BMW CEO's future in doubt as board tensions emerge, report says

Swedish supplier Veoneer plans to shore up its working capital by $500 million through the sale of bonds and shares, as it waits for a strong order book to translate into a pickup in earnings.

Maven, the mobility brand operated by GM, said its car-sharing service will remain in operation in Detroit and Los Angeles while it discontinues operations in other major U.S. cities.

Incoming boss Ola Kaellenius is working on a cost-cutting program, dubbed "Move," to reach profit margin targets threatened by trade talks and product launch issues, a German newspaper reported.

State senators passed incentives that would give GM $50 million in tax credits over 10 years in return for a $750 million investment to expand a light-truck assembly plant.

Investors worry about the automaker's cash burn, sales outlook and problems with an Autopilot system that CEO Elon Musk has held out as key to the electric carmaker's future. One analyst called the company's predicament a "code red situation."

The company's new electronic systems, designed to handle internet software downloads, will be capable of handling up to 4.5 terabytes of data processing power per hour, five times the current capability.

Jaguar Land Rover expects cost reductions, led by job cuts, and a turnaround in China, where inventories have been trimmed, to shore up turnaround efforts at Britain’s largest automaker.

"Saying goodbye to colleagues is difficult," CEO Jim Hackett writes to employees.

U.S. Trade Representative Robert Lighthizer will visit Japan on May 24 to meet Economy Minister Toshimitsu Motegi to accelerate trade talks ahead of a leaders' summit a few days later, Reuters reported, citing sources with direct knowledge of the plan.

S&P's move to place the automaker’s rating on negative watch follows a weaker earnings outlook and a heightened chance that Nissan's profit recovery will be delayed.