Trends - General Motors Co - Business Recorder

General Motors Co

GM buyouts cut 5,000 jobs

NEW YORK: About 5,000 General Motors Co salaried workers took buyouts to leave the company, putting the company well...

Published 05 Apr, 2023 06:16am

Business & Finance

US auto union leader promises fight to get workers a ‘fair share’

DETROIT: Shawn Fain, the new president of the United Auto Workers union, on Monday said he is ready to go to war...

Published 29 Mar, 2023 06:27am

Business & Finance

GM offers salaried employee buyouts, will take up to $1.5bn charge

WASHINGTON: General Motors Co on Thursday said it was offering buyouts for most of its salaried employees and global...

Published 13 Mar, 2023 06:15am

Business & Finance

GM profits rise after record quarter in North America

NEW YORK: General Motors rode a strong performance in North America to higher fourth-quarter profits and said ...

Published 06 Feb, 2023 07:27am

Business & Finance

GM reclaims US auto sales top spot from Toyota

BENGALURU: General Motors Co on Wednesday posted a 2.5% rise in US new vehicle sales in 2022, outselling Toyota ...

Published 09 Jan, 2023 06:00am

Business & Finance

GM backs setting tough US emissions targets for 2030

NEW YORK: General Motors Co said on Tuesday it backed establishing tougher federal emissions standards to help...

Published 21 Sep, 2022 11:03am

Technology

Chip makers have a message for car makers: Your turn to pay

The shortages of computer chips that forced global automakers to scrap production plans for millions of cars over ...

Published 04 Aug, 2022 10:05am

Business & Finance

US Energy Department set to loan GM battery joint venture $2.5bn

WASHINGTON: The US Energy Department on Monday plans to announce it intends to loan a joint venture of General ...

Published 26 Jul, 2022 04:30am

Markets

GM and Honda expand electric vehicle partnership

DETROIT: General Motors and Honda Motor Co on Tuesday said they will co-develop a series of electric vehicles based...

Published 05 Apr, 2022 05:35pm

Markets

Canada to invest C$518 million toward GM’s two plants in Ontario

General Motor Co will receive support worth C$518 million ($414.96 million) from Canada toward its multi-billion...

Published 04 Apr, 2022 10:01pm

Business & Finance

GM seeks US approval to deploy self-driving vehicles

WASHINGTON: General Motors Co and its self-driving technology unit Cruise have petitioned US regulators for...

Published 21 Feb, 2022 07:25am

Markets

GM Ventures invests in EV advanced battery startup Soelect

General Motors Co is among the investors in a North Carolina startup developing fast-charging lithium-metal ...

Published 03 Feb, 2022 06:56pm

Business & Finance

Global carmakers now target $515 billion for EVs, batteries

Global automakers are planning to spend more than half a trillion dollars on electric vehicles and batteries through...

Published 10 Nov, 2021 12:41pm

Business & Finance

GM, Ford results likely to reflect chip shortage's varying impacts on sector

DETROIT: General Motors Co and Ford Motor Co are likely to show investors both the positive and negative financial...

Published 25 Oct, 2021 03:55pm

Business & Finance

LG units say results accounted for $918mn costs from GM's Bolt recall

SEOUL: South Korea's LG Chem Ltd and LG Electronics Inc said on Tuesday their latest quarterly results accounted for...

Published 12 Oct, 2021 11:26am

Business & Finance

GM to open battery cell development center in push to cut EV costs

"The key to making these vehicles affordable is going to be the cell cost in the battery packs," Ken Morris says

Published 05 Oct, 2021 05:14pm

Business & Finance

GM invests in Oculii, radar software maker for self-driving cars

Tesla Inc eliminated radar sensors from its volume models this year, rekindling questions about the safety and performance of its advanced driver assistant system

Published 13 Sep, 2021 04:58pm

Business & Finance

GM to cut North American production, citing chip shortage

WASHINGTON: General Motors Co will reduce production at most North American assembly plants this month because of ...

