General Motors Co said on Friday the head of its European operations, Carl-Peter Forster, is leaving, three days after the automaker's decision to scrap a planned sale of its Opel unit.
Shares of Magna International Inc were up more than 12 percent on Friday, a day after it posted a surprise quarterly profit and said it would focus on its core auto-parts business after the collapse of its deal to buy a stake in General Motors Co's Opel unit.
U.S. carmaker General Motors' decision to keep its European unit Opel will benefit European taxpayers, especially in Britain, Germany and Spain, British Business Secretary Peter Mandelson said on Thursday.
Russia accused General Motors of showing the United States' scorn of business with Europe by abandoning its sale of Opel, whose German workers went on strike on Thursday.
Fiat SpA Chief Executive Sergio Marchionne on Wednesday delivered a long-awaited plan intended to turn around Chrysler over the next five years.
General Motors Co is confident that it can find the financing to keep and restructure its European Opel unit, Chief Executive Fritz Henderson said on Thursday.
German Chancellor Angela Merkel has agreed with U.S. President Barack Obama to coordinate on the future of Opel after General Motors'surprise decision to keep the unit, a German government spokesman said on Thursday.
Thousands of Opel auto workers in Germany downed tools on Thursday to show their anger at U.S. parent General Motors for its decision to abandon a Russian-backed rescue plan.
Costco Wholesale Corp reported a 5 percent increase in October same-store sales, helped by a weak U.S. dollar that helped push up international sales.
Toyota Motor Corp reported a surprise quarterly profit and slashed its annual loss forecast by more than half as sales and cost cutting beat its forecasts, putting it on track to follow Japanese rivals into the black next year.
Chrysler's new boss offered an ambitious outlook for the automaker on Wednesday, saying it would more than double sales, roll out a dozen new models built on Fiat platforms and pay back debt to U.S. taxpayers over the next five years.
General Motors' Europe head Carl-Peter Forster expects massive cuts at Opel after GM decided to hold on to the European carmaker, he was quoted saying in a German newspaper.
The mood in the global automotive industry has shifted to cautious optimism, marked by the unveiling on Wednesday of Chrysler's turnaround plan and General Motors' plan to keep its Opel unit.
General Motors' decision to keep its European unit Opel is embarrassing for German Chancellor Angela Merkel, who had lobbied for a sale, but the U.S. group's U-turn deals no lasting blow to her new government.
The abruptly scrapped sale of GM's Opel is not the first example of a deal born of the financial crisis being undone by the economic recovery, and probably won't be the last.
European Union competition regulators urged U.S. carmaker General Motors on Wednesday to draft a recovery plan for its European arm, Opel, that would ensure its long-term viability.
German Chancellor Angela Merkel agreed with Opel labour leader Klaus Franz on Wednesday that General Motors must present a plan for the European carmaker which focuses on job security, a government spokeswoman said.
The White House turned aside questions on Wednesday about the reason that General Motors decided not to sell Opel, saying that the auto company makes its own business decisions.
Adidas AG, the world's second-largest sports goods maker, is confident on consumer demand heading into the Christmas season and ahead of next year's soccer World Cup, after posting an in-line third quarter.
