Tag Archive
Ongoing Struggle At LOreal – US-FOREX.US
Billionaire Liliane Bettencourt, L’Oreal’s largest shareholder, does not have much to look forward to this year. Not only will her private life be scrutinized in a much-publicized legal battle between her daughter Francoise and photographer Francois-Marie Banier-who stands accused of wheedling nearly 1.4 billion out of the 86-year-old Liliane-but the woeful performance of L’Oreal is… »
Germanys Electric Car P.R. Stunt – US-FOREX.US
European carmakers are struggling to reinvent themselves in an effort to fight falls in sales; on Wednesday Berlin predicted 1 million electric cars on Germany’s roads by 2020, as Europe’s largest economy tries to create a positive impact on the ailing automotive sector. But adding electric cars to the mix won’t do the trick,… »
Switzerland Caves In To IRS Demands – US-FOREX.US
To assist the U.S. government Switzerland has lifted its veil of secrecy and has agreed to give 4,450 banking client names to the Internal Revenue Service. The international crackdown on tax evasion has been gaining ever more momentum as governments, smarting from the economic crisis, seek to claw back as much revenue as they can…. »
En Route VW And Porsche – US-FOREX.US
Europe’s biggest carmaker, Volkswagen, is finally taking over Porsche after agreeing on Thursday to buy a 42% stake in the sports car unit of debt-ridden Porsche, ending months of fractious relations between the two companies. Volkswagen expects the deal to be completed by 2011 and provide a total of 700 million euros in savings… »
VW And Porsche United- US-FOREX.US
Europe’s biggest carmaker, Volkswagen, is finally taking over Porsche after agreeing on Thursday to buy a 42% stake in the sports car unit of debt-ridden Porsche, ending months of fractious relations between the two companies. Volkswagen expects the deal to be completed by 2011 and provide a total of 700 million euros in savings… »
The Opel Saga Continues – US-FOREX.US
It had seemed like a done deal. Canadian auto parts supplier Magna said it had reached an agreement in principle with General Motors’ management over a contract to buy a stake in GM’s European unit Adam Opel. But on Friday, Opel’s other bidder, Belgium-listed holding RHJ International, said it is still “very much” in the… »
Britain Expected To Back A350 – US-FOREX.US
European airplane manufacturer Airbus is likely to get a positive boost to its A350 jet program on Friday, according to industry sources, as British business secretary Peter Mandelson will very probably announce financing support for the mid-sized airliner and might even specify a sum of close to 1 billion at a press conference.Several industry-watchers told… »
Magna Closing In On Opel- US-FOREX.US
The Adam Opel saga is finally coming to an end. Canadian auto parts supplier Magna has reached an agreement in principle with General Motors’ management over a contract to buy a stake in General Motors’ European unit Opel, according to reports.The news follows weeks of constant bickering between the bidders – including Italy’s Fiat and… »
AB Inbev Tiptoes Into Second Half Of 2009 – US-FOREX.US
There’s no reason to get excited yet. Anheuser-Busch InBev, the brewer of Stella Artois and Budweiser, said on Thursday profits grew 28% in the second quarter but warned that it will come under significant pressure in the second half of the year as beer volumes drop.Shares of AB InBev
, which have more than doubled since… »
Auf Wiedersehen Recession – US-FOREX.US
It seems like exceptionally good news. Germany, Europe’s biggest economy, has just confounded expectations and emerged from its recession, thanks to reporting a quarter-on-quarter growth rate of 0.3% for the second quarter, instead of the contraction of 0.2% that was expected. A margin of five basis points is quite a difference-but don’t get too excited…. »