COMPANIES

The vote on Magna International Inc's plan to pay its founder nearly $900 million to give up his controlling shares will go ahead, but only after the company complies with an order by an Ontario regulator to give shareholders more information on the deal.

Volkswagen plans to shake up its management at Porsche SE, as it looks to strengthen its hold on the automaker.

Premium-car maker Volvo, which Ford is selling to China's Zhejiang Geely, has hired the head of Volkswagen's North America business as its chief executive.

Freddie Mac, the second largest purchaser of residential mortgages, said it shrank its investment portfolio in May, while the delinquency rates on loans it guarantees were mixed at elevated levels.

The E 300 L is actually the first model that Daimler developed specifically for the Chinese market

Honda Motor Co 's new hybrid car will cost one fifth less than the cheapest hybrid on the Japanese market, according to a newspaper report -- a move that may make hybrids low profit margin models for automakers.

Auto maker Zhejiang Geely said on Thursday it was teaming up with Chinese regional asset manager Daqing State Asset Operation Co in its planned $1.8 billion takeover of Ford Motor Co's Volvo Cars unit.

Ford Motor Co plans to invest $450 million to build a new manufacturing plant in Thailand, with the bulk of the output destined for export markets as part of its expansion in Asia Pacific.

Mortgage rates dropped in the past week, with 30-year fixed-rate loans tumbling to their lowest level in 39 years, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.

The U.S. first-time homebuyer credit, aimed at boosting demand amid the recession, is still beset by significant scamming, though authorities made some progress rooting out fraud, a federal watchdog said.

Honda Motor Co halted production at a car making factory in southern China on Wednesday, making it the second car maker after Toyota Motor Corp to turn off assembly lines because of a strike at a supplier owned by Japan's Denso Corp.

Honda Motor Co said production at Chinese joint venture Guangqi Honda's two factories would resume on Thursday after a one-day disruption caused by a strike, now ended, at a Chinese factory of Japan's NHK Spring (5991.T).

Car maker Fiat SpA stopped short of sealing its near $1 billion investment for the survival of its Naples plant after less than full labor support for plans to boost productivity there.

German premium carmaker BMW is sticking to a single digit percent 2010 sales growth forecast, despite outperforming in the first five months, as tougher comparatives and global fiscal changes kick in.

Japanese auto makers Toyota and Honda said major car factories in south China halted work on Wednesday due to strikes at parts suppliers, as worker discontent continued to jolt the industry and unnerve investors.

Some of the states hit hardest by the slump in housing prices will be able to tap into a special $1.5-billion fund on Wednesday that is intended to head off some foreclosures.

Mortgage applications fell from a six-month peak last week as the lowest interest rates in over a year failed to foster demand for refinancing or home purchase loans.

U.S. automakers oppose raising the blend of ethanol in gasoline from the current 10 percent, saying cars won't run as well on higher blends, but Brazil's experience shows their arguments are weak.

A strike at a Japanese car parts supplier in southern China forced Toyota Motor Corp to suspend production at a Chinese auto assembly plant on Tuesday, the latest in a string of labor-related disruptions at foreign-owned manufacturers across the country.

U.S. automakers oppose raising the blend of ethanol in gasoline from the current 10 percent, saying cars won't run as well on higher blends, but Brazil's experience shows their arguments are weak.

Japanese carmaker Toyota UK and French utility EDF are starting three year trial of the Plug-In hybrid Prius car in Britain, the companies said on Monday.

Some low-risk home loans that meet certain underwriting guidelines will no longer be eligible for an exemption from a broader rule requiring so-called skin-in-the-game if House Financial Services Committee Chairman Barney Frank gets his way as lawmakers put the final touches on new rules for Wall Street.

A debt package tied to a New York office tower will be the first of its kind to tap property securitization and public finance markets together, sources close to the deal said on Monday.

For avid gardeners, the ultimate luxury is a designated garden shed for corralling tools and accessories; preferably with a utility sink for tidying up. Here's a roundup of a few outbuildings spotted in the portfolios of architects we admire.

Toyota Motor Corp is resuming construction of a plant in Mississippi that was put on hold during the economic downturn, and plans to make its top-selling Corolla sedan there starting in autumn 2011.

Ford Motor Co ranked No. 1 for new car quality among mass-market brands while recall-hit Toyota Motor Corp plunged in a closely watched quality survey released on Thursday.

U.S. authorities have charged 1,215 people in hundreds of mortgage fraud cases that resulted in estimated losses of $2.3 billion, top Obama administration officials said on Thursday, unveiling a crackdown after the housing market collapse.

A broad rewrite of financial rules will make it tougher to get a mortgage, but Congress may not be going far enough to crack down on the easy home loans at the heart of the financial meltdown.

Mortgage rates held steady at or near record lows in the latest week, home funding company Freddie Mac said on Thursday, with new housing data indicating market momentum is muted.