2:53 PM ET Mauro Forghieri, the technical director and designer who helped Ferrari win a string of Formula One titles from the 1960s through to the 1980s, has died in Italy at the age of 87. “Legends last forever…It’s been an honour making history together. Ferrari and the world of motorsport will never forget you,”
News
Garrett Motion Inc., a key supplier of automotive turbochargers and other equipment, is exploring strategic options including a sale, people familiar with the matter told Bloomberg. The Rolle, Switzerland-based company is working with an adviser on a possible sale, said the people, who asked not to be identified because they weren’t authorized to speak publicly.
Club holdings Wells Fargo (WFC), Ford (F) and Apple (AAPL) are in the news Wednesday, with potential implications for our investment outlook. Here are the noteworthy headlines of the day, along with the Club take. Wells Fargo The news: Wells Fargo could initiate another round of layoffs at its home mortgage division amid a collapse
9:19 AM ET Associated Press The tit-for-tat war between Zak Brown and Chip Ganassi took another turn Tuesday when Arrow McLaren SP announced it had signed both a Ganassi sponsor and Tony Kanaan to drive the Indianapolis 500. Kanaan spent four seasons driving for Chip Ganassi Racing and the last two Indianapolis 500s. The 2003
Seating and electronics supplier Lear Corp. reported improved financial performance in the third quarter, fueled by better market conditions. Lear said net income increased 440 percent from a year ago to $92 million in the third quarter, while sales rose 23 percent to $5.2 billion, due primarily to improved production volumes. Core operating earnings increased
In this article LI NIO XPEV Follow your favorite stocksCREATE FREE ACCOUNT Xpeng said deliveries of its newly launched G9 SUV surged in October from September, despite a drop in the brand’s overall monthly deliveries. China News Service | China News Service | Getty Images BEIJING — Chinese electric car startup Xpeng delivered about half
9:07 AM ET Trick or treat. On Monday night, we had to choose. Something sweet to consume or something clever that someone comes up with, maybe even something we’ve never seen before? On Sunday evening at Martinsville Speedway, we weren’t forced to pick one or the other. We got it all at once. And that
Rental car company Avis Budget Group Inc. reported its best quarterly net income in its history. Avis’ net income for the third quarter was reported at $1.03 billion, a 53 percent increase from the same period a year ago. Adjusted earnings before interest, taxes, depreciation and amortization rose 38 percent from last year to $1.46
In this article 57LA-FF Follow your favorite stocksCREATE FREE ACCOUNT Germany company Sono Motors says it will bring a solar-powered electric vehicle to market in Europe in mid-2023. Sono has brought the car, called the Sion, on a tour throughout the U.S., in anticipation of its eventual domestic release. Priced at $25,000, the car is
7:08 AM ET Lewis Hamilton said Fernando Alonso questioning the value of his Formula One titles made him “giggle a little bit.” Ahead of the Mexican GP, Alonso told Dutch media that Max Verstappen’s two world titles are worth more than Hamilton’s seven because the Red Bull driver has not just beaten his teammate to
Growing Parks Automotive Group has entered a new market in Virginia with the purchase of three luxury dealerships. Parks Automotive, of Kernersville, N.C., on Sept. 12 bought Duncan Acura in Roanoke, Audi Roanoke and BMW Roanoke, all in Virginia, from Gary Duncan of Duncan Automotive Network, according to buy-sell advisory firm Tim Lamb Group of
In this article TSLA TWTR-MX Follow your favorite stocksCREATE FREE ACCOUNT The Twitter profile page belonging to Elon Musk is seen on an Apple iPhone mobile phone. Nurphoto | Nurphoto | Getty Images New Twitter owner Elon Musk has pulled more than 50 of his trusted Tesla employees, mostly software engineers from the Autopilot team,
7:07 AM ET Daniel Ricciardo said he is talking to Formula One teams about a reserve role next year and that taking a break from racing could prove to be “a blessing in disguise.” The Australian finished seventh for McLaren in Sunday’s Mexico City Grand Prix and was voted Driver of the Day by fans
A Florida woman was arrested for grand theft following an investigation into a Chevrolet dealership‘s payroll. Ariel Rutenbeck, 32, was taken into custody Wednesday for allegedly altering payroll at Dimmitt Chevrolet in Clearwater, Fla., about 20 miles west of Tampa, according to an arrest affidavit from Clearwater Police Department. As one of two people with
In this article TSP Follow your favorite stocksCREATE FREE ACCOUNT TuSimple, partly owned by UPS, makes self-driving trucks, a technology that may be among the innovations to help lower longer-run inflation in the transport sector. Source: TuSimple Self-driving truck startup TuSimple has fired its CEO, Xiaodi Hou, after an internal investigation found improper dealings and
8:54 PM ET Max Verstappen refused to talk to Sky Sports at the Mexican Grand Prix due to what he perceives to be disrespectful coverage of his first F1 title win, saying “I’m not going to tolerate it anymore”. The reigning two-time champion did not talk to the UK broadcaster at the Mexico City race,
A company extended into the next generation Aug. 1 when Mike Shannon sold Holiday Automotive in Fond du Lac, Wis., to his son, Michael Shannon Jr., according to Scott Mackie of buy-sell firm National Business Brokers. The younger Michael Shannon bought three franchised dealerships: Holiday Chevrolet-Buick-GMC-Cadillac, Holiday Mazda and Holiday Ford. A used-car store and
This earnings season has been a tough one for our big technology stocks — and as a result, we’ve lowered several of our price targets based on the companies’ latest quarterly reports, forward guidance and commentary. The current rising interest rate environment and the strong U.S. dollar — another 75-basis-point rate hike by the Federal