Gernot's Feed
Oct 11, 2012

IMF calls for action as euro zone crisis festers

TOKYO (Reuters) – The IMF prodded Europe and the United States to act faster to resolve their debt troubles, blaming plodding progress for creating economic uncertainty and slowing global growth.

Christine Lagarde, the head of the International Monetary Fund, said she expected “courageous and cooperative action” as she laid blame on Europe and the United States for fostering a sense of unease that has led companies to delay investment and hiring.

Oct 6, 2012

EADS says continuing BAE merger talks with governments

BERLIN (Reuters) – EADS (EAD.PA: Quote, Profile, Research, Stock Buzz) is continuing “constructive talks” with governments over its proposed $45 billion merger deal with BAE Systems (BAES.L: Quote, Profile, Research, Stock Buzz) and remains convinced that it is an excellent deal for Europe, a spokesman said on Saturday.

Tensions over the proposed supermerger spilled into the open on Friday, casting doubt on a rapidly approaching deadline as France, Britain and Germany jockeyed over the role of the state in the world’s largest aerospace and arms group.

Oct 6, 2012

EADS says continuing BAE merger talks with govts

BERLIN, Oct 6 (Reuters) – EADS is continuing
“constructive talks” with governments over its proposed $45
billion merger deal with BAE Systems and remains
convinced that it is an excellent deal for Europe, a spokesman
said on Saturday.

Tensions over the proposed supermerger spilled into the open
on Friday, casting doubt on a rapidly approaching deadline as
France, Britain and Germany jockeyed over the role of the state
in the world’s largest aerospace and arms group.

Oct 5, 2012

Spotlight on Germany as EADS, BAE inch towards deal

BERLIN/PARIS, Oct 5 (Reuters) – EADS and BAE
Systems have edged closer towards winning political
backing for a $45 billion merger to create the world’s biggest
arms group amid positive signals from Britain and France, but
German misgivings over control is a big obstacle, sources close
to the talks said.

A number of potential stumbling blocks have emerged since
the proposed tie-up between the Airbus manufacturer and the
British defence group was announced last month. These include
conflicting political interests in Britain, France and Germany,
as well as some shareholders’ dissatisfaction with the terms.

Oct 4, 2012

Focus on Germany as EADS, BAE inch closer to deal

BERLIN/PARIS (Reuters) – EADS and BAE Systems have edged closer towards winning political backing for a $45 billion merger amid positive signals from Britain and France, but German misgivings over control remain a major hurdle, sources close to the talks said.

EADS Chief Executive Tom Enders bowed to pressure for guarantees on safeguarding jobs but the offer drew no immediate response as the German government considered if and how to proceed with the deal to create a European aerospace giant.

Oct 2, 2012

France, Germany clash over EADS-BAE headquarters: sources

BERLIN/LONDON (Reuters) – France and Germany have collided over the location of the headquarters for a new aerospace giant to be formed from a planned merger of Europe’s EADS and Britain’s BAE Systems (BAES.L: Quote, Profile, Research, Stock Buzz), sources familiar with the matter said on Tuesday.

France wants the group’s headquarters to be based in Toulouse, its southwestern aerospace capital where the Airbus planemaking subsidiary of EADS is based, but Germany is pressing for the group to be headquartered outside Munich, they said.

Oct 1, 2012

EADS/BAE merger demands erupt as talks intensify

BERLIN/PARIS (Reuters) – Airbus parent EADS (EAD.PA: Quote, Profile, Research, Stock Buzz) and arms group BAE Systems (BAES.L: Quote, Profile, Research, Stock Buzz) must restructure a $45 billion merger, a top shareholder said, as a government source threatened that Britain would block talks to create the world’s biggest defense company unless its demands were met.

Faced with a steep drop in global defense spending, EADS and BAE are re-examining a tie-up to create a European giant to compete with American heavyweights such as Boeing (BA.N: Quote, Profile, Research, Stock Buzz) which almost came about in the late 1990s.

Sep 29, 2012

Germany puts forward demands in EADS-BAE talks

BERLIN (Reuters) – Plans to create a new European defence giant entered a crucial political phase on Friday as Germany prepared to seek equal standing with France in a planned $45 billion merger of Airbus parent EADS (EAD.PA: Quote, Profile, Research) and Britain’s BAE Systems (BAES.L: Quote, Profile, Research).

Ending days of uncertainty while Berlin weighed its attitude to the merger, a German official said the government was ready to send its proposals to France, its main partner in EADS and Europe, in a starting signal for detailed discussions.

Sep 28, 2012

Germany to make proposals to France on EADS-BAE merger

BERLIN (Reuters) – Germany will present France with a list of proposals concerning the planned merger of European aerospace group EADS (EAD.PA: Quote, Profile, Research, Stock Buzz) and British defense contractor BAE Systems Plc (BAES.L: Quote, Profile, Research, Stock Buzz), a German government source said on Friday.

The proposals, agreed by Chancellor Angela Merkel’s office and the economy ministry, are aimed at preserving a balance of power between the two countries in a merged company, the source said.

Sep 19, 2012

France, Germany to seek common position on EADS-BAE

BERLIN/FRANKFURT (Reuters) – The leaders of France and Germany will seek a common position at a series of meetings this week on a $45 billion defense merger that could involve them having to giving up strategic influence in aerospace group EADS (EAD.PA: Quote, Profile, Research, Stock Buzz).

After talks on a tie-up between EADS and Britain’s BAE Systems (BAES.L: Quote, Profile, Research, Stock Buzz) were leaked last week, government officials from across Europe have this week been setting out their views on the deal.