Geely may complete Volvo purchase next week-source
2010-07-29 07:23:24
Quote: Wed Jul 28, 2010 4:31pm EDT
* Deal vaults Geely to prominence among China automakers * Ford has said sale expected to be completed in Q3 * Volvo last member from Ford's premier auto group DETROIT, July 28 (Reuters) - China's Geely (0175.HK) could
complete its landmark purchase of the Swedish car brand Volvo
from Ford Motor Co (F.N) as soon as next week, a source
familiar with knowledge of the matter said. The purchase of Volvo by Geely, the world's 27th largest
automaker, represents the biggest...
Read articleChina govt approves Geely acquisition of Volvo
2010-07-29 07:23:22
Keywords: China govt approves Geely acquisition of Volvo, f, m-a
Quote: BEIJING (AP) -- Geely Holding Group has received final Chinese government approval to acquire Volvo Cars from Ford Motor Co., the Commerce Ministry said Thursday.Commerce officials approved the $1.8 billion deal Monday, said a ministry spokesman contacted by phone who refused to give his name. He said other agencies already have signed off on it."This was the final stage of the government approval," he said. "There are no conditions attached."Geely agreed in March to buy Volvo in China's biggest...
Read articleUPDATE - China commerce min OKs Geely's Volvo buy -Bloomberg
2010-07-29 07:23:22
Keywords: Automobiles and components,Mergers and Acquisitions (including Changes of Ownership),United States of America,Sweden,Nordic Countries,Europe,Asia,Hong Kong,Emerging countries,China,Western Europe,
Quote: Thu Jul 29, 2010 6:19am EDT
* Geely's $1.8 bln plan to buy Volvo approved - Bloomberg * MofCom officials contacted by Reuters could not confirm OK * Geely spokesman could not be reached for comment HONG KONG, July 29 (Reuters) - The parent of China's Geely
Automobile (0175.HK) was approved by China's regulator to buy
Ford's (F.N) Volvo unit, Bloomberg reported on Thursday, clearing
one of the last remaining hurdles to the high-profile deal. Shares of Geely Automobile jumped 11 percent on Thursd...
Read articleNatural gas vehicles and proposed US subsidies
2010-07-28 11:47:53
Quote: * Ford Motor Co (F.N) offers a natural gas version of its
Transit Connect van for use by taxi companies. General Motors
also began offering a compressed natural gas version of its
Chevrolet Silverado pickup truck earlier this decade. A range
of firms offer after-market conversions for other vehicles. * A Massachusetts Institute of Technology study issued this
month partly funded by the natural gas lobby estimated that the
fuel could provide 40 percent of U.S. energy needs in the
coming decades, ...
Read articleWhy Ford Could Double in Three Years
2010-07-28 11:47:52
Quote: In that light, Ford Motor's (NYSE: F) just-announced second quarter pre-tax income of $2.1 billion is quite remarkable (see call transcript). It's hard to find another company that has made so many smart moves to escape the clutches of creditors and win back the hearts of consumers. We took a look at Ford back in early June. Shares have risen +15% since then, but the biggest gains lie ahead. That's because Ford is on the cusp of becoming an earnings powerhouse. And if you have a three-year tim...
Read articleFord Motor Credit to sell high-yield bonds - IFR
2010-07-28 11:47:51
Keywords: United States of America,U.S. corporate debt,Debt,
Quote: NEW YORK |Wed Jul 28, 2010 9:33am EDT
NEW YORK July 28 (Reuters) - Ford Motor Credit Corp, the
finance arm of Ford Motor Co (F.N), plans to sell a
benchmark-sized bond in the high-yield market later on
Wednesday, according to IFR. Citigroup, Bank of America Merrill Lynch, BNP Paribas and
Goldman Sachs are joint book-running managers for the sale,
which will consist of seven-year senior unsecured notes, said
IFR, a Thomson Reuters service. Benchmark-sized sales are
typically at least $500 million...
Read articleUS home sales surge in June, inventory at 42-yr low
2010-07-27 06:11:03
Keywords: United States of America,Economic Indicators,Macro-Economics,Washington / US Government News,Real Estate Markets,Major Breaking News,Mortgage-backed securities,Debt,General News,Politics International Affairs and Law,Domestic Politics,General news stories
Quote: Ford Motor Co (F.N) Chief Executive Alan Mulally said he
agreed, telling NBC's "Today" show: "I think that we're going
to have good, steady growth here." ACTIVITY SLOWING DOWN The government is expected to report on Friday that growth
in gross domestic product slowed to a 2.5 percent annual rate
in the April-June period from a 2.7 percent pace in the first
three months of the year. Moderation in growth was signaled by a measure of national
economic activity released on Monday. The Chicago Federa...