Published 03 Sep, 2021 04:58am

Business & Finance

South Korea's LG Chem shares dive on GM electric car recall

The US automaker said the recall covers vehicles beginning model year 2019 and that it would indefinitely halt Bolt sales

Published 23 Aug, 2021 09:41am

World

Biden to set target for 50% EVs by 2030; industry backs goal

Last month, Stellantis said it was targeting over 40% of US vehicles to be low-emission by 2030

Published 05 Aug, 2021 02:05pm

Business & Finance

GM, Cruise sue Ford to block use of 'BlueCruise' name for hands-free driving

In the lawsuit, filed on Friday, GM said the automakers had held "protracted discussions" over the matter but failed to resolve the dispute.

Published 24 Jul, 2021 05:08pm

Business & Finance

GM to invest $71mn for new design and tech campus in California

General Motors said the campus will include an innovation lab and immersive technology capabilities, including augmented and virtual reality.
GM presented in January a futuristic flying Cadillac - a self-driving vehicle which takes off and lands vertically and carries the passenger above the streets and through the air.

Published 13 Jul, 2021 05:39pm

Business & Finance

GM shakes up lithium industry with California geothermal project

The deal, announced on Friday, comes as automakers around the world scramble for access to lithium and other electric vehicle (EV) metals as internal combustion engines are phased out.

Published 02 Jul, 2021 06:16pm

Business & Finance

GM to boost spending to $35bn by 2025

WASHINGTON: General Motors Co will boost global spending on electric and autonomous vehicles to $35 billion through...

Published 21 Jun, 2021 03:43am

Business & Finance

GM boosts spending on electric vehicles, to add two new US battery plants

The No. 1 US automaker said it will now spend $35 billion through 2025 on EVs, an increase of 75% from March 2020 before the COVID-19 pandemic shut down the industry.
GMT's announcement comes less than a month after rival Ford Motor Co upped its EV spending by more than a third to over $30 billion by 2030.

Published 16 Jun, 2021 07:08pm

Markets

S&P 500, Nasdaq weighed down by inflation worries after upbeat data

The S&P index recorded 30 new 52-week highs and no new low, while the Nasdaq recorded 55 new highs and 21 new lows.

Published 04 Jun, 2021 12:39am

Markets

Ford boosts EV spending, outlines 2030 sales targets, shares near 5-year high

Ford and other global automakers are racing to shift their gasoline-powered lineups to all electric power under pressure from regions like Europe and China to cut vehicle emissions.

Published 26 May, 2021 10:54pm

Business & Finance

GM profit shrugs off chip shortage with high-priced pickups, SUVs

Barra added that the No. 1 US automaker's "supply chain and manufacturing teams are maximizing production of high-demand and capacity-constrained vehicles."
In a conference call with reporters, Barra said that the chip shortage will worsen in the second quarter before starting to improve in the second half of the year.

Published 05 May, 2021 06:18pm

Business & Finance

GM, LG Energy Solution to build 2nd US battery plant in Tennessee

DETROIT: General Motors Co and South Korean joint-venture partner LG Energy Solution on Friday said they will build ...

Updated 18 Apr, 2021 10:30am

Business & Finance

GM, LG Energy Solution to build 2nd US battery plant in Tennessee

The planned 2.8 million-square-foot plant, scheduled to open in late 2023, will employ 1,300 people and is expected to have a production capacity similar to the companies' Ultium Cells joint-venture plant in Lordstown, Ohio, of about 35 gigawatt-hours as they move to respond to the growing demand in the electric vehicle market.
LG Chem said in a regulatory filing that its LG Energy Solution unit will invest $933.5 million in the plant between this year and 2023.

