Geely, whose chairman recently took a $9 bn stake in Daimler AG, said its profits more than doubled in 2017, driven by strong domestic sales of popular SUVs.
Volkswagen group’s record earnings drove up Chief Executive Matthias Mueller’s salary package by about 40 percent last year, to 10.14 million euros in pay and benefits.
The pan-European STOXX 600 index was up 0.6% in early deals, while Italy's benchmark .FTMIB recouped all of its losses from the previous session, up 1%.
Investors sold shares in BMW and Daimler after Trump said the US may tax imports of European cars
SAP Chief Executive Bill McDermott was awarded total 2017 benefits of 21.8 million euros ($26.7 million), according to the software maker’s compensation report.
Germany will investigate whether to tighten the rules that govern when an investor needs to disclose a holding in a company after news that China Geely purchased Daimler.
German govt will investigate whether rules governing when an investor needs to disclose a holding in a company should be tightened, according to Economy Ministry report.
Li Shufu, chairman of Chinese carmaker Geely, is making waves in the global auto market after buying a $9 billion stake in Germany’s Daimler AG.
AB Volvo is dropping the head of Geely-owned Volvo Cars from its board because of competition concerns after the Chinese group took an almost 10% stake in rival Daimler.
Baic Motor, Daimler AG are planning to co-invest more than 11.9 bn yuan to build a new local production base for their joint venture, Beijing Benz Automative, Baic said.
Acquires Cynosure Inc and Cynosure Interface Solutions for $31mn and Rs13cr respectively
To add platform capabilities in the insurance segment which contributes 15% of total business
The Acquisition is expected to close within the next 3 months
Sells Essar Steel loan to Deutsche Bank
Has sold its $385 mn Foreign currency loan extended to Essar Steel
Bank has taken a 38% haircut
Rs 1600 cr is expected earnings to the bank from the deal
Economic Times Reports
To Sell 50% stake in prime Mumbai office assets to Blackstone for $1.3bn
The co is also in discussions to sell its residential and commercial projects in Chennai
To convene shareholder’s meet on 23rd March in regard to the proposed divestment
Gets Order Worth Rs 230 Cr From NTPC
To perform the pressure part metallurgy upgradation for 3 660MW super critical steam generators
Will help NTPC commission the 3x 660MW plant started 12years
Declared L1 bidder for EPC Project in UP worth Rs 677cr from NHAI
The completion period for the project is 30 months