Canada’s notoriously oligopolistic big banks have long dominated the financial industry largely thanks to one simple fact: There’s just six of them. But they could soon become seven if a one sleepy Crown corp has its way.
FRANKFURT: Volkswagen on Tuesday revealed a plan to refit millions of vehicles affected by a worldwide pollution-cheating scam, as its new chief vowed to act ruthlessly to overcome the "severest test" in the car giant's history. The German government has given VW until October 7 to explain how it will resolve the scandal, which has wiped 29 billion euros ($33 billion), or 38 percent, off VW's market value in 10 days. Chief executive Matthias Mueller, who took the Volkswagen steering wheel on Friday, told senior management that technical solutions would be submitted in October.
SHANGHAI — General Motors Co’s China joint venture will recall close to 1.5 million vehicles due to potential safety issues in one of the biggest recalls in the world’s biggest autos market.
Shanghai General Motors Co Ltd, GM’s venture with SAIC Motor Corp, will recall about 1.46 million Buick and Chevrolet models produced locally due to issues with a bracket that secures the fuel pump, the country’s quality watchdog said on Friday.
Some of the recalled vehicles include the Chevy Sail which is exported to emerging markets, a Shanghai-based GM official said.
SHANGHAI (Reuters) - General Motors Co <GM.N> and its China joint venture partner will recall close to 1.5 million vehicles due to potential safety issues in one of the biggest recalls in the world's biggest autos market.
Japan's earthquake and tsunami disasters have cast a pall over the Shanghai auto show, where industry heavyweights are fretting over just how long the resulting supply disruptions will last.Output from Japanese manufacturers has been cut by more than 500,000 vehicles since the devastating earthquake and ensuing tsunami struck on March 11, and that number could rise to one million, auto experts said.