Published 16 Apr, 2021 07:57pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 20	278.48
USD PKR Interbank Buying / Dec 20	278.28
USD to Japanese Yen / Dec 20	156.31
USD to Swiss Franc / Dec 20	0.89
Pound Sterling to USD / Dec 20	1.26
Euro to USD / Dec 20	1.04

Stock	Volume
S&P 500 / Dec 20	5,930.85
India Sensex / Dec 20	78,041.59
Tokyo Nikkei / Dec 20	38,701.90
Nasdaq / Dec 20	19,572.60
Hang Seng / Dec 20	19,720.70
FTSE 100 / Dec 20	8,084.36
Dow Jones / Dec 20	42,840.26
Germany DAX 30 / Dec 20	19,884.75

Item	Value
Crude Oil USD/Barrel / Dec 20	69.46
Gold 10 Grams PKR / Dec 20	234,311
Gold Spot USD/Ounce / Dec 20	2,622.91
Cotton US¢/pound / Dec 20	68.06
Karachi Cotton PKR/37.32 KG / Dec 21	17,585
Petrol/Litre / Dec 22	252.10

Gainers
Losers
Leaders

Stock	Price
Media Times Ltd / Dec 20 Media Times Limited(MDTL)	2.37 ▲ 0.37 (18.50%)
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	7.23 ▲ 1.00 (16.05%)
Ist.Capital Sec / Dec 20 First Capital Securities Corporation(FCSC)	2.12 ▲ 0.26 (13.98%)
Khalid Siraj / Dec 20 Khalid Siraj Textile Mills Limited(KSTM)	9.60 ▲ 0.97 (11.24%)
Aruj Industries / Dec 20 Aruj Industries Limited(ARUJ)	9.90 ▲ 0.98 (10.99%)
Escorts Bank / Dec 20 Escorts Investment Bank Limited(ESBL)	4.79 ▲ 0.47 (10.88%)
Cresent Jute / Dec 20 Crescent Jute Products Limited(CJPL)	4.20 ▲ 0.40 (10.53%)
S.G.Power / Dec 20 S.G. Power Limited(SGPL)	11.19 ▲ 1.02 (10.03%)
P.T.C.L. / Dec 20 Pakistan Telecommunication Company Ltd(PTC)	25.80 ▲ 2.35 (10.02%)

Stock	Price
LSE Financial Serv. / Dec 20 LSE Financial Services Limited(LSEFSL)	16.25 ▼ -1.81 (-10.02%)
Dar-es-Salaam / Dec 20 Dar-es-Salaam Textile Mills Limited(DSML)	41.93 ▼ -4.66 (-10.00%)
Maqbool Tex. / Dec 20 Maqbool Textile Mills Limited(MQTM)	31.05 ▼ -3.45 (-10.00%)
Reliance Cotton / Dec 20 Reliance Cotton Spinning Mills Limited(RCML)	621 ▼ -69.00 (-10.00%)
Sanghar Sugar / Dec 20 Sanghar Sugar Mills Limited(SANSM)	27.72 ▼ -3.08 (-10.00%)
Olympia Mills / Dec 20 Olympia Mills Limited(OML)	34.58 ▼ -3.84 (-9.99%)
Nagina Cot. / Dec 20 Nagina Cotton Mills Limited(NAGC)	48.92 ▼ -5.41 (-9.96%)
Oilboy Energy / Dec 20 Oilboy Energy Limited(OBOY)	11.39 ▼ -1.26 (-9.96%)
Arpak Int. / Dec 20 Arpak International Investments Ltd.(ARPAK)	65.22 ▼ -7.19 (-9.93%)

Stock	Volume
WorldCall Telecom / Dec 20 Worldcall Telecom Limited(WTL)	177,645,248 ▲ 0.10
K-Electric Ltd. / Dec 20 K-Electric Limited(KEL)	81,901,542 ▲ 0.16
Cnergyico PK / Dec 20 Cnergyico PK Limited(CNERGY)	68,345,098 ▲ 0.12
Pak Elektron / Dec 20 Pak Elektron Limited(PAEL)	57,974,101 ▲ 1.47
Pak Refinery / Dec 20 Pakistan Refinery Limited(PRL)	45,251,944 ▲ 0.40
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	43,240,462 ▲ 1.00
Sui South Gas / Dec 20 Sui Southern Gas Company Limited(SSGC)	40,539,001 ▼ -0.74
B.O.Punjab / Dec 20 The Bank of Punjab(BOP)	35,598,669 ▲ 0.24
Symmetry Group / Dec 20 Symmetry Group Limited(SYM)	34,869,613 ▼ -0.72

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