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Cummins makes offer for VW’s large engines unit: sources

3 days ago DieselGasoil Comments Off on Cummins makes offer for VW’s large engines unit: sources
FRANKFURT (Reuters) – United States-based diesel (gasoil) engines maker Cummins (CMI.N) has made an indicative offer for Volkswagen’s (VOWG_p.DE) MAN Energy Solutions unit, people close to the matter said, as the carmaker seeks to slim down its portfolio of disparate assets. FILE PHOTO: The logo of Volkswagen is seen in front of its plant, in Read More

BMW picks insider Zipse as CEO to catch up with rivals

4 days ago DieselGasoil Comments Off on BMW picks insider Zipse as CEO to catch up with rivals
FRANKFURT (Reuters) – BMW (BMWG.DE) has named Oliver Zipse as its new CEO, hoping the “decisive” company lifer will help the automaker regain its edge in electric cars and win back the premium market lead lost to Mercedes-Benz under his consensus-seeking predecessor. FILE PHOTO: Oliver Zipse, board member of German luxury carmaker BMW attends the Read More

BMW picks ‘decisive’ Zipse as CEO to catch up with rivals

4 days ago DieselGasoil Comments Off on BMW picks ‘decisive’ Zipse as CEO to catch up with rivals
FRANKFURT (Reuters) – BMW (BMWG.DE) named Oliver Zipse as its new chief executive late on Thursday, praising his “decisive” qualities after the carmaker lost its edge in electric cars and ceded the premium sales crown to Mercedes under his consensus-seeking predecessor. FILE PHOTO: Oliver Zipse, board member of German luxury carmaker BMW attends the company’s Read More

BMW picks ‘decisive’ new CEO to catch up with rivals

4 days ago DieselGasoil Comments Off on BMW picks ‘decisive’ new CEO to catch up with rivals
FRANKFURT (Reuters) – BMW (BMWG.DE) named Oliver Zipse as its new chief executive late on Thursday, praising his “decisive” qualities after the luxury carmaker lost its edge in electric cars and ceded the premium sales crown to Mercedes under his consensus-seeking predecessor. FILE PHOTO: Oliver Zipse, board member of German luxury carmaker BMW attends the Read More

Volvo Cars to cut costs as trade war dents profits

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STOCKHOLM (Reuters) – Volvo plans to cut fixed costs by 2 billion Swedish crowns ($214 million), it said on Thursday, becoming the latest carmaker to warn that pricing pressure and tariffs arising from the China-U.S. trade war were denting profitability. FILE PHOTO: A long exposure picture shows cars of Swedish automobile manufacturer Volvo displayed in Read More

Nissan, Volvo and FCA lead European sales decline

5 days ago DieselGasoil Comments Off on Nissan, Volvo and FCA lead European sales decline
PARIS (Reuters) – European car sales dropped 7.9% in June, led by bigger declines for Nissan (7201.T), Volvo and Fiat Chrysler (FCA) (FCHA.MI), according to industry data published on Wednesday. Registrations fell to 1.49 million cars last month from 1.62 million a year earlier across the European Union and EFTA countries, the Brussels-based Association of Read More

Wall St. notches all-time highs on lingering rate-cut optimism

1 week ago DieselGasoil Comments Off on Wall St. notches all-time highs on lingering rate-cut optimism
NEW YORK (Reuters) – All three major indexes posted record closing highs on Friday as firm expectations for an interest-rate cut from the Federal Reserve continued to propel shares while investors awaited next week’s kickoff of the corporate earnings season. The S&P 500 closed above the 3,000 level for the first time, with the industrial Read More

Wall Street hits new highs on rate-cut optimism

1 week ago DieselGasoil Comments Off on Wall Street hits new highs on rate-cut optimism
NEW YORK (Reuters) – U.S. stocks hit record highs on Friday as high expectations for an interest-rate cut from the Federal Reserve continued to propel shares while investors awaited next week’s kickoff of the corporate earnings season. Numbers showing the rise of the Dow Jones Industrial Average above 27,000 are displayed on a screen above Read More

Volkswagen zooms ahead in extension of alliance with Ford to electric, automated cars

1 week ago DieselGasoil Comments Off on Volkswagen zooms ahead in extension of alliance with Ford to electric, automated cars
, NEW YORK (Reuters) – Ford Motor Co (F.N) and Volkswagen AG (VOWG_p.DE) said they will spend billions of dollars to jointly develop electric and self-driving vehicles, deepening a global alliance to slash development and manufacturing costs while positioning VW as the initial winner. How soon those investments will pay for themselves is an open Read More