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Trump car tariffs could run European convertibles off U.S. roads

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In the years before he became president of the United States, Donald Trump owned luxury German cars. Now, pricey European convertibles are among the vehicles that could become rare on American roads if Trump's proposal to slap tariffs on imported cars takes effect.

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Exclusive - Tesla to close a dozen solar facilities in nine states: documents

LOS ANGELES/SAN FRANCISCO Electric car maker Tesla Inc's move last week to cut 9 percent of its workforce will sharply downsize the residential solar business it bought two years ago in a controversial $2.6 billion deal, according to three internal company documents and seven current and former Tesla solar employees. | Video

Top News, Business, Tech 23 Jun 2018
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VW may seek damages from ex-CEO Winterkorn over dieselgate

FRANKFURT Volkswagen is reviewing whether to seek damages from former Chief Executive Martin Winterkorn, who was at the helm when it emerged the carmaker had cheated on emissions tests, supervisory board member Stephan Weil told a newspaper.

23 Jun 2018
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'Zero' chance of Renault taking over Nissan, Mitsubishi: Ghosn

TOKYO Renault SA absorbing Nissan Motor Co. and Mitsubishi Motors Corp is not an option as the carmakers look to strengthen their partnership while retaining their autonomy, alliance chairman Carlos Ghosn said on Friday.

22 Jun 2018
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Volkswagen Truck & Bus says no decision yet on listing

FRANKFURT Proceeds of more than 6 billion euros ($6.9 bln) would flow to parent Volkswagen AG if it decides to list its truck and bus subsidiary, the division's chief executive told Manager Magazin as he set out the company's ambitions.

21 Jun 2018
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China-U.S. trade war hits Daimler profit, may sweep sector

FRANKFURT Germany's Daimler cut its 2018 profit forecast and BMW said it was looking at "strategic options" because of a trade war between China and the United States, sparking fears of a wave of earnings downgrades in the auto industry. | Video

21 Jun 2018
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Exclusive: Toyota, pressed to innovate, is cutting marketing costs to fuel research

BEIJING Toyota has begun slashing costs, starting with sales and marketing, and shifting resources into research that will help it keep up with new competitors, four people familiar with the matter said.

21 Jun 2018
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Bosch to invest 17 billion rupees in India over next 3 years

German auto parts maker Bosch Group plans to invest 17 billion rupees ($250 million) in India over the next three years to meet growing demand in the domestic automotive market, Chief Executive Officer Volkmar Denner said on Wednesday.

20 Jun 2018

Business News

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Saudi Aramco CEO says has 2 million barrels per day of spare capacity

NEW DELHI Oil giant Saudi Aramco said on Monday it has a spare capacity of 2 million barrels per day and can meet additional oil demand in case of any interruption in supplies.

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U.S. plans limits on Chinese investment in U.S. technology firms

WASHINGTON The U.S. Treasury Department is drafting curbs that would block firms with at least 25 percent Chinese ownership from buying U.S. companies with "industrially significant technology," a government official briefed on the matter said on Sunday.

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Uber battles to keep London licence in court appeal

LONDON Uber went to court on Monday to overturn a decision stripping it of its licence in London after being ruled unfit to run a taxi service in its most important European market. | Video

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Shell, Exxon not to seek compensation for end of Groningen gas production: government

AMSTERDAM Energy companies Royal Dutch Shell and Exxon Mobil will not submit a claim for missed revenue due to the Dutch government's decision to halt gas production at the Groningen field by 2030, the Dutch ministry of Economic Affairs said on Monday.