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Press Releases

Davos CEOs 'go local' on supply chain in Trump era

DAVOS, Switzerland, Jan 19- Business leaders in Davos, traditionally the high priests of globalisation, are talking up the benefits of local production this week to shield themselves from criticism from incoming U.S. Elected on a jobs-focused "America First" platform, Trump has taken to Twitter to rebuke major companies like General Motors, Lockheed Martin and...

Source: Reuters

Automaker GM adapts $1 bln recipe for "tough" Indian market - sources

*Weighing options for India auto platform technology. DETROIT, Jan 19- After an 18- month review, General Motors Co is nearer to resolving a raft of issues that have hobbled its $1 billion strategy for India, one of the fastest growing emerging markets for automobiles. The strategy, announced in July 2015, includes selling one of its two Indian assembly plants to a...

Source: Reuters

Fact checking Donald Trump's job creation claims

Is the president-elect actually behind what might appear to be a hiring bonanza? Economic evidence suggests otherwise, NBC News reports.

Source: NBC NEWS

By announcing new jobs, corporations help themselves, too

"It might be an attempt to buy good will, but I don't blame them for trying to do that," said Tom C. Korologos, a longtime Republican strategist says, New York Times reports.

Source: The New York Times

GM to pay $1M penalty for ignition switch accounting trouble

DETROIT— General Motors will pay the federal government a $1 million civil penalty for violating accounting rules involving the company's deadly ignition switch scandal. The penalty, announced Wednesday as a settlement with the U.S. Securities and Exchange Commission, is for failing to have accounting controls in place to determine the potential for a...

Source: The Associated Press

General Motors fined $1 million by SEC for accounting failures

The SEC says GM did not properly assess the potential impact on its financial statements of a defective ignition switch found in some vehicles.


With job announcements, firms appear to seek Trump approval

WASHINGTON— From Wal-Mart to General Motors to Amazon, a growing number of the world's largest companies appear to be trying to get in step with President-elect Donald Trump's demand that employers hire and keep jobs at home. Trump, in response, has taken to Twitter to signal his approval. "Thank you to General Motors and Walmart for starting the big jobs push back...

Source: The Associated Press

GM's $1 billion investment is not driven by Trump and likely dates back to 2014

Around 450 jobs will be returned to the U.S. as GM transfers back production of axles from a plant in Mexico, NBC News reports.

Source: NBC NEWS

UPDATE 4-General Motors says to invest additional $1 bln in U.S.

WASHINGTON, Jan 17- General Motors Co on Tuesday confirmed it will invest an additional $1 billion in its U.S. factories in 2017 and will move some parts production from Mexico to the United States that was previously handled by a supplier. President-elect Donald Trump for building vehicles in Mexico that are imported into the United States.

Source: Reuters

WRAPUP 1-Wal-Mart, GM reaffirm jobs long planned, Trump says thanks

Jan 17- Wal-Mart Stores Inc and General Motors Co on Tuesday became the latest companies to win praise from President-elect Donald Trump for adding U.S. jobs and investment, even though much of their plans were previously announced. Trump, who takes office on Friday, has repeatedly singled out and criticized U.S. companies across industries for not doing more to...

Source: Reuters