Cost cuts pay off for Volvo with surprise profit rise


STOCKHOLM - Global truck maker Volvo posted a surprise rise in core quarterly profit on Friday as deep cost cuts more than made up for lacklustre demand in some major markets, sending its shares up 10 percent. | Video


Honda executive says will keep doing business with Takata 4:51am BST

TOKYO - Honda Motor Co will continue to do business with Takata Corp , a senior executive at Japan's third largest automaker said on Friday, even as defective Takata airbags threaten to expand a recall already affecting 5 million Honda cars in the United States.


Toyota sells some Tesla shares, cooperation still possible 3:16am BST

TOKYO - Toyota Motor Corp said on Friday it had sold some of its shares in Tesla Motors Inc but that it would continue to study possible cooperation with the U.S. electric car maker in the future.

GM Financial receives second subpoena into subprime auto lending 23 Oct 2014

NEW YORK - GM Financial, the in-house financing arm of General Motors Co, said on Thursday it received subpoenas in September from state attorneys general and other authorities over its subprime auto lending and securitisation practices.


Caterham F1 team on brink of failure 23 Oct 2014

LONDON - The Caterham Formula One team was on the brink of collapse on Thursday with employees locked out of the factory while past and present management traded accusations over who was to blame.


Network gear maker Nokia tops market expectations 23 Oct 2014

HELSINKI - Nokia delivered quarterly profits well above expectations on Thursday, six months after selling its struggling handset business to Microsoft in a 5.6 billion euros (4.42 billion British pounds) deal that transformed it into a pure play network equipment maker.


Mercedes-Benz narrows profit gap with German rivals 23 Oct 2014

FRANKFURT - Daimler AG lifted sales and profits at its core Mercedes-Benz luxury car division in the third quarter, showing how the group is narrowing the gap with rivals Audi and BMW.


Hyundai Motor eyes dividend hike to soothe investors; shares surge 23 Oct 2014

SEOUL - Hyundai Motor is considering paying its first ever interim dividend next year, its president said on Thursday, in an apparent bid to appease investors angered by its involvement in a $10 billion (6.24 billion pounds) purchase of a trophy property in Seoul.


Nissan recalling 260,000 vehicles globally with Takata air bags 23 Oct 2014

TOKYO - Nissan Motor Co said on Thursday it is recalling 260,000 vehicles globally due to a defect in driver-side air bags made by Takata Corp .


Honda executives to take pay cut after fifth Fit hybrid recall 23 Oct 2014

TOKYO - Honda Motor Co said on Thursday its president and 12 other executives would take an unprecedented pay cut after the Japanese automaker announced the fifth recall in a year of its new Fit model.