Tuesday Ticker – April 23, 2019

Toronto, Ontario — April 23, 2019 —

An Uber Investment

Uber has received a $1 billion capital injection from financial services company SoftBank, auto supplier Denso and Toyota. The investments will go toward Uber’s autonomous vehicle business unit.

Including this investment, Uber’s self-driving car business now totals $7.3 billion, most of which will help Uber invest in more tools for self-driving technology as well as help the company out its debt. So far Uber has spent $457 million on R&D for self-driving technologies and flying cars last year. This is Denso’s first investment with Uber and could open up a door to a possible partnership. This could give the ride-sharing company some technical expertise on car designs.

Fiat Chrysler’s Newest Investment

Just weeks after Fiat Chrysler announced it would be cutting the third shift at the Windsor Assembly Plant by the end of this September, the automaker announced plans to invest $350 million this year in its Windsor plant for future product. According to Unifor president Jerry Dias, the investment signals FCA’s commitment to the minivan plant. But he is unsure if this will save the third shift from being cut.

PPG’s Growth

During PPG’s annual meeting of shareholders, the company discussed its growth last year. In 2018, the company completed four acquisitions one of which includes, Paintzen, a technology platform that allows customers to pick colours and schedule painting services. The company also saw a four percent growth in sales from 2017 in continuing operations. There was also growth in adjusted earnings per diluted share, despite a significant and persistent raw material and logistics cost inflation. Adjusted earnings per diluted share from continuing operations were $5.92, compared to $5.86 in 2017.

 

 

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