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  • Newswire

    Proxy Adviser Recommends Against FCA Cross-Border Merger  

    Fiat investors should vote against a cross-border merger of the two automakers, advisory group ISS says, because the action would diminish shareholder rights....More
  • Newswire

    UPDATE 2-VW faces battle with workers over cost cutting plans  

    * VW urgently needs higher profit to fund growth - CEO * CEO addresses over 20,000 workers at VW's German base * Works council chief sees conflicts with management (Adds works council chief, analyst comments, background) By Andreas Cremer and Jan Schwartz BERLIN, July 23 (Reuters) - Volkswagen, Europe's biggest carmaker, faces a battle with workers over cost cuts at its biggest car division, a central plank of its drive to meet profit margin targets....More
  • Newswire

    ZF Courting TRW for Car Connectivity, Self-Driving Savvy  

    An executive with the privately held German supplier says TRW is well-positioned to help it expand into areas such as Internet-enabled and autonomous-driving technology....More
  • Newswire

    Takata Links $440 Million Special Loss to Airbag Recalls  

    The Japanese manufacturer, which took a ¥30.4 billion charge in the year to 2013 following several global recalls of cars equipped with its airbags, still projects a net profit of ¥16 billion for the year ending in March 2015....More
  • Newswire

    UPDATE 1-VW plans 5 bln euros in cutbacks to boost brand margins  

    * VW may cease models, cut procurement costs * VW brand trails 6 pct profit margin goal * VW drawing up new mid-term group efficiency program (Adds CEO quote, detail and background) HAMBURG/BERLIN, Germany, July 15 (Reuters) - Volkswagen plans to cut costs at its core passenger-car brand by about 5 billion euros ($6.8 billion) per year from 2017, according to documents obtained by Reuters on Tuesday....More
  • Newswire

    EU Investigates Hungarian State Aid for Audi  

    The European Union's executive body is investigating whether the Hungarian government complied with EC rules in granting aid to the German automaker....More
  • Newswire

    Founding Family Could Increase Control of Fiat After Chrysler Merger  

    The Agnelli family owns 30% of Fiat Chrysler Automobiles, but their stake could rise to 46% under a plan to reward long-term investors as part of the automakers' merger....More
  • Newswire

    Renault-Nissan Taking Control of Russia's AvtoVAZ  

    The alliance between the French and Japanese automakers now holds a 67.1% stake in the holding company that controls Russia's largest automaker....More
  • Newswire

    CORRECTED-Peugeot expects 2,500 early retirements in 2014-15  

    (Corrects 2013 payroll to 15.1 pct of revenue in paragraph 2) PARIS, June 26 (Reuters) - PSA Peugeot Citroen said on Thursday that up to 2,500 older French workers will leave the carmaker's payroll in 2014-15 as it cuts headcount under a deal struck with unions last year. Paris-based Peugeot, which employs some 70,000 people in France, has pledged to cut payroll costs to 12.5 percent of group revenue by 2016 from 15.1 percent last year, under the "Back in the Race" recovery plan unveiled in February....More
  • Newswire

    Nissan CEO Ghosn's Fiscal 2013-2014 Pay $9.8 Million  

    Ghosn's $9.8 million salary, which excludes stock options, is 0.7% higher than the previous fiscal year's and is in addition to the $3.6 million he received in 2013 as CEO of French automaker Renault....More
  • Newswire

    UPDATE 2-Renault seeks financial partner to resume business in Iran  

    * In talks with U.S., French governments over Iran * Has been approached by Turkish, international banks (Adds Renault executive comment on Latin America) By Evren Ballim ISTANBUL, June 19 (Reuters) - French automaker Renault is looking for a financial partner to resume full operations in Iran and is in talks with the U.S. and French governments on the issue, one of its senior executives said....More
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