Author Archive

Porsche merger with Volkswagon crashes

Linda Young – AHN News Writer Berlin, Germany (AHN) – A planned merger between Porsche and Volkswagen has fallen apart. The announcement caused shares of Porsche to trade by 10.95 percent lower at the close of trading on Friday while Volkswagen shares fell by 0.8 percent. Volkswagen announced late Thursday that the companies would not [...]

Saab Auto files for protection from creditors

Vittorio Hernandez – AHN News Stockholm, Sweden (AHN) – Swedish Automobile filed with the Vaenersborg District Court for bankruptcy protection on Tuesday in a bid to secure short-term stability while generating additional funding. Saab, which has been in vehicle manufacturing for 64 years, stopped production in the middle of this year after its suppliers halted [...]

One billion cars traveling world’s streets

Diane Alter – AHN News Trivia Writer New York, NY, United States (AHN) – Patience is something you admire in the car behind you and scorn in the one ahead. A new report from Wards Auto claims there are more than 1 billion cars now traveling the world’s streets. And most of them are in [...]

Goodyear introduces self-inflating tires

Vittorio Hernandez – AHN News Akron, OH, United States (AHN) – Goodyear Tire and Rubber Company launched on Thursday a self-inflating tire. The tires have a device to keep track of its inflation and add air when necessary. Under the company’s Air Maintenance Technology, tires would always remain inflated at optimum pressure. There would be [...]

Ford posts $2.4b Q2 net income

Linda Young – AHN News Writer Dearborn, MI, United States (AHN) – American automotive company Ford made $2.4 billion in net income during the second quarter, but that was down from the $2.6 billion it earned during the same quarter a year ago. However, the company’s earnings still beat Wall Street’s expectations and Ford’s shares [...]

Volkswagon sells record 4 million cars worldwide during first half of year

Linda Young – AHN News Writer Wolfsburg, Germany (AHN) – Germany’s Volkswagen group announced record-high sales of more than 4 million vehicles during the first six months of the year. That represented a 14 percent increase from the same period a year earlier. Volkswagen experienced strong growth in Asian markets as well as North American [...]

Washington targets average 56.2 miles per gallon for new American cars by 2025

Vittorio Hernandez – AHN News Washington, D.C., United States (AHN) – The U.S. federal government is proposing new regulations that would require American vehicle manufacturers to produce cars that would have an average 56.2 miles per gallon by 2025. That would mean fuel efficiency would go up almost 5 percent yearly from 2017 to 2025. [...]

Volkswagen postpones  MAN supervisory board takeover

Kris Alingod – AHN News Contributor Wolfsburg, Germany (AHN) – Volkswagen on Monday postponed its appointment of executives to truckmaker MAN’s supervisory board following advise from the European Union. The Wolfsburg-based company said it is in “constructive discussions” with the EU Commission after the panel said the appointments should be made after anti-trust clearance of [...]

Honda forecasts 63.5 percent drop in profit

Vittorio Hernandez – AHN News Tokyo, Japan (AHN) – Honda Motors forecast on Tuesday a 63.5 percent drop in its profit for fiscal year 2011. The third-largest carmaker in Japan projected a $2.4 billion (JPY 195 billion) group net profit. The company said the drop is because of a production decline caused by the magnitude [...]

FDA unveils new cigarette packaging labels

The U.S. Department of Health and Human Services on Tuesday unveiled a series of graphic images and messages that will cover the top portion of every cigarette package in the United States starting in September. Article © AHN – All Rights Reserved View full post on Economy, Business And Finance Stories

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