Read articleBrazil's Localiza to spend $1.4 bln on new cars
2010-07-27 06:11:02
Keywords: South and Central America,Emerging countries,Automobiles and components,
Quote: Localiza, which says it is the largest car rental company
in Latin America, will acquire 85,000 new cars from Fiat
(FIA.MI), GM GM.UL, Volkswagen (VOWG_p.DE) and Ford Motor
(F.N). It said the acquisition was equivalent to 2.5 percent of
Brazil's annual production of cars and light trucks. Brazil's fast-growing economy and rising middle class have
generated unprecedented demand for autos. Nearly half the cars will be delivered by the end of this
year, and the rest will be in place by the third qu...
Read articleBusiness Highlights
2010-07-27 06:11:02
Keywords: Business Highlights, bp,f,fdx,ibm,lo,utx
Quote: It's not yet clear what Hayward's role will be with TNK-BP.United Technologies to cut another 1,500 job cutsHARTFORD, Conn. (AP) -- United Technologies will cut another 1,500 this year and next on top of the 900 positions it has already eliminated in 2010, the company said Monday.The industrial conglomerate last week posted almost a 14 percent increase in second-quarter net income, citing a "relentless focus on cost." It cut deeply into its payroll during the worst of the recession, cutting 11,6...
Read articleToyota to post Q1 operating profit Y100 bln-Nikkei
2010-07-26 01:55:15
Quote: Toyota, which competes with global peers such as General
Motors [GM.UL] or Ford Motor (F.N), also saw strong sales of
its Prius hybrid model in Japan, the Nikkei report said. In the three months to June, the Toyota Group -- including
Hino Motors Ltd (7205.T) and Daihatsu Motor Co (7262.T) -- sold
between 1.8 million and 1.9 million vehicles, about 30 percent
more than a year earlier, the report said. Toyota's sales are also picking up in North America after
being hurt by the mass recalls, the pa...
Read articleFord: Reasons to Go Long
2010-07-26 01:55:14
Quote: CEO Alan Mulally noted that Ford is “ahead of where we thought we would be despite the still-challenging business conditions.” He later added that “we remain on track to deliver solid profits andpositive automotive operating-related cash flow for 2010, and we expecteven better financial results in 2011.” Comment: Ford (NYSE: F), the only American automakerthat was able to avoid bankruptcy, continued its strong 2010 campaignon Friday, as its report boosted shares by more t...
Read articleMore roadside chargers needed for electric cars
2010-07-26 01:55:11
Keywords: More roadside chargers needed for electric cars, f,hmc,mcd,mtlqq.pk,sbux,tm,tsla
Quote: Nissan has its Leaf, and Ford aims to enter the market with an all-electric Focus in 2012. General Motors Co. will soon sell its part-electric Volt.The Volt is scheduled for limited release this fall and allows the driver to drive on battery alone for 40 miles before switching on a small gas engine that can take the vehicle up to 300 miles.As one of the creators of General Motors' failed EV1, Andrew Farah knows the limits of the electric charging network."Show me an EV1 owner and I will show you...
Read articleMajor SUV Fuel Economy Gains, Technology, Style Highlight Reinvention of Ford Explorer
2010-07-26 01:55:09
Keywords: Major SUV Fuel Economy Gains, Technology, Style Highlight Reinvention of Ford Explorer, f
Quote: DEARBORN, Mich., July 26 /PRNewswire-FirstCall/ --Ford Explorer – the vehicle that defined a segment – has been completely reinvented, raising customers' expectations of sport utility vehicle (SUV) fuel efficiency, safety, technology, capability and quality."The all-new Explorer will deliver today's SUV buyers the attributes they really want and value, and a few they might not even have dreamed of," said Mark Fields, Ford president of The Americas. "We're proud to introduce the new...
Read articleFord introduces new -- and untraditional -- Explorer
2010-07-26 01:55:08
Keywords: Ford introduces new -- and untraditional -- Explorer, f
Quote: (AP) -- The Ford Explorer, the hulking family-hauler that helped launch the SUV boom in the early 1990s, is back. And it hopes to define a new generation of more streamlined, fuel-efficient sport utility vehicles.Ford begins a marketing campaign Monday for the 2011 Ford Explorer, which will be in dealerships this winter. It's an important vehicle for the automaker. Ford says the Explorer is its best-known product after the Mustang."Explorer is really still the backbone of the brand," Ford's mark...
