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REFILE-UPDATE 1-Mitsui enters Brazil auto parts market with $58.5 mln buy - Nikkei  

(Adds source in headline) Feb 23 (Reuters) - Japanese trading company Mitsui & Co bought Brazil's Veloce Logistica SA for 4.7 billion yen ($58.5 million) to expand into the South American country's auto parts distribution business, the Nikkei said. Veloce Logistica manages parts transportation, runs distribution centers and handles deliveries in Brazil and Argentina for local plants of General Motors Co and other major automakers, the business daily said....More
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Fiat to reduce number of board members  

MILAN, Feb 22 (Reuters) - Italian carmaker Fiat plans to reduce the number of its board members to nine from the present 15, the company said on Wednesday. Fiat said the proposal will be made to the group's general and extraordinary shareholders meeting, which it has called for April 4. The reduction of the number of board members was to reflect "the greater focus of the group's activities following the demerger," Fiat said in a statement. The group's demerger of its automotive and industrial businesses became effective at the start of last year....More
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UPDATE 1-Mitsui enters Brazil auto parts market with $58.5 mln buy  

Feb 22 (Reuters) - Japanese trading company Mitsui & Co bought Brazil's Veloce Logistica SA for 4.7 billion yen ($58.5 million) to expand into the South American country's auto parts distribution business, the Nikkei said. Veloce Logistica manages parts transportation, runs distribution centers and handles deliveries in Brazil and Argentina for local plants of General Motors Co and other major automakers, the business daily said....More
Newswire

UPDATE 1-US gasoline demand up ahead of holiday-MasterCard  

(Adds quote, graphic) NEW YORK, Feb 22 (Reuters) - U.S. retail gasoline demand rose last week as motorists filled up their tanks ahead of the long holiday weekend, MasterCard said in its weekly SpendingPulse report on Wednesday. Retail gasoline demand rose by 3.4 percent in the week to Feb. 17, compared with the previous week, even as the average price of gasoline rose by 3 cents a gallon to $3.53, MasterCard data showed....More
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U.S. gasoline demand up ahead of holiday-MasterCard  

NEW YORK, Feb 22 (Reuters) - U.S. retail gasoline demand rose last week as motorists filled up their tanks ahead of the long holiday weekend, MasterCard said in its weekly SpendingPulse report on Wednesday. Retail gasoline demand rose by 3.4 percent in the week to Feb. 17, compared with the previous week, even as the average price of gasoline rose by 3 cents a gallon to $3.53, MasterCard data showed....More
Newswire

UPDATE 3-Peugeot and GM in alliance talks -sources  

* Peugeot, GM discuss manufacturing alliance-sources * French minister confirms discussions taking place * Peugeot-GM could pool small cars, commercial vans - analysts * Peugeot shares surge (Adds comment, details, background) By Christiaan Hetzner and Laurence Frost FRANKFURT/PARIS, Feb 22 (Reuters) - General Motors and PSA Peugeot Citroen are discussing a manufacturing alliance designed to stem losses in Europe and reduce production costs elsewhere, sources with knowledge of the matter said....More
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TEXT-Fitch: Peugeot PSA alliances potential answer to structural woes  

(The following statement was released by the rating agency)...More
Newswire

EUROPE RESEARCH ROUND-UP: Statoil, GSK, Nokia  

Feb 22 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Bayer, RWE and GSK, on Wednesday. HIGHLIGHTS * Euro Pharma: Berenberg ups GlaxoSmithkline to buy, cuts Bayer to hold * Statoil : HSBC cuts to neutral from overweight * Nokia : UBS adds to its most preferred list * RWE : Barclays raises to equal weight from underweight Following is a summary of research actions on European companies reported by Reuters on Wednesday. Stock entries are in alphabetical order....More
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French wealthy eye escape exit as tax burden rises  

By Christian Plumb PARIS, Feb 22 (Reuters) - France's wealthy are looking at joining the ranks of celebrities in tax exile including rocker Johnny Hallyday, model Laetitia Casta and restaurateur Alain Ducasse, fearing that Socialist Francois Hollande will soak the rich if he wins the presidency. Advisers to the millionaires report a rise in inquiries from those considering an exit to Switzerland or Monaco - or even Belgium and Britain - before presidential elections this spring....More
Newswire

Deals of the day -- mergers and acquisitions  

(Updates Ireland's sale of state assets; Adds Bunge, SUEK and others) Feb 22 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 1430 GMT on Wednesday. ** The Irish government raised its target for the sale of state assets to 3 billion euros ($4 billion) on Wednesday, unveiling a final list of utilities set to go on the block headed by the energy business of its Bord Gais utility....More
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