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Apr 21, 2010

Carmakers upbeat after Q1; Fiat readies plan

PARIS/TURIN (Reuters) – French carmaker PSA Peugeot Citroen <PEUP.PA> posted a jump in first-quarter sales on Wednesday, while Italy’s Fiat <FIA.MI> swung to a trading profit, aided by the dying tailwind of government incentives.

Turin-based Fiat also named a new chairman as it prepared to unveil its new industrial plan later in the day.

Apr 15, 2010

Etam offers to buy back up to 26.5 pct of shares

PARIS, April 15 (Reuters) – French clothing and lingerie
maker Etam <TAM.PA> is offering to buy back up to 26.5 percent
of its share capital in a deal worth up to 101 million euros.

The company, which reported 1 billion euros in sales for
2009, is offering to pay 35 euros per share for up to 2.9
million shares, it said in a statement Thursday evening.

Apr 7, 2010

Ghosn is back as dealmaker with Daimler tie-up

PARIS (Reuters) – Faced with one of the worst crises in the car industry, and forced to jettison an ambitious growth program for Renault while suffering a loss at Nissan, Carlos Ghosn did what he likes best and pulled off a deal.

Some industry observers had expected Ghosn to step aside and leave his lieutenants to run the two companies he had welded together into a powerful alliance that was breathing down the necks of Toyota Motors Corp <7203.T>, Volkswagen <VOWG_p.DE> and Ford Motor Co <F.N> in the global market.

Mar 16, 2010

Renault, Daimler tie-up reports boost shares

PARIS/CHENNAI (Reuters) – Shares in Renault <RENA.PA> and Daimler <DAIGn.DE> rose on Tuesday, lifted by reports the two car makers are in talks about an equity tie-up as part of a possible longer-term partnership.

Asked about the reports, Renault’s chief executive Carlos Ghosn, who is also head of its Japanese alliance partner Nissan <7201.T>, said only that he was open to equity exchanges.

Mar 11, 2010

China bigger market than U.S. for crisis-hit Bordeaux

PARIS (Reuters) – China has become the biggest export market for Bordeaux wines outside the European Union as overall exports have collapsed due to the economic crisis and a strong euro put some wines beyond U.S. and British buyers.

The sector has high hopes of the 2009 harvest with young wines being presented to the international trade and specialized journalists over the coming weeks.

Jan 25, 2010

French regulator clears RUSAL Paris listing

PARIS, Jan 25 (Reuters) – A French regulator cleared the
secondary-listing of UC RUSAL <0486.HK> on Monday, paving the
way for the world’s biggest aluminium group’s flotation in
Europe and Asia.

The global financial crisis reduced RUSAL’s cash flow needed
to pay down debts accumulated with an acquisiton spree.

Jan 16, 2010

French president pressures Renault, gets no pledge

PARIS (Reuters) – President Nicolas Sarkozy grilled top managers of carmaker Renault on Saturday but failed to win pledges from them to center production of their new small car at a factory in France rather than in Turkey.

French Industry Minister Christian Estrosi has heaped pressure on Renault to make cars destined for the French market at home, even suggesting the state could raise its 15.01 percent stake in the group to get a bigger say.

Jan 13, 2010

Renault heir apparent Pelata pushed into limelight

PARIS, Jan 13 (Reuters) – Patrick Pelata, heir apparent at
Renault <RENA.PA>, is being forced centre stage over the French
carmaker’s plan to build a new model in Turkey, a move that has
angered politicians keen to protect jobs at home.

Renault’s chief operating officer, fresh from talks with
industry minister Christian Estrosi on Wednesday about where a
new Clio car may be made, is set to accompany his boss, Carlos
Ghosn, who has just been summoned by President Nicolas Sarkozy.

Jan 4, 2010

Total in $2 billion shale gas tie-up with Chesapeake

PARIS/LONDON (Reuters) – France’s Total signed a $2.25 billion tie-up with Chesapeake Energy, becoming the latest international oil company to take advantage of low gas prices to snap up shale gas assets.

Total said it would take a 25 percent stake in Chesapeake’s Barnett Shale gas fields in north Texas, paying $800 million in cash and providing $1.45 billion toward the fields’ development over up to six years.

Nov 25, 2009

Areva T&D execs oppose sale to French bidders

PARIS, Nov 25 (Reuters) – Top executives at Areva T&D argued
against a possible break up of their power transmission and
distribution company if the state-owned parent sells out to two
French bidders.

In an open letter published in financial newspaper Les Echos
on Wednesday, the 10 executives said if their business was sold
to a consortium of Alstom SA <ALSO.PA> and Schneider Electric SA
<SCHN.PA>, it would mainly benefit main rivals ABB AG <ABBN.VX>
and Siemens AG <SIEGn.DE> on a booming global market.

    • About Marcel

      "Marcel is a graduate of the University of Amsterdam and joined Reuters in 1986. He was based in the Netherlands, Britain, Switzerland and France while also reporting from China, Japan, U.S., Portugal, Austria, Germany, Belgium, Luxemburg, Spain and Turkey. An amateur chef in the kitchen and chief at work, he keeps fit with Swedish gym (Friskis & Svettis) and relaxes by reading."
      Joined Reuters:
      June 1986
      English, Dutch, French, German, Italian
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