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Added on the 06/03/2017 08:41:54 - Copyright : Euronews EN
General Motors gained as much as 8.9% to a record high on Tuesday. The gain comes on news that its autonomous vehicle subsidiary, Cruise, is receiving a large investment from Microsoft. Microsoft joins a number of companies in a $2 billion funding round for Cruise. Tuesday's price is a record-high for GM since it emerged from bankruptcy at the end of the Great Recession. The partnership will accelerate the commercialization of self-driving vehicles. It brings together the two companies' software and hardware engineering expertise, cloud computing capabilities, and manufacturing knowledge.
GM agreed to keep the Oshawa Ontario plant open and shift some engine production from Mexico to Canada. As Fred Katayama reports, the union conceded on its retirement plan.
BHP Billiton sheds 6 per cent, after it said it would write down the value of its U.S. shale assets by $7.2 billion, cementing expectations it will be forced to cut its dividend for the first time in 25 years. Kirsty Basset reports.
The automaker averted a strike after reaching a last minute tentative labor agreement. The union says it got "significant wage gains." Fred Katayama reports.
Preet Bharara, U.S. Attorney for the Southern District of New York, announces an agreement with General Motors to end the criminal investigation into it's handling of recalls. No reporter narration.
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