atHome Top Story (Free subscription) | 06/11/2009
Shares of Magna International Inc. jumped more than 14 per cent in trading Friday after the auto parts company reported a third-quarter profit of $51 million and was reported to be involved in a new auto palant in Russia.
eGMCarTech (Free subscription) | yesterday
Earlier this week, General Motors surprised German official and labor unions by backing out of plans to sell Opel to Magna International and Russian bank Sberbank. CEO Fritz Henderson said that the Detroit automaker now hopes to get the European government to help it restructure Opel but could use some of its $50 billion it [...]
atHome Top Story (Free subscription) | yesterday
Magna International's stock price shot up more than 14 per cent Friday in its biggest one-day jump in 18 years after posting a surprise quarterly profit.
American Power (Free subscription) | yesterday
Publisher's Note: It is my pleasure once again to publish a guest essay from a reader, Bill Dawson. A U.S. citizen, Bill has lived in Austria since 2000. He blogs regularly about German History rather than contemporary politics, but he has his finger on the pulse of the German-language media and offers an interesting perspective from across the pond. ********** A story which involves a U.S. company...
Wheel Industry (Free subscription) | 06/11/2009
IG Metall was striking Opel’s four German factories as General Motors CEO Fritz Henderson gave us half an hour of his time at a Detroit journalists’ Q&A Thursday morning. Opel’s workers are upset that GM reversed itself and pulled its European unit from the market before Magna International and Sberbank/GAZ could buy it. The strike [...]
San Fransisco Chronicle (Free subscription) | 06/11/2009
Shares of Magna International Inc. soared Friday after the Canadian auto supplier said it posted a $51 million third-quarter profit, blowing away Wall Street predictions. In midday trading, Magna shares jumped $6.55, or 15 percent, to $50.75, after reaching... Magna International - Wall Street - Canada - General Motors - Business
Leftlane (Free subscription) | 06/11/2009
Following General Motors failed sale of Opel to Magna International, Opel head Carl-Peter Forster will reportedly step down from his post. General Motors announced earlier this month that it would retain its German Opel brand despite months of negotiations with Canada’s Magna International. According to Spiegel Online, Forster has decided to resign from Opel following [...]
Seattle Times (Free subscription) | 06/11/2009
Shares of Magna International Inc. soared Friday after the Canadian auto supplier said it posted a $51 million third-quarter profit, blowing away Wall Street predictions.
Autoblog (Free subscription) | 06/11/2009
Filed under: Europe , Hirings/Firings/Layoffs , GM , Opel German magazine Der Spiegel is reporting this morning that Opel President Carl-Peter Forster has resigned from General Motors following the board's decision to kill the sale of a majority stake to Magna International. Apparently, Forster was disgusted at the way that GM officials handled the whole process. Over the past several months, GM went...
Stock Market Analysis (Free subscription) | 06/11/2009
Today, November 6, 2009, there are several stock gainers that are breaking out with some nice momentum. If you are looking to day trade today, you might want to check out the following stocks. Check out some of today's biggest gainers and the Top Stocks for 2009 . You can find my Past, Current, and Future Stock Gainers Report Right Here Top Stocks 11/6/09 - Biggest Gainers Today Discuss Stocks - www.stockstobuy.org...
INAUTONEWS (Free subscription) | 06/11/2009
Magna International Inc is not looking at taking over any other automakers following the collapse of its deal to buy a stake in General Motors Co’s European operations, the auto parts maker’s co-CEO, Don Walker, said on Thursday. GM’s board of directors had approved the sale of a 55 percent stake in Germany-based Opel to the [...] > Read complete article inside...
Just Auto (Free subscription) | 06/11/2009
Magna International has reported a surprise third quarter operating income of US$81m, net income of $51m and earnings per share of $0.45, increases of $193m, $266m and $2.38, respectively, year on year, benfiting from cost cutting an restructuring started last year as the credit crisis hit the auto sector. Total sales fell 16% to $4.7bn.
Gasgoo.com (Free subscription) | 06/11/2009
Magna International Inc is not looking at taking over any other automakers following the collapse of its deal to buy a stake in General Motors Co's European operations, the auto parts maker's co-CEO, Don Walker, said on Thursday.
atHome Top Story (Free subscription) | 06/11/2009
Auto parts powerhouse Magna International Inc. has posted a profit for the third quarter, despite the economic storm pounding the industry.
The News Cruncher (Free subscription) | 06/11/2009
Another fine example of why labour unions (and their mob mentality) should be abolished: Opel employees walked off their jobs to attend a mass rally at the auto maker's headquarters Thursday, protesting General Motors Co.'s decision to abandon the unit's sale to Magna International Inc., which the workers had hoped would preserve jobs. Thousands of the 25,000 employees from Opel's four German factories...
The 3 latest articles published by users on Magna International :
traimi | 29/09/2009
The hurdles are not over for the planned takeover of Magna International and Sberbank of General Motor’s Opel /Vauxhall segment. Sberbank, Russia’s biggest lender, is looking for a domestic carmaker to be its industrial partner.
traimi | 24/09/2009
In another case of a supplier transforming into a threat is Magna International’s takeover of Opel with Russian partner Sberbank . Volkswagen said that it will withdraw business from Magna if the takeover pushes through.
traimi | 13/09/2009
Finally, the verdict is in! General Motors sold a 55% stake in Vauxhall and Opel to Magna International and its Russian banking partner Sberbank. GM retains 35% of the company, while the remaining 10% will be held by an Opel employee trust fund.
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