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Business - In rare sign of dissent, investor calls for change at South Korea`s Hyundai Motor

A major investor in Hyundai Motor Co on Friday urged the automaker to improve its governance, as shareholders met for the first time since the Hyundai group paid $10 billion for a piece of real estate in a widely criticized deal. The decision in September last year to buy the land in Seoul`s affluent Gangnam district at three times its appraised value hit Hyundai Motor`s share price and rekindled investor frustration over opaque decision-making process at South Korea`s family-owned conglomerates. In an unusual expression of dissent at a shareholder meeting in South Korea, a director at Netherlands-based pension fund APG Asset Management called on Hyundai Motor to revamp its governance structure and assign one of its external directors to `defend shareholder interests`. `I hope this incident will give an opportunity for Hyundai Motor to improve its governance structure in a rational manner,` the director, Park Yoo-kyung, told the crowded auditorium at Hyundai Motor`s headquarters in Seoul.

Friday, March 13, 2015  03:27


Business - Takata air bag lawsuits sent to Florida court

By Jessica Dye NEW YORK (Reuters) - Dozens of lawsuits against Takata Corp and several car manufacturers over faulty air bags that prompted a wave of recalls will be heard in a Florida federal court, a judicial panel has ruled. U.S. District Judge Frederico Moreno in the Southern District of Florida will preside over the cases, according to a ruling Thursday from the U.S. Judicial Panel on Multidistrict Litigation. More than 70 proposed class actions have been filed in the past few months by customers who say Takata air bags are defective and can violently explode and spray metal debris, putting passengers at risk of injury or death. Some of the lawsuits name as defendants several automakers, including Honda Motor Co, BMW, Ford Motor Co, Nissan Motor Co Ltd, Subaru Co Ltd and Toyota Motor Corp. The lawsuits say Takata and the automakers knew about the air bag problems for years but until recently failed to recall the cars or warn customers and safety regulators.

Friday, February 06, 2015  17:42


Business - Honda hires U.S. engineering firm Exponent to probe Takata air bags

Honda Motor Co has hired Exponent, a U.S.-based engineering consulting company enlisted by Toyota Motor Corp during its recall crisis in 2010, to investigate the cause of ruptures in some air bags made by Takata Corp . The hiring of Exponent was first reported by Japan`s Jiji News on Monday and confirmed by a Honda spokesman in Tokyo. A consortium of 10 automakers led by Toyota Motor Corp and which includes Honda has separately commissioned engineering firm Orbital ATK to conduct independent testing of Takata`s air bag inflators, which can rupture with too much force, shooting metal shards into vehicles.

Monday, March 23, 2015  07:56


Business - Japan automakers add 550,000 cars to Takata air bag recalls

By Chang-Ran Kim and Mari Saito TOKYO (Reuters) - Three Japanese automakers will recall more than half a million cars globally to replace air bag inflators made by Takata Corp , bringing the total tally of Takata-related recalls across all brands to around 20 million since 2008. The recalls announced on Thursday by Honda Motor , Nissan Motor and Mitsubishi Motors correspond with a similar, precautionary recall by Toyota Motor last week after a recent `unusual deployment` of a passenger-side air bag at a scrap yard in Japan. ...

Thursday, December 11, 2014  07:50


Business - U.S. regulator orders national Takata driver-side air bag recall

By Bernie Woodall DETROIT (Reuters) - The U.S. National Highway Traffic Safety Administration on Wednesday ordered air bag supplier Takata Corp to expand its regional recall of driver-side air bags to cover the entire United States. Such a nationwide recall would affect vehicles made by five automakers: Ford Motor Co ; Honda Motor Co ; Chrysler Group LLC, a unit of Fiat Chrysler Automobiles ; Mazda Motor Corp and BMW AG . NHTSA gave Takata until Tuesday to issue a recall. ...

Wednesday, November 26, 2014  17:35


Europe - The car-crazy fashion model who swapped the catwalk for motoring

Former male model Elo used to make a living from his good looks.

Monday, March 30, 2015  13:05


Most Recent - From runway to road -- a male model indulges his motoring passion

Monday, March 30, 2015  05:02


World - Cash-cow Clarkson gives BBC major headache

Hosts of motoring television shows rarely generate headlines, but the furore over the suspension of `Top Gear` host Jeremy Clarkson reveals much about British society and national broadcaster the BBC. To his supporters, Clarkson is a humorous, straight-talking man-of-the-people standing up to the petty bureaucracy and political correctness that they blame for the country`s ills.

Friday, March 13, 2015  15:53


World - Top Gear presenter Clarkson suspended over `fracas`

The BBC said on Tuesday it had suspended Jeremy Clarkson, the controversial host of popular motoring programme `Top Gear`, after he was involved in a `fracas` with a producer. The outspoken 54-year-old presenter helped the show become the world`s most popular factual television programme, with 350 million viewers a week in 170 countries. `Following a fracas with a BBC producer, Jeremy Clarkson has been suspended pending an investigation,` the BBC said in a statement. The online appeal, reading `We the undersigned petition the BBC to reinstate Jeremy Clarkson.

Tuesday, March 10, 2015  21:48


World - Top Gear presenter Clarkson suspended over `fracas`: BBC

The BBC on Tuesday said it had suspended Jeremy Clarkson, the controversial host of popular motoring programme `Top Gear`, after he became involved in a `fracas` with a producer. `Top Gear` is the most popular factual television programme on the planet, with 350 million viewers per week in 170 countries. `Following a fracas with a BBC producer, Jeremy Clarkson has been suspended pending an investigation,` said a statement from the broadcaster. `Top Gear` will not be broadcast this Sunday.

Tuesday, March 10, 2015  17:57

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