Daily Archives: April 1, 2014

Mary Barra, General Motors’ chief executive, is struggling to contain the fallout from the revelation that the carmaker failed for more than a decade to reveal concerns about the safety of ignition switches on some of its compact cars.

GM this week announced a slew of new recalls and more than doubled its expected charge this quarter to $750m. On Tuesday, Ms Barra and David Friedman, acting administrator of the National Highway Traffic Safety Administration, appear before the US House of Representatives’ energy and commerce committee to explain what went wrong and why.

Robert Wright and Shannon Bond report from New York

 

Leonardo Del Vecchio and Rupert Murdoch have plenty in common. The chairman of Luxottica, the eyewear group, and the chairman of News Corp and 21st Century Fox were born in the 1930s. Both are billionaire patriarchs of family businesses they largely built themselves but now share with outside investors. Both have six children from different relationships, and both have wrestled with the question of succession.