WASHINGTON/DETROIT (Reuters) - President Donald Trump urged General Motors Co and Ford Motor Co on Friday to quickly build badly needed ventilators for COVID-19 patients and suggested he could invoke the Defense Production Act. GM and Ford announced they are working with companies to help boost ventilator...

President Donald Trump criticized General Motors Co. in a series of tweets Friday, about the automaker not providing the number of ventilators that were expected. "As usual with 'this' General Motors, things just never seem to work out," Trump tweeted. "General Motors MUST immediately open their stupidly abandoned Lordstown plant in Ohio, or some other plant, and START MAKING VENTILATORS, NOW!!!!!!" He stated that GM said it will only provide 6,000 ventilators in late April, and they want "top dollar," after saying they would provide 40,000 ventilators "'very quickly.'" He added, "Always a mess with Mary B. Invoke'P,'", in reference to GM Chief Executive Mary Barra and with P referring to the Defense Production Act. GM's stock was down 5.2% midday trading Friday, but was little changed since Trump's tweets. The stock was up 18% this week, after plummeting 47.8% over the previous five weeks. The Dow Jones Industrial Average has gained 13.6% this week, after shedding 34.8% the previous 5 weeks....

General Motors , which has closed factories because of the coronavirus pandemic, said salaried staff will have 20% of their pay deferred beginning next week through the fourth quarter or first quarter of 2021. In an internal memo described to Bloomberg, GM's senior management team will take pay cuts of as much as 10% and defer 20% of their cash compensation. GM also will put 6,500 employees, many of them engineers, on leave with 75% of their pay until production resumes....

- The White House has canceled an announcement of a joint venture between General Motors and Ventec Life Systems that would allow for the production of as many as 80,000 ventilators after the Federal Emergency Management Agency said it needed more time to assess whether the estimated cost was prohibitive...

President Donald Trump on Thursday night expressed doubt that New York really needed tens of thousands of ventilators, despite the urgent pleas from health-care professionals and that state’s governor....

(Bloomberg) -- General Motors Co. is freezing work on new-vehicle programs and deferring pay for white-collar staff to conserve cash while many of the carmaker’s plants are shut down as a result of the coronavirus pandemic.In an internal memo described to Bloomberg News, the automaker said salaried staff...

General Motors Chief Executive Mary Barra and Chief Financial Officer Dhivya Suryadevara told employees on Thursday the company needed to take immediate aggressive steps to cut costs. On a webcast, Suryadevara warned "if we don’t take significant austerity measures we will do serious damage to...

It might not feel like it, but a new bull market in stocks is under way—at least by one definition. The Dow Jones Industrial Average is up more than 23% from recent intraday lows. Will the Covid-19 bull market date to March 26, 2020?...

General Motors Co said Thursday it will extend a shutdown of its North American plants beyond March 30, but added it does not know when it will restart operations. All employees will have 20% of their cash compensation deferred, beginning April 1, the company added stating that healthcare benefits...

Moody's Investors Service, ("Moody's") downgraded U.S. Farathane, LLC's ("USF" or "US Farathane") Corporate Family Rating (CFR) to Caa3 from B3, Probability of Default Rating to Caa3-PD from B3-PD, and senior secured first lien term loan rating to Caa3 from B3. The ratings downgrade reflects Moody's view that US Farathane's weak liquidity profile exposes the company to heightened default risk given the uncertainty around near-term new vehicle production in the US and consumer demand as a result of the coronavirus pandemic. Moody's expects the company's earnings and cash flow to be pressured over the near-term while liquidity remains constrained by required debt amortization and marginal cushion under its leverage covenant that could limit the company's ability to borrow under its revolving credit facility....