China's Geely 2017 net profit soars amid global push

Mar 21 2018

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 CEO's pay package soars on record group profit

Mar 13 2018

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.

Paper stocks, auto shares drive European shares higher

Mar 06 2018

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%.

Donald Trump auto tax threat hits BMW, Daimler shares

Mar 05 2018

Investors sold shares in BMW and Daimler after Trump said the US may tax imports of European cars

SAP CEO likely top earner among German blue-chip executives

Feb 28 2018

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 weighs tighter rules after Geely takes Daimler stake

Feb 28 2018

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.

'Germany to consider tightening markets disclosure rules'

Feb 28 2018

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.

Geely's Li Shufu is betting billions on global push

Feb 26 2018

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 drops Geely-linked board member after Daimler move

Feb 26 2018

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 plan $1.9 bn new production base in China

Feb 25 2018

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.

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Stocks In News



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

Mint Reports


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

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