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Billionaire Lawrence Stroll seeks big stake in Aston Martin: report

Reuters
LONDON (Reuters) – Canadian billionaire Lawrence Stroll, owner of Formula One team Racing Point, is preparing a bid for a major stake in Aston Martin (AML.L), Autocar magazine reported, sending the luxury sports car maker’s battered shares up 17% on Thursday. Aston Martin, the drive of choice for fictional British...
Reuters - Business

Fiat Chrysler disagrees with Italy tax agency on underestimating U.S. business

Reuters
FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen at the U.S. headquarters in Auburn Hills, Michigan, U.S. May 25, 2018. REUTERS/Rebecca Cook MILAN (Reuters) – Fiat Chrysler Automobiles (FCHA.MI) said on Thursday it strongly disagreed with a tax authority claim that it had underestimated the value of its...
Reuters - Business

UAW union leaders recommend approval of Fiat Chrysler labor deal

Reuters
DETROIT (Reuters) – United Auto Workers leaders from Fiat Chrysler Automobiles NV’s (FCHA.MI) (FCAU.N) U.S. plants on Wednesday recommended approval of a tentative labor agreement that would allow the Italian-American automaker to avoid a strike as it works to merge with France’s Groupe PSA. (PEUP.PA) FILE PHOTO: A Fiat Chrysler...
Reuters - Business

McLaren looks to Asia and hybrid cars to stay on track

Reuters
DETROIT (Reuters) – British exotic sports car maker McLaren Automotive will bank on expanded sales in Asia and a new generation of hybrid cars as it steers toward a potential public offering, the company’s chief executive said on Tuesday. FILE PHOTO: The McLaren Grand Tourer is seen during a world...
Reuters - Business

Factbox: France and others plan tax clampdown on digital giants

Reuters
PARIS (Reuters) – U.S. President Donald Trump’s administration threatened to impose duties of up to 100% on French imports worth $2.4 billion after it concluded a tax on digital services imposed by Paris would be “unusually burdensome” for U.S. technology companies. Paris is not alone among capitals in Europe and...
Reuters - Business

Explainer: Macron’s quest for an international tax on digital services

Reuters
PARIS (Reuters) – The United States has threatened punitive duties of up to 100% on $2.4 billion in imports from France of champagne, handbags, cheese and other products, after concluding that France’s new digital services tax would harm U.S. technology companies. FILE PHOTO: French President Emmanuel Macron is pictured through...
Reuters - Business

U.S. proposes 100% tariffs on French Champagne, cheese, handbags over digital tax

Reuters
FILE PHOTO: An employee serves a glass of Champagne during the traditional wine harvest at the Champagne house Deutz in Ay, France, September 22, 2016. REUTERS/Benoit Tessier/File Photo WASHINGTON (Reuters) – The U.S. government on Monday said it may slap punitive duties of up to 100% on $2.4 billion in...
Reuters - Business

U.S. vows 100% tariffs on $2.4 billion of French products over digital services tax

Reuters
FILE PHOTO: A cyclist passes the U.S. and French flags flying over the Eisenhower Executive Office Building, which houses a majority of offices for White House staff, in Washington February 10, 2014. REUTERS/Kevin Lamarque WASHINGTON (Reuters) – The U.S. government on Monday said it could slap additional duties of up...
Reuters - Business

Italy set to grant funds to keep Alitalia afloat: source

Reuters
ROME (Reuters) – Italy is set to free up funds for loss-making airline Alitalia on Monday as Rome struggles to find investors to keep it afloat, a political source told Reuters. FILE PHOTO: An Alitalia Airbus A321-100 plane carrying Pope Francis for one-day visit to Geneva takes off at the...
Reuters - Business

Fiat Chrysler reaches tentative labor deal with United Auto Workers

Reuters
DETROIT (Reuters) – Fiat Chrysler Automobiles NV (FCHA.MI) and the United Auto Workers (UAW) union on Saturday announced a tentative agreement for a four-year labor contract, a boost for the automaker as it works to merge with France’s Groupe PSA (PEUP.PA). FILE PHOTO: Mike Manley, CEO of Fiat Chrysler Automobiles...
Reuters - Business

Judge to rule on Vivendi request to halt Mediaset European TV plan

Reuters
MILAN/PARIS (Reuters) – An Italian judge will decide on Vivendi’s (VIV.PA) request to block Mediaset’s (MS.MI) pan-European television project after the two groups failed to settle their long-running dispute, a legal source said on Friday. FILE PHOTO: The Vivendi logo is pictured in Paris, March 10, 2016. REUTERS/Charles Platiau/File Photo...
ESPN

Euro 2020 draw: Who are favourites, who are no-hopers?

