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Voestalpine reorganizes automotive component business sites in Germany

UPDATE 1-Voestalpine reorganizes automotive component business sites in Germany Adds context in para 4-8, company's quote in para 6, info on Dettingen location in para 7 and share move in para 9 By Ozan Ergenay Oct 18 (Reuters) - Voestalpine VOES.VI will reorganize its automotive component business locations in Germany, including the closure of one of the sites, to respond to falling demand and structural changes, the Austrian specialty steelmaker said on Friday.
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Autoliv's profits meet expectations as outperforms global light vehicle market

UPDATE 3-Autoliv's profits meet expectations as outperforms global light vehicle market Adds detail on pricing in paragraphs 12-14 STOCKHOLM, Oct 18 (Reuters) - Autoliv ALIVsdb.ST , the world's largest maker of airbags and seatbelts, on Friday reported third-quarter profit in line with expectations, although it lowered its sales forecast as its growth outstripped global light vehicle production (LVP).
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China approves BNP Paribas, Prudential insurance ventures

UPDATE 1-China approves BNP Paribas, Prudential insurance ventures Adds details, other regulator's speech HONG KONG, Oct 18 (Reuters) - China has approved separate insurance units to be set up by BNP Paribas BNPP.PA and Prudential Financial PRU.N , a regulator said on Friday, as it looks to further open up the world's second-largest insurance market to foreign companies.
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China approves BNP Paribas, Volkswagen joint venture, Prudential insurance unit

China approves BNP Paribas, Volkswagen joint venture, Prudential insurance unit HONG KONG, Oct 18 (Reuters) - China has approved two more insurance units to be set up by BNP Paribas and Prudential Financial in a move to further open up the local insurance market to foreign companies. China's National Financial Regulatory Administration (NFRA) has approved the creation of a joint venture between BNP Paribas BNPP.PA and Volkswagen Financial Service, Li Yunze, the head of the regulator said on Frid
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South Africa mulls tax rebates, subsidies to boost local EV industry

South Africa mulls tax rebates, subsidies to boost local EV industry JOHANNESBURG, Oct 17 (Reuters) - South Africa is considering introducing tax rebates or subsidies for consumers to boost buying of electric vehicles, President Cyril Ramaphosa said on Thursday, as Africa's most industrialised economy transitions its automotive industry. Global automakers like Ford F.N , Volkswagen VOWG_p.DE , BMW and Toyota 6201.T manufacture models in South Africa for both the local and European markets.
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VW, unions in fact-finding talks as carmaker develops new strategy

UPDATE 3-VW, unions in fact-finding talks as carmaker develops new strategy VW, unions in weekly talks ahead of next negotiation round Focus is on finding common understanding of issues, union says Unions threaten to paralyse VW if sites are closed VW says new strategy to be presented internally this year Adds statement from company intranet, spokesperson comment in paragraphs 4-6 By Victoria Waldersee BERLIN, Oct 17 (Reuters) - Volkswagen unions and management are in the midst of talks unions s
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VW talks with unions are 'serious, critical and controversial', works council chief says

VW talks with unions are 'serious, critical and controversial', works council chief says BERLIN, Oct 17 (Reuters) - Volkswagen's VOWG_p.DE works council chief said in an internal interview on Thursday that talks with the carmaker over planned cuts to its German sites were "abysmal" at the start and continued to be "serious, critical and controversial".
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As Fiat stalls, Italy's Turin struggles to stave off decline

As Fiat stalls, Italy's Turin struggles to stave off decline Historic Mirafiori car plant mostly idle and empty City seeks new life as tourism, university and aerospace hub Italian auto production set to fall to lowest level since 1958 Stellantis' Italian workers to strike on Oct. 18 By Alvise Armellini TURIN, Italy, Oct 17 (Reuters) - The Italian city of Turin, home to Europe's oldest car factory, typifies the industrial decay that parts of the continent face as its automakers struggle with the
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Adidas AG, Covivio SA, L'Oreal

EUROPE RESEARCH ROUNDUP-Adidas AG, Covivio SA, L'Oreal Oct 16 (Reuters) - Securities analysts revised their ratings and price targets on several European companies including Adidas AG, Covivio SA and L'Oreal, on Wednesday. HIGHLIGHTS * Adidas AG ADSGn.DE : RBC raises target price to EUR 265 from EUR 260 * Covivio SA CVO.PA : JP Morgan raises to overweight from neutral * L'Oreal OREP.PA : JP Morgan cuts to underweight from neutral * OCI NV OCI.AS : JP Morgan cuts to neutral from overweight * Wizz
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EU champions’ hope will slam into hard M&A reality

BREAKINGVIEWS-EU champions’ hope will slam into hard M&A reality The author is a Reuters Breakingviews columnist. The opinions expressed are his own. By Liam Proud LONDON, Oct 16 (Reuters Breakingviews) - Brussels wants European companies to join together and compete with U.S. and Chinese rivals. In many cases, however, national politicians and investors may have different ideas.
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Horizon Robotics seeks $696 mln in Hong Kong IPO, would be city's largest in 2024

