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News watch October 2012: today's industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hou Wednesday 31 October 2012• It's emerged GM's European 2012 earnings are down nearly half a billion dollars in Europe, where it now expects to lose $1.5bn to $1.8bn before interest and taxes for the full year (DetNews)• Ford has posted a third-quarter net profit of $1.63bn (£101bn) - almost matching its eventual profit total for the entire year 2011. Despite painful losses in Europe (Ford expects to lose $1bn in Europe alone this year) a resurgent North American market has buoyed Fords sales even higher than previous forecasts (Automotive News Europe)• Fiat CEO Sergio Marchionne has weighed in against Republican presedential nominee Mitt Romney, who argued that a move towards Chinese production would harm American jobs.

Hong-ik University Design Degree Show 2004

Graduating students from the Transportation Design course at Korea's Hong-ik University presented their work in the 2004 Degree Show entitled 'Design Concert', held December 7-13 in the International Design School for Advanced Studies (IDAS) in Seoul. The works shown are based on a wide range of vehicle concepts and brands. The' Professional day', which is an annual event, was also hosted on the exhibiition opening evening with graduating students, professors and professional designers from the automotive industry.

Driving Ban Over Unrestrained Child

A DRIVER has been banned for six months after he was caught on camera speeding at 70mph with a child standing or kneeling on the front passenger seat. John Naisbitt was fined £115 and given three penalty points on top of the ban after he admitted speeding and "carrying a passenger in a manner likely to cause danger". Northallerton Magistrates' Court heard that the 66-year-old from County Durham was caught as he passed a North Yorkshire Police camera on April 27 on the A59 at Menwith Hill.