Read articleFord bullish on Japan with new Asian investments
2010-07-23 05:47:02
Keywords: Ford bullish on Japan with new Asian investments, f, international
Quote: TOKYO (AP) -- Ford hopes its investments in Asia will dramatically boost sales in Japan -- a market so dominated by local makers like Toyota and Honda that the U.S. automaker has long struggled to maintain a toehold.Tim Tucker, chief executive of Ford Motor Co.'s Japan operations, said Friday he was bullish about the potential for Japan, although he declined to give a sales target or specific product plans.Last year, Ford sold just 2,200 vehicles in Japan -- a tiny fraction of a market where new...
Read articleSPECIAL REPORT-Saving Volvo:Geely buys brand and management test
2010-07-23 05:47:02
Keywords: China,Asia,Emerging countries,Sweden,Nordic Countries,Europe,Investment for individuals (retail market),Fund management and asset allocation,Management issues/policy,Mergers and Acquisitions (including Changes of Ownership),Automobiles and components,Labo
Quote: Thu Jul 22, 2010 10:27pm EDT
(Repeats story first issued on July 22) * Geely was unlikely suitor for Volvo * Global financial crisis created opportunity * China has mixed record in acquiring foreign brands * Untangling Ford-Volvo web a big challenge * China approval for deal expected soon To read this story in PDF format, click here:r.reuters.com/feb98m By Kevin Krolicki, Niklas Pollard and Fang Yan DETROIT/GOTHENBERG/NINGBO, July 22 (Reuters) - It was a
miserable winter day in January 2007, th...
Read articleFord e-News -- July 21, 2010
2010-07-22 04:06:12
Keywords: Ford e-News -- July 21, 2010, f
Quote: Press ReleaseSource: Ford Motor CompanyOn Wednesday July 21, 2010, 3:34 pm EDTThe all-new Ford Explorer is shattering the myth that SUVs get poor fuel economy. The 2011 model equipped with the optional 2.0-liter EcoBoostâ„¢ I-4 will be the new midsize SUV segment leader, achieving at least a 30 percent increase in fuel efficiency compared with the current Explorer V6. Electric power-assisted steering, battery management, fast engine warm-up and the first North American Ford application of a ...
Read article[$$] Ford Scuttles Debt Deal as Overhaul Chills Market
2010-07-22 04:06:05
Quote: BY ANUSHA SHRIVASTAVAFord Motor Co.'s financing arm pulled plans to issue new debt, the first casualty of a bond market thrown into turmoil by the financial overhaul signed into law Wednesday. Market participants said the auto maker pulled a recent deal, backed by packages of auto loans, because it was unable to use credit ratings in its offering documents, a legal requirement for such sales. The company declined to comment. The nation's dominant ratings firms have in recent days refused to all...
Read articleFord will offer hybrid at same price as gas model
2010-07-22 04:06:04
Keywords: Ford will offer hybrid at same price as gas model, f
Quote: (AP) -- For the first time, an American automaker plans to sell a hybrid car for the same, lower price as its gas-powered counterpart, removing at least one obstacle for drivers who want a greener ride.At a little more than $35,000, the 2011 Lincoln MKZ sedan won't be cheap, but the decision by Ford to match the prices of the two styles could lead competitors to follow suit with future models.The hybrid MKZ, debuting this fall and running on both gas and electric power, will be a bargain after f...
Read articleTodd Harrison: Is the Fed a toothless tiger?
2010-07-21 09:16:05
Keywords: News & Commentary, GE, General Electric Co, F, Ford Motor Co, FNMA, Fannie Mae, JPM, JPMorgan Chase & Co
Quote: With the emergence of bearded financials such as General Motors, General Electric/quotes/comstock/13*!ge/quotes/nls/ge(GE14.94,+0.32,+2.19%), and Ford/quotes/comstock/13*!f/quotes/nls/f(F11.75,+0.27,+2.35%)-- all of which have considerable finance arms -- it's quite possible that a ripple in Fannie Mae/quotes/comstock/11k!fnma(FNMA0.29,0.00,0.00%)or JP Morgan/quotes/comstock/13*!jpm/quotes/nls/jpm(JPM39.63,+0.59,+1.51%)will have an exponential impact across a wide array of sectors and industries...
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