Business

Volkswagen Chief Executive Herbert Diess has asked the families who control a majority voting stake in the world's largest carmaker to back a contract extension for him in a bid to break a deadlock, two people familiar with the matter said.

Hyundai Motor Co and Kia Motors' U.S. units on Friday agreed to a record $210 million civil penalty after U.S. auto safety regulators said they failed to recall 1.6 million vehicles for engine issues in a timely fashion.

General Motors Co is planning to apply for a banking charter that would allow its lending unit to hold deposits and expand its auto-finance business, the Wall Street Journal reported on Friday, citing people familiar with the matter.

It has been a year many would prefer to forget and a month of 2020 still remains -- one replete with events that could trip up markets. Here they are:

Diego Maradona's death has triggered an outpouring of grief around the world. Now comes the scramble for a share of the soccer legend's complex financial legacy, ranging from his iconic jerseys to luxury cars, image rights and even an amphibious tank.

Airbus has found buyers for six aircraft from the A320neo family rejected by one of its main customers, Malaysia's AirAsia, as it works off a surplus left by the coronavirus crisis, industry sources said.