UPDATE 1-Horizon Robotics seeks $696 mln in Hong Kong IPO, would be city's largest in 2024 Adds deal detail from sixth paragraph By Scott Murdoch SYDNEY, Oct 16 (Reuters) - Chinese autonomous driving firm Horizon Robotics is aiming to raise up to $696 million in a Hong Kong initial public offering, as the city's listings market shows signs of renewed activity after a nearly two-year slump.
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Horizon Robotics seeks $696 mln in Hong Kong IPO, would be city's largest in 2024

UPDATE 1-Horizon Robotics seeks $696 mln in Hong Kong IPO, would be city's largest in 2024 Adds deal detail from sixth paragraph By Scott Murdoch SYDNEY, Oct 16 (Reuters) - Chinese autonomous driving firm Horizon Robotics is aiming to raise up to $696 million in a Hong Kong initial public offering, as the city's listings market shows signs of renewed activity after a nearly two-year slump.
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Union slams wage offer for key German industries with threat of strikes

UPDATE 2-Union slams wage offer for key German industries with threat of strikes Employers propose 3.6% rise vs union demand of 7% Siemens, BMW, Mercedes involved in talks Strikes possible from Oct. 29 Updates throughout with formal offer, background, quotes from union and employers' side By Ilona Wissenbach and Alexander Hübner NUREMBERG, Germany, Oct 15 (Reuters) - G ermany's largest industrial union slammed a proposed pay rise for almost 4 million workers in key sectors on Tuesday as too lit
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Volkswagen, unions to start further talks on Germany cuts

UPDATE 2-Volkswagen, unions to start further talks on Germany cuts Second round of talks to start on Oct. 30 All German sites must be kept open, unions say Unions threaten strike if no solution found by Dec. 1 Adds further detail, background throughout Oct 15 (Reuters) - Volkswagen VOWG_p.DE and Germany's IG Metall union will start their second round of negotiations on planned cuts to the carmaker's German operations on Oct.
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Second round of wage talks at Volkswagen to start on Oct. 30

Second round of wage talks at Volkswagen to start on Oct. 30 Oct 15 (Reuters) - The second round of collective bargaining negotiations between Volkswagen VOWG_p.DE and the IG Metall union will take place on October 30, the two sides said on Tuesday. The previous round of wage talks at Europe's biggest carmaker, which has flagged possible plant closures in Germany, ended without agreement and the union has threatened with strikes from December.
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Stellantis CEO Tavares defends record in Paris over US crisis

FOCUS-Stellantis CEO Tavares defends record in Paris over US crisis Stellantis CEO spoke at four car show events Under pressure to fix US business after big profit warning Tavares cited 'personal reasons' for not seeking further term as CEO CEO did not rule out job cuts to revive business Updates intro, adds detail in 9th paragraph and shares in 14th paragraph By Nick Carey, Ben Klayman and Gilles Guillaume PARIS, Oct 14 (Reuters) - Stellantis STLAM.MI CEO Carlos Tavares alternated between defia
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Stellantis CEO Tavares in Paris spotlight over US crisis

FOCUS-Stellantis CEO Tavares in Paris spotlight over US crisis Stellantis CEO scheduled to speak at five car show events Under pressure to fix US business after big profit warning Tavares has said he will step down in 2026 Adds Stellantis CEO commentary in paragraphs 5, 6 and 7 By Nick Carey, Ben Klayman and Gilles Guillaume PARIS, Oct 14 (Reuters) - Stellantis STLAM.MI CEO Carlos Tavares kicked off a packed schedule of public events at the Paris auto show on Monday with comments that alternated
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German states vow to work together to save Volkswagen sites

German states vow to work together to save Volkswagen sites BERLIN, Oct 14 (Reuters) - The four German states with a Volkswagen VOWG_p.DE presence want to work together to ensure that the struggling carmaker does not shut any of its plants, the states' economy ministries said in a joint position paper seen by Reuters on Monday. The number one goal is to fully preserve all sites, said the ministries of Lower Saxony, Saxony, Hesse and Berlin.
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Xpeng's Gu: 'We are open to doing more with Volkswagen'

Xpeng's Gu: 'We are open to doing more with Volkswagen' PARIS, Oct 14 (Reuters) - Chinese electric vehicle maker Xpeng 9868.HK is "open to doing more" with Volkswagen VOWG_p.DE , co-president Brian Gu told Reuters at the Paris car show on Monday. Xpeng and Volkswagen forged a partnership last year, when the German carmaker bought 4.99% of Xpeng for
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Northvolt says it has paid tax bill due Monday

UPDATE 2-Northvolt says it has paid tax bill due Monday Adds background in paragraphs 7 and 9 STOCKHOLM, Oct 14 (Reuters) - Swedish battery maker Northvolt said on Monday it had paid a monthly tax bill for October, in line with a company statement last week, as doubts had emerged in media on whether the cash-strapped group would be able to do so. Northvolt in recent months has gone from being Europe's best shot at developing electric-vehicle battery independence from China to racing to raise mon
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