REUTERS - 23 minutes ago
ROME, June 7 (Reuters) - Fiat Chrysler diesel engines have been tested and they comply with emissions regulations, Italy's Transport Minister Graziano Delrio said on Tuesday, after German media reported that irregularities had been found.
Germany began testing vehicles of several carmakers in the wake of the diesel emissions scandal that engulfed Volkswagen , Europe's biggest manufacturer.
"There were no illegal devices found on diesel models by other carmakers except for those Volkswagen models already identified," Delrio said in Luxembourg. His comments were confirmed by a spokesman in Rome.
Fiat cars showed "full compliance with emissions procedures" during tests "done while driving, and we excluded any misleading procedures", he said.
(Reporting by Steve Scherer; Editing by Crispian Balmer)
Do not believe the everyday BS from blogs and the financial media... they are not real journalist with real fact. This is why the stock market is so manipulated to make you sick. No control no oversight write all the BS you want so we can make the $$$.
As I was saying...you see how fast the media spins the news? Yesterday it was for the short to cover their position and going long an baba. The headlines are already changing for BABA.
UPDATE Alibaba: SEC Investigation Is A Misunderstanding, Says Morgan Stanley ( Read the article from Barron's)
BABA will be cleared of any wrongdoing...in the meantime the short have covered their position and the retailer gets F$#% again and again because we are always the last to know.
Jake Spring: Reuters
BEIJING -- Guangzhou Automobile Group Co., whose partnership with Fiat Chrysler Automobiles NV enables the Milan-listed automaker to manufacture in China, wants Fiat Chrysler to return the favor by helping it enter the United States, a top executive told Reuters.
Chinese brands have yet to find much success abroad, generally selling small volumes in developing markets that are highly price competitive.
China exported 728,200 mostly home-brand vehicles last year, a decline of 20 percent as automakers struggled with instability in markets such as Russia and the Middle East, as well as with currency fluctuation, according to the China Association of Automobile Manufacturers.
Guangzhou Auto's subsidiary GAC Motor declared intentions in 2015 to reach the U.S. market by next year, where it would become the first Chinese passenger car brand sold to American consumers.
"Chrysler's development in China required our support. Now for GAC Motor's development in the U.S. we also hope for Chrysler's support and help," GAC Motor General Manager Wu Song said on the sidelines of the Beijing auto show this week.
Wu and representatives of GAC Motor did not elaborate on what type of support Fiat Chrysler might offer. A Fiat Chrysler spokesman declined to comment.
Foreign car makers in China are required to form joint ventures with local firms if they want to manufacture domestically and thereby avoid hefty import taxes.
Guangzhou Auto was the sixth-largest automaker in China by sales volume last year, including vehicles produced through joint ventures with Fiat Chrysler, Toyota Motor Corp., Honda Motor Co. and Mitsubishi Motors Corp.
Extending cooperation beyond China is uncharted territory, though General Motors and China's largest automaker, SAIC Motor Corp., plan to begin joint production in Indonesia next year.
A U.S. appeals court threw out Bank of America's $1.27 billion penalty in a fraud case. CNBC's Diana Olick reports the details.
bought 6,800 shares earlier @ $6.70 and I will keep on buying add on if going down. You got to play the same game when it needed to be. ;-)