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Financial News USA
May 23


Chrysler sales buck industry slump and What to expect from Apple's iCloud PDF Print E-mail
NEW YORK (CNNMoney) -- Chrysler Group sales bucked an industry slide last month as the automaker's redesigned models contributed to a 10% increase compared to last year.Meanwhile, Toyota (TM), reported a 33.4% drop in U.S. sales compared to the same month last year while Honda (HMC) reported a 22.5% drop. Nissan (NSANY) reported a decline of 9%.The two largest domestic automakers reported sales that were about the same as last year or a little lower. General Motors (GM, Fortune 500) reported a decline of a little over one percent compared to May of last month. Ford's (F, Fortune 500) were almost exactly even with last year.Chrysler beat Toyota in sales for the first time since February, 2006, according to auto sales trackers at Truecar.com.Chrysler, which had been heavily reliant on sales to corporate and rental fleets in the recent past, reported an upswing in its non-fleet retail sales of 27%. [Read the full article]

The company said it would launch iCloud, which it described as "Apple's upcoming cloud services offering."Jobs will shed more light on iCloud during a keynote that will kick off Apple's annual WWDC conference on Monday at 10 a.m. PT in San Francisco, but digital media experts are already abuzz about what iCloud might offer.Analysts say one thing is for sure: Apple's new service will have to be more than just an online media locker a la Amazon Cloud Drive or Google Music.Apple (AAPL, Fortune 500) has been rumored to be working on developing a cloud music service for years, but it was beaten to the punch by Amazon (AMZN, Fortune 500) and Google (GOOG, Fortune 500), which debuted their own online music services earlier this year. Those services allow users to stream their entire libraries over the Internet to any device, but they require people to upload their music to the companies' servers. That can literally take days. [Read the full article]

WASHINGTON (CNNMoney) -- White House adviser Elizabeth Warren's reward for dealing with a cantankerous House committee last week: Another even longer day with many of the same congressmen.House Oversight Committee chair Darrell Issa asked Warren to come back for more questioning after the tense hearing, which ended abruptly when Warren left due to a previously scheduled event in her capacity setting up the Consumer Financial Protection Bureau (CFPB).Issa's letter said he wanted to question Warren again to give lawmakers more time to grill her. He cited her "unwillingness to provide direct and responsive answers to a number of important questions" at last week's hearing, according to the letter.The California Republican asked her to clear an entire day in June for the hearing. The hearing would be Warren's third appearance before a GOP-controlled House panel this year. [Read the full article]

NEW YORK (CNNMoney) -- Chrysler Group sales bucked an industry slide last month as the automaker's redesigned models contributed to a 10% increase compared to last year.Meanwhile, Toyota (TM), reported a 33.4% drop in U.S. sales compared to the same month last year while Honda (HMC) reported a 22.5% drop. Nissan (NSANY) reported a decline of 9%.The two largest domestic automakers reported sales that were about the same as last year or a little lower. General Motors (GM, Fortune 500) reported a decline of a little over one percent compared to May of last month. Ford's (F, Fortune 500) were almost exactly even with last year.Chrysler beat Toyota in sales for the first time since February, 2006, according to auto sales trackers at Truecar.com.Chrysler, which had been heavily reliant on sales to corporate and rental fleets in the recent past, reported an upswing in its non-fleet retail sales of 27%. [Read the full article]
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