LONDON The head of Britain’s biggest trade union Unite is likely to meet the CEO of Peugeot (PEUP.PA) on Friday in London to discuss the potential takeover of General Motors’ (GM.N) European operations, a trade union source told Reuters. “It looks like it is happening on Friday morning,” the source said of the meeting between Unite General Secretary Len McCluskey and Peugeot Chief Executive Carlos Tavares. There […]
BRUSSELS U.S. Vice President Mike Pence told senior European Union officials in Brussels on Monday that the Trump administration was looking at ways to “deepen our relationship” with the EU. President Donald Trump alarmed EU leaders by endorsing Britain’s decision to leave the bloc and by suggesting last month that other states might follow. Pence spent the weekend in Germany seeking to reassure Europeans that Trump was […]
LONDON Shares in Anglo-Dutch consumer goods group Unilever (ULVR.L) (UNc.AS) dropped 8 percent on Monday after U.S. rival Kraft Heinz Co (KHC.O) abruptly ditched its surprise $143 billion merger proposal. Backed by Warren Buffett and the private equity firm 3G, Kraft had wanted to buy Unilever to build a global consumer goods giant but its offer was flatly rejected on Friday by the maker of Lipton tea […]
By Carl O’Donnell | NEW YORK NEW YORK U.S. food company Kraft Heinz Co (KHC.O) withdrew its proposal for a $143-billion merger with larger rival Unilever Plc (ULVR.L), the companies said on Sunday, raising questions about whether Kraft could turn its focus to another target. Kraft had made a surprise offer for Unilever to build a global consumer goods behemoth that was flatly rejected on Friday by […]
Kraft Heinz, the Warren Buffett-backed US food group, dropped its $143bn pursuit of consumer products rival Unilever on Sunday, only two days after publicly confirming its interest in acquiring the Anglo-Dutch rival. Kraft Heinz said in a joint statement with Unilever that it had “amicably agreed to withdraw its proposal for a combination of the two companies”. A takeover would have created the world’s second-largest consumer goods […]
LONDON British Prime Minister Theresa May has asked top officials to examine U.S. food company Kraft Heinz’s (KHC.O) proposed takeover of Unilever Plc (ULVR.L), the Financial Times reported on Sunday without citing any sources. Kraft’s surprise $143 billion offer, which would be the largest ever acquisition of a UK-based company, was flatly rejected by Unilever on Friday. The Financial Times said May had ordered officials to see […]
The EU’s Brexit negotiators expect to spend until Christmas solely discussing Britain’s divorce from the bloc, denying London any trade talks until progress is made on a €60bn exit bill and the rights of expatriate citizens. A narrow divorce-first approach favoured by Michel Barnier, the EU’s chief negotiator, would represent a big setback for Britain’s aim for a fast-track EU trade deal, completed by the end of […]
FRANKFURT PSA Group (PEUP.PA) has pledged to the German government to continue operating all four of Opel’s German production sites as part of the French carmaker’s planned takeover of General Motors’ (GM.N) European arm, German Sunday paper Bild am Sonntag reported. The planned sale was confirmed by both companies on Tuesday, raising the specter of cutbacks in the wake of a deal because Europe’s car industry has […]
Theresa May has ordered her top officials to examine Kraft Heinz’s proposed takeover of Unilever to see if it raises concerns for the wider British economy and merits government intervention. The $143bn takeover approach is a big test for Mrs May’s industrial policy: last year she criticised Kraft’s 2010 takeover of the British chocolate maker Cadbury — the US company reneged on a promise to retain factories […]
By Laurence Frost and David Milliken | PARIS/LONDON PARIS/LONDON The chief executive of Peugeot manufacturer PSA Group (PEUP.PA) will meet British Prime Minister Theresa May to discuss his firm’s planned acquisition of General Motors’ (GM.N) Opel and Vauxhall operations, a government spokesman said on Saturday. Both Britain and Germany fear PSA will cut jobs if the takeover goes ahead, and British politicians are particularly concerned that the […]
February 18, 2017 by: Peter C ampbell, Motor Industry Correspondent Theresa May has agreed to meet PSA chief executive Carlos Tavares to discuss the French carmaker’s proposals to buy General Motors’ European operation Opel, which includes Vauxhall. Downing St confirmed the prime minister’s involvement as talks between PSA, the owner of Peugeot and Citroen brands, and GM move towards a conclusion, which is expected in the next […]
By Thomas Escritt | SPIJKENISSE SPIJKENISSE Geert Wilders launched his election campaign on Saturday, promising to crack down on “Moroccan scum” he said were making the streets unsafe and urging the Dutch to “regain” their country with a vote for his anti-Muslim, anti-EU Freedom Party. Wilders was surrounded by police and security guards during a walkabout in his party’s stronghold of Spijkenisse, part of the ethnically diverse […]
