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By Joel Schectman and Mark Hosenball | WASHINGTON WASHINGTON U.S. Attorney General Jeff Sessions abruptly asked the remaining 46 chief federal prosecutors left over from the Obama administration to resign on Friday, including Manhattan U.S. Attorney Preet Bharara, who had been asked to stay on in November by then President-elect Donald Trump. Although U.S. attorneys are political appointees, and the request from Trump’s Justice Department is part […]

By Ginger Gibson and David Shepardson | WASHINGTON WASHINGTON When the bosses of some of the world’s largest pharmaceutical companies headed to Washington in January to meet U.S. President Donald Trump, it had all the makings of a potentially hostile meeting. Just weeks before, Trump had sent drug stock prices plummeting after accusing the companies of “getting away with murder” by charging too much for medicines. But […]

By Nichola Saminather | SINGAPORE SINGAPORE Asian shares rose on Tuesday, diverging from New York markets that slipped on concern about President Donald Trump’s ability to focus on economic policies. Oil prices were slightly lower amid fears growing U.S. production will offset OPEC cuts. Futures are pointing to a positive open for Britain’s FTSE 100 .FTSE and France’s CAC 40 .FCHI. MSCI’s broadest index of Asia-Pacific shares […]

PARIS PSA Group (PEUP.PA) has agreed to buy European rival Opel from General Motors (GM.N) in a deal valuing the business at 2.2 billion euros ($2.3 billion), the companies said on Monday, creating a new regional car giant to challenge market leader Volkswagen (VOWG_p.DE). The maker of Peugeot and Citroen cars pledged to achieve 1.7 billion euros in cost savings from the acquisition by 2026 and lift […]

PARIS/LONDON France’s PSA Group (PEUP.PA) is set to announce a deal to buy Opel from General Motors (GM.N) on Monday after striking an agreement with the U.S. carmaker and winning the blessing of its board for the acquisition. The maker of Peugeot, Citroen and DS cars said on Saturday it would hold an early Monday press conference with GM, at which the transaction is expected to be […]

PARIS General Motors and France’s PSA Group will hold a press conference on Monday morning, they said on Saturday, with the subject expected to be the acquisition of the U.S. carmaker’s loss-making Opel unit. On Friday, sources said PSA Group, which makes Peugeot and Citroen cars, had struck a deal with GM to buy Opel division. The press conference will be on Monday at 0815 GMT, PSA […]

General Motor’s (GM’s) European car brand Opel will soon come under the PSA Group. The French automaker is quite close to completing a deal with Detroit-based car maker GM on Monday, March 6. GM it seems is finally dumping its European car business which was long standing and losing out money making its car business unprofitable. The acquisition was made in order to give a boost to GM’s […]

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Cars are on their way to becoming ‘mobile phones on wheels’ The car of the future will let you pay for petrol or parking directly from your vehicle and receive traffic alerts and restaurant recommendations from your onboard digital assistant. Connected cars—or “mobile phones on wheels”—will be able to do those things and more, including communicate with each other on the road and with the infrastructure around […]

BERLIN Continental (CONG.DE) expects a possible tie-up between PSA Peugeot Citroen (PEUP.PA) and General Motors’ (GM.N) Opel division would boost its business, its chief executive said. “Opportunities emerge because platforms will be standardized and higher and more interesting volumes will arise” for suppliers, CEO Elmar Degenhart said during a conference call after the automotive supplier published results on Thursday. Separately, Continental said it planned to raise prices […]

Just under 70 minutes, 4,825 words, and the message was clear – the speech was about “will” and “Americans” Additionally “Obamacare” was mentioned 5 times, “Historic” was mentioned 3 times, and “massive” twice. .. I am here tonight to deliver a message of unity and strength, and it is a message deeply delivered from my heart. #JointAddress — President Trump (@POTUS) March 1, 2017 President Trump got […]

By David Shepardson | WASHINGTON WASHINGTON German automakers dominated Consumer Reports’ annual ranking of automotive brands released on Tuesday, with Volkswagen AG’s (VOWG_p.DE) Audi (NSUG.DE) leading the pack, while U.S. brands continued to lag despite gains for many. Jake Fisher, director of auto testing at the magazine, said German automakers rose largely due to improvements in reliability. “Building one or two great vehicles is achievable, but making […]

In this May 26, 2015 file photo, an iPhone is connected to a 2016 Chevrolet Malibu equipped with Apple CarPlay apps, displayed on the car’s MyLink screen, top, during a demonstration in Detroit. The rapidly evolving in-car infotainment and navigation systems can be bewildering for all but the most tech-savvy car buyers. The average vehicle on U.S. roads is 11 years old; that means many people last […]

PARIS PSA Group’s (PEUP.PA) proposed acquisition of Opel would swiftly create savings and value from the General Motors (GM.N) European division’s turnaround and complementary brands, the French carmaker’s Chief Executive Carlos Tavares said on Thursday. Adding GM’s German Opel British Vauxhall brand would bring new customers reluctant to buy French cars, Tavares told analysts and reporters, while generating savings from shared technical underpinnings. “There is significant complementarity […]

Abu Dhabi-UAE: 22 February, 2017  At a press conference on day four of the 13th edition of the International Defence Exhibition and Conference (IDEX 2017), His Excellency Staff Brigadier-General Rashid Mohammed Al Shamsi, Official Spokesperson of IDEX 2017, announced 20 new deals worth AED 3,422,120,575. 13 of the deals are with national companies and the remaining 7 with international companies. The press conference, held at Abu Dhabi […]

By Edward Taylor and Laurence Frost | FRANKFURT/PARIS FRANKFURT/PARIS PSA Group (PEUP.PA) has pledged to respect existing Opel and Vauxhall job guarantees if it buys the European arm of General Motors (GM.N), though some analysts say thousands of jobs are eventually likely to go for the deal to work. As part of a broader charm offensive, PSA Chief Executive Carlos Tavares met with representatives of powerful German […]

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 […]

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 […]

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 […]

The chief executive of General Motors has flown to Germany as the US carmaker seeks to assuage concerns from local managers and unions about job losses amid talks to sell the carmaker’s ailing European business to French rival PSA Peugeot Citroën. Mary Barra and key lieutenant Dan Ammann arrived at Opel’s headquarters, GM’s subsidiary, on Tuesday morning, while PSA chief executive Carlos Tavares is pushing to meet […]

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 […]

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 […]

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