Business

UAW leader, U.S. prosecutor discuss independent oversight for union

DETROIT (Reuters) – The United Auto Workers’ president met on Tuesday with the U.S. prosecutor heading a federal investigation into corruption at the union, and the two said they discussed reforms including possible independent oversight of future labor agreements. In a joint statement, union chief Rory Gamble and Matthew Schneider, the U.S. attorney for the […]

Business

GM CEO optimistic on U.S. demand, China, EV profitability

DETROIT (Reuters) – General Motors Co’s (GM.N) top executive struck an optimistic note on Monday about U.S. new vehicle demand despite the coronavirus pandemic, and the ability to sell electric vehicles at a profit, especially in China. “We’re cautiously optimistic” about U.S. new vehicle demand, Chief Executive Officer Mary Barra said at a virtual press […]

Business

U.S. auto sales in May encourage Detroit plan to rebuild inventories

DETROIT (Reuters) – Several automakers on Tuesday reported stronger-than-expected May sales in the United States, and the Detroit automakers said they will work through their annual summer shutdowns to rebuild inventories as demand recovers from coronavirus shutdowns. The U.S. auto sector has reopened assembly plants following the shutdown and automakers that reported May sales said […]

Business

Nissan and Renault shelve merger plans to repair their alliance: sources

(Reuters) – Renault (RENA.PA) and Nissan (7201.T) have shelved plans to push towards the full merger former leader Carlos Ghosn craved and will instead fix their troubled alliance to try to recover from the coronavirus pandemic, five senior sources told Reuters. Nissan has long resisted Renault’s proposals for a full-blown merger as executives felt the […]