PARIS/STUTTGART, June 26 (Reuters) – Daimler and
Nissan have finalized a joint venture deal to build
future Mercedes and Infiniti compact cars in Mexico, sources
with knowledge of the matter said on Thursday as the automakers
called a news conference to unveil the plans.
The companies are preparing to announce a “substantial
investment” to develop the vehicles on Daimler’s front
wheel-drive architecture and assemble them at Nissan’s
Aguascalientes site northeast of Guadalajara, the sources said.
FRANKFURT, May 15 (Reuters) – Cars could be driving
themselves down the world’s streets far sooner than expected,
thanks to a change in a global treaty backed by European
A little-noticed amendment to the United Nations Convention
on Road Traffic agreed last month would let drivers take their
hands off the wheel of self-driving cars. It was pushed by
Germany, Italy and France, whose high-end carmakers believe they
are ready to zoom past American tech pioneers and bring the
first “autonomous vehicles” to market.
HEIDELBERG, Germany, May 7 (Reuters) – HeidelbergCement
could seize opportunities to snap up assets from
rivals Lafarge and Holcim which may be
forced into disposals to get the go-ahead from regulators for
their planned merger.
Holcim and Lafarge, the world’s two leading cement makers in
terms of sales, agreed last month to the industry’s biggest-ever
merger, which should helped reduce overcapacity that has plagued
the sector in recent years.
FRANKFURT, March 30 (Reuters) – The retirement from
Daimler’s supervisory board of a combative trade
union veteran may smooth management-labour relations as the
German carmaker tries to cut costs and close a wide
profitability gap with its rivals.
Erich Klemm steps down as deputy chairman when he turns 60
next month after 16 years on the board. He has long resisted
cutbacks and last year forced managers to reassign cost-cutting
specialist Wolfgang Bernhard as a condition for extending the
contract of Daimler chief executive Dieter Zetsche.
MANNHEIM, Germany, March 20 (Reuters) – German engineering
and services group Bilfinger SE is eyeing potential
targets in the United States and Asia as it pursues its ambition
to grow further via acquisitions.
Bilfinger has intensified merger and acquisition activity as
it aims to wean itself off a dependence on construction, and has
shifted its focus toward more services-oriented businesses, as
well as designing and engineering plants and buildings.
KARLSRUHE, Germany (Reuters) – Germany’s Constitutional Court confirmed on Tuesday the legality of the euro zone’s bailout fund, upholding a preliminary ruling from the height of the debt crisis in 2012 that gave an initial green light to the European Stability Mechanism (ESM).
The court reiterated that the 700 billion euro ($975 billion) fund did not violate the rights of the Bundestag lower house of parliament to decide on budgetary matters as long as the lower house of parliament had sufficient oversight powers over the ESM.
STUTTGART, Germany (Reuters) – A German court has dismissed a lawsuit by hedge funds seeking 1.36 billion euros (£1.14 billion) in damages from investment company Porsche SE (PSHG_p.DE: Quote, Profile, Research), in a ruling that bodes ill for other claimants pushing damages claims against Porsche.
Two dozen hedge funds including Viking Global Investors, Glenhill Capital and Greenlight Capital had accused Porsche SE of throughout 2008 camouflaging its plan to acquire much-bigger Volkswagen AG (VOWG_p.DE: Quote, Profile, Research) and secretly piling up a holding in Europe’s largest automaker.
STUTTGART, Germany (Reuters) – A German court has dismissed a lawsuit by hedge funds seeking 1.36 billion euros ($1.9 billion) in damages from investment company Porsche SE, in a ruling that bodes ill for other claimants pushing damages claims against Porsche.
Two dozen hedge funds including Viking Global Investors, Glenhill Capital and Greenlight Capital had accused Porsche SE of throughout 2008 camouflaging its plan to acquire much-bigger Volkswagen AG and secretly piling up a holding in Europe’s largest automaker.
STUTTGART/DETROIT, Feb 13 (Reuters) – The United Auto
Workers union is following the same road map at the
Mercedes-Benz plant in Alabama that it used to reach its
historic vote to represent Volkswagen employees in Tennessee.
The UAW has been working with German union IG Metall and the
Daimler works council, the labor group at Mercedes parent
Daimler AG, to build support for the UAW among
Mercedes workers in Vance, Alabama, according to the union and
Alabama workers opposed to the UAW.
STUTTGART, Germany/BRUSSELS, Jan 20 (Reuters) – The European
Commission is expected to launch legal action against Germany
over Daimler’s refusal to remove a banned refrigerant
from new cars, EU sources said on Monday.
A final decision on legal action against Germany could be
taken as early as Wednesday, two sources, speaking on condition
of anonymity, said.