General Motors’ Finance Arm Joins Blockchain Data Security Initiative

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General Motors’ Finance Arm Joins Blockchain Data Security Initiative

U.S. government agency sued over sale of ‘certified’ used cars

The Center for Auto Safety and five other groups filed a lawsuit against the Federal Trade Commission (FTC) on Monday for allowing used cars to be advertised as “certified” or safe despite being the target of an outstanding safety recall. The FTC reached an agreement in January 2016 with General Motors Co and two dealership companies, Jim Koons Management and Lithia Motors Inc , that allows them to advertise cars as “certified pre-owned vehicles” even though they might have an issue related to a safety recall that still needs to be fixed. The agency did require the companies to disclose any uncompleted safety recalls, and GM spokesman Jim Cain said the Detroit automaker does not allow dealers to advertise vehicles as “certified per-owned” unless recall repairs are made.

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U.S. government agency sued over sale of ‘certified’ used cars

Trump talks to U.S. automakers, pushes for new American plants

U.S. President Donald Trump urged the chief executives of the Big Three U.S. automakers on Tuesday to build more cars in the country, pressing his pledge to bring jobs to America and discourage the car industry from investing in Mexico. Trump, who has threatened to impose 35 percent tariffs on imported vehicles, opened a White House meeting with General Motors Co CEO Mary Barra, Ford Motor Co CEO Mark Fields and Fiat Chrysler Automobiles NV CEO Sergio Marchionne saying he wants to see more auto plants in the United States.

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Trump talks to U.S. automakers, pushes for new American plants

Automakers tout new diesels despite Volkswagen’s troubles

Automakers unveiled several new diesel models at the Detroit auto show this week, hoping to dispel the doubts created by Volkswagen's diesel emissions scandal and revive interest in a technology that offers benefits under fuel economy regulations. Ford Motor Co said it would offer a diesel version of its best-selling F-150 pickup truck for the first time in 40 years, while General Motors Co said Sunday it will offer a diesel version of its compact GMC Terrain SUV. Last year, GM announced it will start selling diesel versions of it Chevrolet Equinox and Chevrolet Cruze car, while in November Mazda Motor Co said it would start selling a diesel version of its 2017 CX-5 SUV in the United States later this year.

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Automakers tout new diesels despite Volkswagen’s troubles

Boeing, new lobby group aim to keep $8.7 billion in state tax breaks

Boeing Co has joined a new coalition lobbying to preserve $8.7 billion in tax breaks that Washington state gave its aerospace industry in 2013, the group said. The organization, launched on Tuesday, indicates growing opposition to changing the incentives, and aims to counter efforts by some state lawmakers to tie the tax breaks to employment in the state, said Maud Daudon, chief executive officer of the Seattle Metropolitan Chamber of Commerce, which is leading the effort. Several “claw-back” measures have been proposed since the tax breaks were approved in 2013, but did not pass.

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Boeing, new lobby group aim to keep $8.7 billion in state tax breaks

Automaker Honda invests in ride-hailing service Grab

Southeast Asian ride-hailing service Grab said on Monday it had secured an investment from Japanese automaker Honda Motor Co as part of a deal to collaborate on its motorbike-hailing service, in the latest auto industry tie-up of its type. Grab said Honda had agreed to invest an undisclosed amount in the firm, and the two companies would form a partnership to develop the ride-sharing technology and related driver education programs. Automakers such as Volkswagen , Toyota Motor Corp and General Motors also have tie-ups with ride-sharing firms to hedge against a shift in the vehicle market away from private ownership.

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Automaker Honda invests in ride-hailing service Grab

General Motors third-quarter earnings widely beat expectations

General Motors Co reported much higher-than-expected third-quarter earnings on strong North American truck and SUV sales, calming fears that a U.S. auto market slowdown would dent profitability. GM said on Tuesday that it expected full-year results would be on the “high end” of its previous forecast of $5.50 to $6.00 a share. Although overall U.S. car and light truck sales are flat for the year, GM said it increased its share of sales to individual consumers during the third quarter, and reduced the cost of discounts needed to close deals.

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General Motors third-quarter earnings widely beat expectations

Oil slips as Venezuela says market is 10 percent oversupplied

By Henning Gloystein SINGAPORE (Reuters) – Oil prices fell on Tuesday after Venezuela said that global supplies needed to fall by 10 percent in order to bring production down to consumption levels, and technical indicators also pointed to cheaper crude futures. Global oil supply of 94 million barrels per day needs to fall by about a tenth if it is to match consumption, Venezuela's Oil Minister Eulogio Del Pino said on Monday. International benchmark Brent crude oil futures were trading at $45.82 per barrel at 0649 GMT, down 13 cents from their last close.

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Oil slips as Venezuela says market is 10 percent oversupplied

GM sets Bolt electric car price at $37,495

By Joseph White DETROIT (Reuters) – General Motors Co on Tuesday announced its Chevrolet Bolt electric vehicle will cost under $30,000 after tax breaks, a price that makes it significantly cheaper than the average new U.S. vehicle and sets up a test of whether the technology can go mainstream in the United States. The least expensive Bolt will start at $37,495 before a $7,500 federal tax credit, meaning it would sell for $29,995, GM said. The Bolt will have a driving range of 238 miles on a full charge, substantially more than any currently available electric vehicle at a similar price.

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GM sets Bolt electric car price at $37,495

U.S. factory activity slips; construction spending hits one-year low

By Lucia Mutikani WASHINGTON (Reuters) – U.S. manufacturing activity eased in July amid shrinking order backlogs and declining employment, while an unexpected drop in construction spending in June suggested second-quarter economic was probably even weaker than reported last week. The Institute for Supply Management's (ISM) report on Monday also showed manufacturers ramping up production to an 18-month high even as factories continued to draw down inventories, which some economists said pointed to moderate growth in the sector. Tim Quinlan, a senior economist at Wells Fargo Securities in Charlotte, North Carolina, said it was counterintuitive for manufacturers to step up production while cutting payrolls and running down inventories, given that production is a coincident indicator for the economy.

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U.S. factory activity slips; construction spending hits one-year low