SARNICO, Italy/SINGAPORE (Reuters) – When Chinese industrial conglomerate Weichai Group snapped up cash-strapped Italian luxury yacht builder Ferretti in 2012, the deal looked like a match made in heaven.
Debt-laden Ferretti, known for the elegant Riva speedboats favoured by film star Sophia Loren, was the world’s top maker of large motor yachts and cash-rich Weichai saw an opportunity to offer luxury leisure to the growing ranks of Chinese billionaires.
SARNICO, Italy/SINGAPORE, June 29 (Reuters) – When Chinese
industrial conglomerate Weichai Group snapped up cash-strapped
Italian luxury yacht builder Ferretti in 2012, the deal looked
like a match made in heaven.
Debt-laden Ferretti, known for the elegant Riva speedboats
favoured by film star Sophia Loren, was the world’s top maker of
large motor yachts and cash-rich Weichai saw an opportunity to
offer luxury leisure to the growing ranks of Chinese
ARESE, Italy, June 24 (Reuters) – Fiat Chrysler Automobiles
is a long way from making any offer to the
shareholders of U.S. rival General Motors over a possible
tie-up, FCA Chief Executive Sergio Marchionne said on Wednesday.
Marchionne has already approached his counterpart at GM,
Mary Barra, with a merger proposal but was rebuffed. However,
sources have told Reuters that Marchionne was lobbying GM
investors to drag the GM board to the negotiating table.
MILAN, June 23 (Reuters) – Fiat Chrysler Automobiles (FCA)
will launch the first of a new range of Alfa Romeo cars on
Wednesday, the lynchpin of its turnaround plan and potentially
an opportunity to attract a cash-rich merger partner.
Chief Executive Sergio Marchionne is betting on the
105-year-old Alfa brand to help FCA take on German
rivals BMW, Audi and Mercedes-Benz
in the fast-growing and high-margin market for
MILAN (Reuters) – First lady Michelle Obama chopped parsley and pine nuts for a salad with 20 school children in Milan on Wednesday to spread her message: Make more home-cooked meals, and you will be healthier.
Flanked by American celebrity chefs John Besh and Mario Batali, Obama showed students from the American School of Milan how to cook, as part of her “Let’s Move” initiative aimed at boosting nutrition and combating obesity among children.
TURIN, May 29 (Reuters) – An email sent by Fiat Chrysler
Automobiles chief Sergio Marchionne to General Motors
(GM) about a possible merger was not the only such
conversation FCA has had with other industry players, the
Italian-American carmaker’s chairman said on Friday.
The New York Times reported on Saturday that Marchionne had
emailed GM Chief Executive Mary Barra in March suggesting the
two companies combine, but was rebuffed.
MILAN/ROME, May 27 (Reuters) – Lamborghini will produce its
much-anticipated sport utility vehicle (SUV) at the supercar
maker’s Sant’Agata Bolognese plant in Italy, with the new model
to enter the market in 2018, the company said on Wednesday.
Lamborghini, part of the Volkswagen group, hopes
the SUV will allow it to repeat stable-mate Porsche’s success in
the fast-growing market for luxury four-by-fours and boost
MILAN/NEW YORK, May 22 (Reuters) – Bermuda-based reinsurer
PartnerRe will ask its shareholders to vote on a merger
with Axis Capital Holdings agreed in January, after
rival bidder Exor refused to further sweeten its $6.8
Exor, the investment vehicle of Italy’s Agnelli family, said
on Thursday it would not raise its latest offer but was willing
to negotiate with the reinsurer if its board declared its bid
superior to that of Axis.
LONDON/MILAN (Reuters) – Ferrari’s timely return to the front row of the Formula One grid bodes well for the luxury sportscar maker as it prepares to list shares and split from parent Fiat Chrysler Automobiles. (FCHA.MI: Quote, Profile, Research, Stock Buzz) (FCAU.N: Quote, Profile, Research, Stock Buzz)
After years of under achievement, the world’s most successful motor racing team has been on the podium in each of the first five grand prix this season, with driver Sebastian Vettel securing a long overdue victory in Malaysia in March.
JONA, Switzerland, May 19 (Reuters) – Supercar makers are
like teenage boys at a high school dance, according to business
consultant Belinda Parmar. They don’t have a clue how to speak
They may need to learn, and quickly.
With the number of financially independent women on the rise
across much of the world, high-performance carmakers risk losing
a potentially big market to more adaptable rivals.