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Workhorse to Spin Off Aviation Business

Workhorse Group announced its intention to spin off its aviation division, which includes its SureFly personal helicopter, into a separate publicly traded company named SureFly Inc. – but it will hold on to the HorseFly drone designed for parcel deliveries.

Element Financial Closes $4.8B in Funding

Toronto-based Element Financial Corp. has closed $4.8 billion in rated asset-backed security funding that will fuel the company's aggressive move into the U.S. fleet management business.

Element to Acquire GE Capital's Fleet Business

Toronto-based Element Financial Corp. has entered an agreement with General Electric to acquire GE Capital's fleet business in the U.S., Mexico, Australia and New Zealand for $6.9 billion.

GE to Sell Fleet Management Unit by 2018

General Electric will sell off its fleet management and automotive financing business units by 2018 under a strategic plan to focus on its core businesses and shed most of its finance and banking businesses, the company has announced.

Navistar International Trims 1st Quarter Loss

Navistar International Corp. announced on Tuesday that it is still losing money, but nowhere near as much as it did a year earlier, thanks to higher sales and lower warranty costs.

Clean Energy Fuels Sales Jump

Despite lower diesel prices potentially making natural gas less attractive as a fuel, Clean Energy Fuels Corp. sold more of its alternative to trucking’s main fuel last year while reporting mixed financial numbers.

Hankook Tire Reports Solid 2014 Growth

Hankook Tire recorded revenue of about $6.3 billion and an operating profit of $979 million for 2014, the company announced. The overall operating profit was on par with 2013 results.

Navistar Details Post-Turnaround Plans

Top executives of Navistar detailed how the manufacturer will build on the ground it gained in the past two years and gave a five-year plan for the future at the company's analyst day, hosted at Navistar headquarters.

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