Porsche picks new r&d chief as suspended Hatz quits

UPDATED: 5/3/16 10:15 am ET - adds statement

Porsche AG's supervisory board has appointed Michael Steiner as new head of r&d, replacing Wolfgang Hatz who will leave the sports-car maker at his own request.

Takata sets aside additional $189 million to cover airbag recall costs

Takata raised provisions for its airbag recalls that involve more than a dozen auto manufacturers, after denying reports that the biggest safety

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