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Markets

Toyota recalls 1.67 million Toyota, Lexus cars

Japan's Toyota Motor Corp (7203.T) said on Wednesday it would recall a total 1.67 million vehicles globally in a voluntary move to address three separate defects including a faulty brake master cylinder that could hinder the brake's performance.

Oct 15, 2014 11:27 AM EDT

Markets

GM's third-quarter global vehicle sales up 2 percent on strong China, U.S. demand

General Motors Co's (GM.N) global sales rose 2 percent in the third quarter, driven by strong demand in the two largest auto markets in the world, China and the United States.

Markets

French bank turns to Twitter for money transfers

One of France's largest banks launched a service on Tuesday to allow its customers to transfer money to other people via tweets on social network Twitter Inc. (TWTR.N).

Markets

Citi pulls consumer banks from 11 markets, profit tops estimates

Citigroup Inc (C.N) said it would pull out of consumer banking in 11 markets, including Japan and Egypt, as the most international U.S. bank focuses on more profitable businesses.

JPMorgan posts profit as trading picks up and legal costs ease

JPMorgan Chase & Co (JPM.N) reported a third-quarter profit as the biggest U.S. bank boosted revenue from trading and investment banking, and moved past the huge legal claims that pushed it into a rare loss in the same quarter last year.

Oct 14, 2014 11:51 AM EDT

Americans face post-foreclosure hell as wages garnished, assets seized

Many thousands of Americans who lost their homes in the housing bust, but have since begun to rebuild their finances, are suddenly facing a new foreclosure nightmare: debt collectors are chasing them down for the money they still owe by freezing their bank accounts, garnishing their wages and seizing their assets.

Oct 14, 2014 11:41 AM EDT

Facing new oil glut, Saudis avoid past mistakes to halt price slide

Still haunted by its failed attempt to prevent a steep drop in oil prices by slashing production by almost three quarters in the 1980s, the world's top oil exporter Saudi Arabia is determined not to make the same mistake again.

Oct 14, 2014 11:35 AM EDT

IEA sees 2015 oil demand growth much lower, supply hitting prices

Demand for oil in 2015 will grow far slower than previously forecast as global economies remain weak, the International Energy Agency said on Tuesday, and prices may extend their sharp fall so long as OPEC shows no sign of countering a supply surge.

Oct 14, 2014 11:30 AM EDT

Deaths linked to GM ignition-switch defect rise to 27

A program to compensate victims of a faulty ignition switch in General Motors (GM.N) vehicles has approved three new death claims, bringing the total number of deaths linked so far to the switch to 27, according to a report released on Monday by the lawyer overseeing the program.

Oct 14, 2014 11:25 AM EDT

Fiat Chrysler's Wall Street debut draws muted response

Investors cautiously greeted the Wall Street debut on Monday of Fiat Chrysler Automobiles (FCA), a move that shifts the carmaker's center of gravity away from Italy and caps a decade of canny dealmaking and tough restructuring by Chief Executive Sergio Marchionne.

Oct 14, 2014 11:19 AM EDT

Chrysler recalls 184,215 SUVs for possible air bag issue

Chrysler Group said on Tuesday it is recalling an estimated 184,215 sport utility vehicles globally because a possible short circuit in a part could disable air bags and seat-belt pretensioners.

Oct 14, 2014 11:15 AM EDT

J.C. Penney names Home Depot executive to succeed CEO Ullman

J.C. Penney Co Inc (JCP.N) named Marvin Ellison, credited with resurrecting Home Depot Inc's (HD.N) U.S. business, as its next chief executive as the department store operator looks to push on since stemming a two-year long sales decline.

Oct 13, 2014 12:05 PM EDT

Exclusive: Privately, Saudis tell oil market- get used to lower prices

Saudi Arabia is quietly telling the oil market it would be comfortable with much lower oil prices for an extended period, a sharp shift in policy that may be aimed at slowing the expansion of rival producers including those in the U.S. shale patch.

Oct 13, 2014 12:00 PM EDT

In GM bankruptcy, an ex-con and hedge funds find common ground

Roger Dean Gillispie, a former General Motors security guard, spent 20 years in an Ohio prison for rape until a federal court ordered him released in 2011. Now he wants to sue GM for allegedly helping to frame him, and he’s getting support from an unlikely source: hedge funds.

Oct 13, 2014 11:50 AM EDT

FCA opens up 2.7 percent in Milan in market debut

Shares in carmaker Fiat Chrysler Automobiles (FCA) opened 2.7 percent higher on the Milan bourse on Monday, their first day of trading as a newly-merged company.

Oct 13, 2014 11:46 AM EDT

Fiat Chrysler crowns merger with Wall Street debut

Fiat Chrysler Automobiles (FCA) made its Wall Street debut to great fanfare on Monday, shifting the carmaker's center of gravity away from Italy and capping a decade of canny dealmaking and tough restructuring by CEO Sergio Marchionne.

Oct 13, 2014 11:29 AM EDT