General Motors CEO Mary Barra testifies before a U.S. Senate committee at 10:15 a.m. ET to answer questions about why GM failed to fix an ignition switch defect linked to at least 31 crashes and 13 deaths. Barra, who testified before the House Energy & Commerce Subcommittee on Tuesday, will address GM's failure to order a recall despite discovering a problem more than a decade ago.
GM CEO Mary Barra apologized to its customers for failing to fix a safety defect with its cars on Capitol Hill Tuesday.
U.S. auto sales in March topped forecasts bringing the annual rate to 16.4 million units. Every category, from domestic cars and trucks to imported cars and trucks saw sales gains.
General Motors CEO Mary Barra answers questions about the automaker's ignition switch recall. GM has recalled nearly 4 million vehicles for repairs over the past two months. The most serious was a recall to replace faulty ignition switches that have been linked to 13 deaths. GM says it plans to take a charge of about $750 million as part of its first-quarter results to cover the cost of the recalls.
GM CEO Mary Barra will be in the hot seat before two congressional committees this week.
Ford's Americas President Joe Hinrichs says March sales will be much improved from the first two months of the year, when unseasonably cold weather swept through much of the U.S.
Markets opened lower on Tuesday despite an upward revision in the fourth quarter GDP figures and weekly jobless claims numbers which appear to point to a continuing improvement in the U.S. economy.
Johnson Controls' project to make Hawaii's 12 airports more energy efficient is expected to save the state more than $500 million dollars in energy costs over the next twenty years.
The key takeaway from Fed Chief Yellen's remarks on Wednesday is that the underlying economic environment looks brighter and that will be good for corporate growth.
The National Retail Federation estimates Americans will spend nearly $5 billion dollars on everything from green beer to green t-shirts.