SEOUL, South Korea — Hankook Tire & Technology Co. Ltd.'s board of directors has authorized a plan to buy back up to $43 million of the company's stock and boost the stock dividend in an effort to enhance shareholder value.
NEW YORK — Automotive suppliers and manufacturers are among the industries most likely to feel the economic impact from the coronavirus outbreak, according to a new report from Moody's Investor Services.
HANOVER, Germany — Continental A.G. is postponing its 2020 annual shareholders' meeting originally planned for April 30 in the wake of Lower Saxony's decision to ban large events in response to the Covid-19 pandemic.
KUALA LUMPUR — The growth in demand for and production of natural rubber is slipping, prompting the the Association of Natural Rubber Producing Countries to revise downward its 2020 global outlook for natural rubber.
HANOVER, Germany — Continental A.G. is evaluating new cost-cutting measures after posting a 20% drop in fiscal 2019 adjusted pre-tax operating profit and a $1.37 billion net loss as worldwide vehicle demand slumped and production is expected to keep falling.
QUINCY, Ill. — Titan International Inc. has initiated efforts to cut tens of millions of dollars in operating costs to help it return to the black after falling into the red on an operating and net basis in fiscal 2019.
PARIS — Group Michelin is forecasting a slight drop in earnings for fiscal 2020 after reporting strong fiscal 2019 sales and profitability, despite what the firm described as "a deteriorated environment and shrinking markets."
NEW YORK — Icahn Enterprises L.P. fell $1.1 billion in the red in fiscal 2019 on 8.1% lower sales of $9.72 billion, a performance the company blamed in large part on losses at its Icahn Automotive Group and investment business units.