ESPN
Ahead of Saturday’s Euro 2020 draw (live at noon ET on ESPNEWS and ESPN3), we look at the contenders, outsiders and no-hopers for the tournament. Source link: Click here for more
Reuters - Business

Italy’s Cavalli rescued by Dubai’s Damac chairman

Reuters
FILE PHOTO: A model walks at the Roberto Cavalli show during Milan Fashion Week Spring 2019 in Milan, Italy September 22, 2018. REUTERS/Stefano Rellandini MILAN/DUBAI (Reuters) – Italian fashion house Roberto Cavalli was bought on Thursday by Hussain Sajwani, the chairman of Dubai’s Damac Properties (DAMAC.DU), the companies said, ending...
Reuters - Business

Manchester City owner scores $4.8 billion price tag with stake sale

Reuters
LONDON/PARIS (Reuters) – Manchester City’s Abu Dhabi-controlled owner has agreed to sell a $500 million stake to U.S. private equity firm Silver Lake, making it the world’s most valuable soccer group with a $4.8 billion price tag. Tech-focused Silver Lake will buy just over 10% of City Football Group (CFG),...
Reuters - Business

Manchester City owner scores $4.8 billion price tag with stake sale

Reuters
PARIS/LONDON (Reuters) – Manchester City’s Abu Dhabi-controlled owner has agreed to sell a $500 million stake to U.S. private equity firm Silver Lake, making it the world’s most valuable soccer group with a $4.8 billion price tag. FILE PHOTO: Soccer Football – Premier League – Brighton & Hove Albion v...
Reuters - Business

Private equity firm Silver Lake makes $500 million investment in Manchester City owner

Reuters
PARIS (Reuters) – Private equity firm Silver Lake has agreed to make a $500 million equity investment into the owners of English soccer champions Manchester City, valuing the Premier League club’s owner at $4.8 billion. Silver Lake will buy just over 10% of Abu Dhabi-controlled City Football Group (CFG), which...
Reuters - Business

Car parts maker Faurecia sees record profits in 2022, shares rise

Reuters
FILE PHOTO: Patrick Koller, Chief Executive Officer of French car parts supplier Faurecia, poses before the company’s 2016 annual results presentation in Paris, France, February 9, 2017. REUTERS/Philippe Wojazer PARIS (Reuters) – French car parts maker Faurecia (EPED.PA) said it was targeting record sales, profits and cash generation in 2022...
Reuters - Business

Fiat Chrysler, PSA tell employees they will sign merger agreement in coming weeks

Reuters
FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen at the U.S. headquarters in Auburn Hills, Michigan, U.S. May 25, 2018. REUTERS/Rebecca Cook/File Photo MILAN/PARIS (Reuters) – Fiat Chrysler (FCHA.MI) and Peugeot-owner PSA (PEUP.PA) told their employees they would sign a binding merger agreement in coming weeks. In two...
Reuters - Business

Car parts maker Faurecia sees record sales and profits in 2022

Reuters
FILE PHOTO: Patrick Koller, Chief Executive Officer of French car parts supplier Faurecia, poses before the company’s 2016 annual results presentation in Paris, France, February 9, 2017. REUTERS/Philippe Wojazer PARIS (Reuters) – French car parts maker Faurecia (EPED.PA) said it was targeting record sales, profits and cash generation in 2022...
Reuters - Business

Fiat Chrysler has started 90% of planned investments in Italy: executive

Reuters
FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen at the U.S. headquarters in Auburn Hills, Michigan, U.S. May 25, 2018. REUTERS/Rebecca Cook/File Photo MILAN (Reuters) – Fiat Chrysler (FCHA.MI) has already started 90% of the investments earmarked for Italy, the auto maker’s Chief Operating Officer for the EMEA...

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