LONDON Britain has offered Peugeot manufacturer PSA Group (PEUP.PA) assurances on post-Brexit trade and supply chains in an attempt to protect Vauxhall car plants after a possible takeover, the Financial Times reported on Saturday. Business minister Greg Clark met French politicians and PSA executives in Paris on Thursday to discuss their plan to buy General Motors’ (GM.N) European unit, Opel, which include Vauxhall plants in Britain. The […]
MUNICH Russia was behind a false report of a rape by German soldiers in Lithuania that was intended to undermine support for NATO’s new eastern force, a senior NATO general said on Saturday, warning Europe to expect more such “fake news”. Petr Pavel, who heads NATO’s military committee, said he also hoped to hold the first telephone call in more than two years with Russia’s military chiefs […]
Current economic conditions around the world provide a good foundation for growth. But unprecedented levels of market uncertainty mean that organizations have to be ready to change strategy faster than ever before. Growth around the world In the US, President Donald Trump has inherited an economy with strong fundamentals: low inflation, and the lowest unemployment rate since 2007. He has promised a pro-business economic agenda with lower […]
LONDON London will introduce a charge on the oldest and most polluting vehicles from October in a new effort to improve air quality, Mayor Sadiq Khan said on Friday. Called the T-charge, the 10-pound ($12.43) daily tax will apply to diesel and petrol vehicles typically registered before 2006 which do not meet the so-called “Euro 4” 2005 European directive to regulate vehicle emissions. The new charge will […]
By Robin Emmott | BRUSSELS BRUSSELS European NATO allies agreed on Thursday to jointly buy planes and submarines and possibly open a new command headquarters for elite troops as Europe seeks to show the United States it is serious about its own security. In signing ceremonies at NATO, defence ministers from France and Germany said they will buy Lockheed Martin C-130J transport planes, while Germany, Belgium and […]
LONDON The head of Britain’s Supreme Court has accused politicians of not doing enough to protect the independence of the judicial system when judges came in for harsh criticism from pro-Brexit newspapers last year. England’s High Court triggered an angry response from some newspapers in November when it ruled that the decision to begin Britain’s formal divorce talks with the European Union had to be approved by […]
By Phil Stewart and Robin Emmott | BRUSSELS BRUSSELS U.S. President Donald Trump’s defence secretary warned NATO allies on Wednesday that they must honour military spending pledges to ensure the United States does not “moderate” support for the alliance. Jim Mattis, on his debut trip to Brussels as Pentagon chief, also accused some NATO members of ignoring threats, including from Russia. “America cannot care more for your […]
Photo A protective wall at the Shuafat Palestinian refugee camp in East Jerusalem. Some Israelis said a two-state solution to the Middle East conflict is impossible because the Palestinians in the West Bank and those in Gaza disagree on too many issues. Credit Daniel Berehulak for The New York Times GAZA CITY — Palestinians reacted with anger and bafflement on Wednesday after the Trump administration apparently backed […]
LONDON Britain has contacted the president of General Motors (GM.N) to express concerns after the American firm opened talks to sell its European operations, including the Vauxhall plants in England, to France’s PSA Group (PEUP.PA). Britain’s Department for Business said the government remained in close contact with GM and was monitoring the situation after the two companies said on Tuesday that they were in talks over a […]
LONDON Britain has summoned North Korea’s ambassador to express its condemnation of the country’s weekend ballistic missile launch, the Foreign Office said on Tuesday. North Korea said on Tuesday its missile launches were “self-defence measures”, rejecting U.N. Security Council criticism of the test. The United States has demanded international action against Pyongyang’s weapons programmes. “We urge North Korea to stop its provocative actions, which threaten international peace […]
By Pamela Barbaglia and Edward Taylor | LONDON/FRANKFURT LONDON/FRANKFURT PSA Group (PEUP.PA) is holding talks with General Motors (GM.N) about buying its European Opel division, the French carmaker said on Tuesday, a deal which would increase competition for market leader Volkswagen (VOWG_p.DE). The maker of Peugeot, Citroen and DS cars is “exploring a number of strategic initiatives with GM with the aim of increasing its profitability and […]
By Robin Emmott and Kylie MacLellan | BRUSSELS/LONDON BRUSSELS/LONDON NATO’s European allies and Canada increased defence spending by 3.8 percent last year, or $10 billion more than 2015, the alliance’s head said on Tuesday, but a report said Britain missed a key NATO goal. Russia’s annexation of Crimea has given the alliance new momentum after years of cuts, but the International Institute for Strategic Studies, a global […]
