John Gardiner News
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Ford Motor Co., seeking to stop losing money in Europe, intends to close its van plant in Southampton, England, its last vehicle-making factory in the U.K., said two people familiar with the automaker’s plans.
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Ford Motor Co. has called an emergency meeting this week with unions at its underutilized Belgian factory in Genk, a labor leader said.
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Efforts by PSA Peugeot Citroen and Fiat SpA to end losses in Europe could cost more than 500,000 people their jobs as automakers and parts suppliers grapple with the effects of the European sovereign debt crisis.
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Ford Motor Co. plans to complete its sale of Volvo Cars to China’s Zhejiang Geely Holding Co. next week, finishing the U.S. automaker’s exit from European luxury brands, according to two people familiar with the plans.
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Ford Motor Co. and Fikry Group, the U.S. automaker’s agent in Egypt, are considering a plan to assemble cars in the North African country, Al Mal newspaper reported today, citing a Ford executive.
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Volkswagen AG is negotiating with U.S. chief Stefan Jacoby over terms of his departure before he takes over as chief executive officer at Volvo Cars, according to people familiar with the matter.
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Former American International Group Inc. Chief Executive Officer Maurice “Hank” Greenberg lost an appeal seeking dismissal of a lawsuit alleging a fraudulent transaction with Warren Buffett’s General Reinsurance Corp.
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Ford Motor Co . and OAO Sollers aim to export cars and engines to Europe from their Russian venture in addition to domestic distribution, said Sollers Chief Executive Officer Vadim Shvetsov
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