Schaeffler’s proposed changes to terms governing $7.9 billion of high-yield bonds, including a new €1.8 billion ($2.3 billion) loan, are being opposed by Schroders Plc., which manages some of the supplier’s debt.
Investors must decide by Thursday whether to increase the company’s debt-to-earnings ratio and approve the new €1.8 billion ($2.3 billion) loan, according to documents seen by Bloomberg News.
By Maki Shiraki
Japan’s Toyota Motor Corp said on Wednesday it would recall a total 1.67 million vehicles globally in a voluntary move to address three separate defects including a faulty brake master cylinder that could hinder the brake’s performance.
by Ben Klayman
Chrysler Group is recalling an estimated 184,215 sport utility vehicles globally because a possible short circuit in a part could disable air bags and seat-belt pretensioners, the automaker said on Tuesday.
Daimler today reported a 29 percent jump in quarterly core earnings at Mercedes-Benz Cars, surprising investors wary of an economic slowdown.
Earnings before interest and tax (EBIT) from ongoing business at Mercedes-Benz Cars, which includes the Smart brand, rose to €1.61 billion ($2.04 billion) in the third quarter from €1.25 billion in the year-earlier period, Daimler said in an ad-hoc statement.
By Jessica Dye
A program to compensate victims of a faulty ignition switch in General Motors vehicles has approved three new death claims, bringing the total number of deaths linked so far to the switch to 27, according to a report released on Monday by the lawyer overseeing the program.
