Kris Alingod – AHN News Contributor
Trollhattan, Sweden (AHN) – The owner of troubled automaker Saab on Monday said it has issued 4 million shares, the second time this month the company has sold shares to raise cash to resume production and pay wages. Swedish Automobile, formerly called Spyker Cars, said in a statement the price and number of shares to be issued will depend on a 10-day pricing period that began on Monday. The shares were issued under a EUR 150 million equity facility with GEM Global Yield Fund Limited, the investment group that also bought the automaker’s shares early this month. Swedish Automobile said it is continuing “discussions with parties to obtain further short-term funding [...] Continue Reading…
Beleagurered Saab owner to issue shares again as payroll looms
August 17th, 2011 
admin GM earnings soar 92 percent on global sales
August 8th, 2011 admin Linda Young – AHN News Writer
Detroit, MI, United States (AHN) – General Motors saw its second quarter earnings surge by 92 percent compared to the same period a year earlier. It earned $2.5 billion compared to the $1.3 billion GM earned a year earlier. The nation’s No. 1 automaker had revenue of $39.4 billion, up by 19 percent on improved average pricing and numbers of vehicles sold. Only two years out of a federal bailout, most of GM’s growth came from U.S. sales, which increased by 11 percent to 669,000 vehicles sold while company-wide growth increased by 7 percent overall to 2.3 million vehicles sold worldwide. For the first time in years, GM made [...] Continue Reading…
Three Industrial Sectors Attract Investment
July 10th, 2011 admin JAKARTA (IFT) – The machinery and equipment sectors, together with the electronics and automotive components sectors, have the greatest potential to attract investments due to their high import value, according to Agus Tjahayana, Director General of International Cooperation of the Ministry of Industry.
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Auto Loans from a Dealer?
July 7th, 2011 admin Consumer advocates suggest that you avoid auto loans at the dealership. Auto dealers are great at selling cars, but not the place to borrow money. However, it’s possible that the dealer is your best bet. Rates may be better, and the process may be easier. NetBanker Jim Breune explains why he recently financed an auto through the dealership [...] Continue Reading…
Volkswagen postpones MAN supervisory board takeover
July 6th, 2011 admin 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 the merger with MAN. VW held off nominating chief executive Martin Winterkorn, chief financial officer Hans Dieter Poetsch, and the automaker’s chief for commercial vehicles, Jochem Heizmann, to MAN’s supervisory board. Instead, the company named executives Ulf Berkenhagen and Thomas Kremer, who are current members of the board, consistent with VW’s 29.9 percent share in MAN. A third executive, Matthias Bruse, was [...] Continue Reading…
French Drench: Thomas Levet breaks shin jumping in lake after French Open
July 5th, 2011 admin Tom Edrington – AHN Sports Reporter
Paris, France (AHN Sports) – Warning to golfers: Stay out of the water! French Open winner Thomas Levet found out the hard way on Sunday that victory celebrations can go a bit too far. Levet, who won his national championship for the first time, jumped into a lake at the 18th hole at Le Golf National, site of his victory by one shot over Thorbjorn Olesen. He didn’t know it immediately but when his shin started hurting, it was discovered that he suffered a mild fracture during his jump into the pond. He was fitted for a cast and will not be able to compete in this week’s Scottish Open [...] Continue Reading…
UFOs Filmed Over London — Or Not
July 4th, 2011 admin A recent home video shot over London shows a fleet of UFOs. But is it real?
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Most Ticketed US Cars. Are You Driving One
July 1st, 2011 admin Does what we drive affect how we drive? That’s the question posed by Quality Planning, an analytics company that works with auto insurers. Quality Planning ranked the vehicles most likely to be …
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Sebastian Vettel wins sixth race of F1 season
June 28th, 2011 admin Edward Lewis – AHN Sports Reporter
Valencia, Spain (AHN Sports) – Sebastian Vettel continued his dominance in Formula One this season by scoring his sixth win of the season Sunday in the European Grand Prix. Vettel extended his dominant points lead when he topped Ferrari driver Fernando Alonso by 10.891 seconds for his second straight victory on Valencia’s street circuit. Driving in 115-degree weather, the German won from the pole for the fifth time this season. Vettel’s Red Bull teammate Mark Webber ran third and was followed by Lewis Hamilton, Felipe Massa and McLaren’s Jenson Button. The race winner and defending F1 champion extended his points lead to 77 points with his 16th career victory. [...] Continue Reading…
Heffernan Launches Insurance Program for Participants of the Burning Man Event
June 28th, 2011 admin SAN FRANCISCO, June 28, 2011 /PRNewswire/ — Heffernan Insurance Brokers has launched a unique program called Insurance on the Playa, which offers coverage for participants of the Burning Man event. Coverage can include liability for theme camps, art cars and art installations as well as coverage fo
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