General Motors Co. plans to name Mary Barra to succeed Dan Akerson as chief executive officer, making her the first female CEO in the global automotive industry, a person familiar with the effort said.
Volvo AB, the world’s second-largest truckmaker, agreed to sell its unprofitable North American construction-equipment rental business to Platinum Equity for 7.2 billion kronor ($1.1 billion) to focus on manufacturing.
General Motors Co. is free from U.S. taxpayer ownership almost half a decade after first receiving government aid, underscoring the domestic auto industry’s rebound from the deepest downturn since the Great Depression.
Sixteen broken-down transport planes that cost U.S. taxpayers at least $486 million are languishing among the weeds, wooden cargo boxes and old tires at Kabul International Airport, waiting to be destroyed without ever being delivered to the Afghan Air Force.
Sysco Corp. agreed to acquire closely held US Foods for $3.5 billion, adding brands from Cattleman’s meat to Devonshire desserts, in the largest food-distribution deal in eight years in North America. The shares jumped the most in 2 1/2 years.