General Motors CEO Mary Barra is back on Capitol Hill Wednesday before the House Energy & Commerce Committee to deliver the results of the automaker's internal probe into why it took so long for GM to recall cars with an ignition switch issue. Barra will be joined by the former U.S. Attorney, Anton Valukas, who was hired by GM to prepare the report.
GM CEO Mary Barra delivers findings from its' internal probe by outside lawyer Anton Valukas on why it took more than a decade to recall faulty ignition switches that are believed to have caused 13 deaths.
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.
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.
U.S. markets opened Friday's session in the green following on the heels of gains in Europe earlier in the morning, while cybersecurity company FireEye says it has agreed to acquire Madiant for $1B in cash and stock.
U.S. stock futures are pointing to a lower open on Wall St. as Fiat signs a deal to buy the remainder of Chrylser it does not already own and PMI Data out of Europe and Asia signals a mixed picture on the manufacturing front.
Macquarie Securities' Amy Yong says that while TV everywhere is disrupting appointment viewing habits the real concern for pay TV providers is how to monetize digital platforms.
Macquarie Securities' Cable Analyst Amy Yong says AMC Networks is her favorite stock in the sector because it is embracing the Netflix platform for its shows like 'Breaking Bad' and 'Walking Dead' and that is helping to drive traffic to more traditional platforms.
Wells Fargo Advisors' Scott Wren says that while there will be volatility in the markets over the next several months he expects the markets to end 2014 roughly 7% higher than where they are today.
Gold prices closed at their lowest level in more than three years and oil prices climbed to their highest level since October.