US auto industry legend Lee Iacocca dies age 94

Automobile industry legend Lee Iaococca, who is credited with creating the iconic Ford Mustang and saving Chrysler from bankruptcy, died Tuesday at the age of 94, US media reported.

Ford to cut 12,000 jobs in Europe as part of restructuring

Carmaker Ford said Thursday it is shedding 12,000 jobs in Europe to increase profitability, part of a global trend of cost cuts by automakers facing shifting consumer tastes and heavy investments in electric cars.

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