is a digital cash equivalent of each of the major currencies backed by central banks, such as the dollar or euro, rather than a decentralized new digital currency such as bitcoin. The USC would be convertible at parity with a…

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UBS leads team of banks working on blockchain settlement system

detroit

Daimler adopts Silicon Valley tactics to counter new rivals

Mercedes-Benz maker Daimler is embracing Silicon Valley management techniques in a drive to speed up decision making, empower staff and fend off new rivals such as electric carmaker Tesla Motors . Chief Executive Dieter Zetsche is sweeping away layers of bureaucracy and encouraging a more experimental approach to new products. The changes will be closely watched by rivals such as BMW and Audi as traditional carmakers weigh up how to respond to new technologies including autonomous driving and electric vehicles that have turned firms like Google and Tesla into rivals…

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Daimler adopts Silicon Valley tactics to counter new rivals

detroit

Brent falls to another 12-year low on oversupply gloom

By Aaron Sheldrick TOKYO (Reuters) – Crude oil fell in Asian trade on Thursday, with Brent marking another 12-year low amid gloom over a world awash with supply and concerns about global economic growth hitting equity markets. Brent dropped as far as $29.73, the lowest since February 2004 and down more than 1.5 percent. West Texas Intermediate (WTI) erased

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Brent falls to another 12-year low on oversupply gloom

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U.S. says talks will continue to reach VW diesel emissions fix

U.S. environmental officials said on Wednesday talks will continue with Volkswagen aimed at reaching an agreement on a fix for nearly 600,000 diesel vehicles that emit up to 40 times legally allowable limits. Nearly four months after the emissions scandal broke, there…

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U.S. says talks will continue to reach VW diesel emissions fix

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Icahn buying up Time Warner shares: sources

Billionaire activist investor Carl Icahn is building an equity stake in Time Warner Inc , people familiar with the matter said on Monday. Icahn's intentions when it comes to Time Warner are not yet known, the people said

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Icahn buying up Time Warner shares: sources

detroit

Porsche CEO seeks U.S. approval of diesel engine fix in January

By Andreas Cremer DETROIT (Reuters) – Porsche is confident it will win approval from U.S. authorities by the end of January for plans to bring its larger diesel models capable of cheating U.S. emissions tests in line with the law, its chief executive said on Tuesday. Proposals submitted …

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Porsche CEO seeks U.S. approval of diesel engine fix in January

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Detroit’s Big Three accelerate plans to build more small cars in Mexico

By Paul Lienert and Joseph White DETROIT (Reuters) – Detroit’s Big Three automakers are accelerating plans to produce more small cars for the North American market in Mexico as they seek to reduce labor costs, while using higher-paid U.S. workers to build their very profitable trucks, sport utility vehicles and luxury cars. New versions of several of their popular U.S. compact cars are expected to be made in Mexico, people familiar with the companies' plans …

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Detroit’s Big Three accelerate plans to build more small cars in Mexico