General Motors (GM) Hyundai in talks to acquire GM’s India plant

Beep Inc. partners with North Carolina for Autonomous Vehicle Testing Projects

March 14, 2023 12:21 PM EDT

Autonomous and shared mobility solutions company, Beep Inc. announced Tuesday that the company has entered a partnership with North Carolinas Department of Transportation (NCDOT).

This partnership expands NCDOTs Connected Autonomous Shuttle Supporting Innovation (CASSI) program to further the states understanding of autonomous technologies and demonstrate the viability of shared autonomy. NCDOT and Beep will test applicable use cases for shared electric and autonomous shuttles.

The first pilot project will operate in... More

Ford Motor and GM 'continue to drive the core to future transition' - BofA

March 13, 2023 8:56 AM EDT

The General Motors (NYSE: GM) and Ford Motor (NYSE: F) restructuring plans are "chapters in Core to Future transition," BofA analyst John Murphy said in a note Monday.

The analyst, who maintained a Buy rating on both companies, stated that the plans were not big news but needed.

"In recent days, General Motors (GM) has provided additional color... More

SVB Financial, Gap, Oracle and DocuSign fall premarket; Roblox rises

March 10, 2023 8:02 AM EST

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Friday, March 10th. Please refresh for updates.

SVB Financial (NASDAQ: SIVB) stock fell 44%, adding to Thursdays rout after the lender announced a $2.25 billion equity raise following the announcement of a $1.8B net loss and negative annual and first quarter guidance, hurt by the impact from higher interest rates.

Apple (NASDAQ:... More

S&P 500 slumps as SVB Financial leads rout in banks ahead of Friday's jobs data

March 9, 2023 3:24 PM EST

By Yasin Ebrahim

Investing.com -- The S&P 500 slumped Thursday, pressured by an SIVB-led slump in banking stocks just as investors remain on edge ahead of Fridays jobs report that many fear could come in hot and cement the return of aggressive Federal Reserve rate hikes.

The S&P 500 fell 0.3%, the Dow Jones Industrial Average fell 0.3%, or 184 points, the Nasdaq Composite was down 0.1%.

SVB Financial Group (NASDAQ: SIVB) slumped more than 55% after the bank announced a $2.25... More

Midday movers: Silvergate Capital, SVB Financial, General Motors and more

March 9, 2023 2:01 PM EST

By Liz Moyer

Investing.com -- Stocks are falling on Thursday ahead of a key economic report that could guide the Federal Reserve's decision on interest rates later this month. Here are the midday movers for March 9.

... More

General Motors (GM) expects $1.5B charge after announcing voluntary separation program

March 9, 2023 9:28 AM EST

General Motors (NYSE: GM) announced in its 8-K filing on Thursday a voluntary separation program in an effort to accelerate the normal attrition process and the resulting cost savings. The program is part of a January announcement where the company said it intends... More

GM offers salaried employee buyouts, will take up to $1.5 billion charge

March 9, 2023 9:16 AM EST

By David Shepardson and Nathan Gomes

(Reuters) -General Motors Co on Thursday said it was offering buyouts for most of its salaried employees and expects to take a pre-tax charge of up to $1.5 billion to cover the costs.

The announcement comes as layoffs by U.S. companies in the past two months touch their highest since 2009, with the tech sector accounting for more than a third of the over 180,000 job cuts announced.

The largest U.S. automaker in January disclosed a $2 billion cost cut target, including reducing employment through attrition.

... More

GM (GM) announced voluntary separation program

March 9, 2023 9:04 AM EST

General Motors (NYSE: GM) disclosed:

On January 31, 2023, General Motors Company (the Company) announced its intention to implement a cost reduction program to reduce fixed costs by $2.0 billion on an annual run rate basis by 2024 (the Program), with 30% to 50% of these savings expected during 2023 and the full amount expected in 2024. The Program is expected to drive cost efficiencies by (i) reducing vehicle complexity and expanding the use of shared subsystems... More