Volvo AB reported a surprise drop in operating profit, sending the stock down the most in a year, as a strengthening krona burdened earnings at the world’s second- biggest truckmaker.
PSA Peugeot Citroen is considering stake sales to Dongfeng Motor Corp. and the French government to shore up funding as car sales in Europe plunge to a 20-year low, people familiar with the matter said.
Volkswagen AG’s nine-month sales topped 7 million vehicles for the first time as demand in China more than offset a decline in Europe.
Schaeffler AG replaced Juergen Geissinger as chief executive officer to shift strategy after plans to combine with car-component maker Continental AG failed.
Here is some of what I've been reading this morning.
Nokian Renkaat Oyj, the Nordic region’s largest tiremaker, fell the most in almost a year after cutting sales and profit forecasts because of slowing Russian demand and the ruble’s decline.
Volvo AB, the world’s second- largest truckmaker, intends to lower annual spending by 4 billion kronor ($620 million) by the end of the 2015 as part of a broader three-year plan to lift profitability.
John Barry , the Oscar-winning movie- music composer best known for composing 11 James Bond soundtracks, has died at the age of 77.
PSA Peugeot Citroen , Europe’s second-largest carmaker, said its auto unit may lose money in the second half as demand in the main European market slumps.
Fiat SpA, the Italian automaker that controls Chrysler Group LLC, said first-quarter profit fell 23 percent on costs for new Jeep model rollouts.
"The market will probably worry about the rising capex burden."
- David Arnold on Nov 05, 2013