VW wants German-style labor model at U.S. plant, but workers must vote
LOS ANGELES (Reuters) – Volkswagen AG wants the workers at its Tennessee plant represented by a German-style works council, but the final form of representation and whether that includes the United Auto Workers union must be decided by the employees in…
Exclusive: Silver Lake hires banks for Mercury Payment IPO – sources
(Reuters) – Private equity firm Silver Lake has hired JPMorgan Chase & Co , Barclays Plc and Morgan Stanley to lead a potential initial public offering of Mercury Payment Systems LLC, according to people familiar with the matter.
Venezuela launches joint venture with Samsung Electronics
CARACAS (Reuters) – Venezuela’s government and South Korea’s Samsung Electronics said on Wednesday they are forming a joint venture to assemble devices and home appliances in the South American country.
ECB nominates France’s Nouy to chair banks supervisor
FRANKFURT (Reuters) – The European Central Bank said its Governing Council nominated France’s Daniele Nouy on Wednesday to chair the new banking supervisor that is due to start operating under the ECB’s roof from November next year.
Mexico Pemex CEO criticizes Repsol chairman’s earnings
MEXICO CITY (Reuters) – The chief executive of Mexico’s state-run oil monopoly Pemex on Wednesday criticized the compensation paid to the chairman of Spain’s Repsol as excessive, amid a dispute between the two that originated from Argentina.
EU orders France to recover state aid from ferry operator
PARIS (Reuters) – The European Commission has told France to recover 440 million euros ($595 million) in illegal state aid from long-struggling ferry operator SNCM, threatening the survival of a business the government is eager to rescue.
EADS to cut up to 20 percent of Airbus Defense & Space jobs: paper
FRANKFURT (Reuters) – European aeronautics group EADS is planning to cut up to 20 percent of the roughly 40,000-strong workforce at its newly created Airbus Defense & Space division, German news agency dpa reported on Wednesday, citing “informed sources”.
Lockheed sees more clarity on Saudi naval buy in next months
DUBAI (Reuters) – Lockheed Martin Corp expects news about a multibillion dollar program to modernize the Saudi Arabian Navy in the next several months, senior company executives told Reuters at the Dubai Airshow on Wednesday after meetings with Saudi o…
Royal Mail bankers reject claims sale price was too low
LONDON (Reuters) – Goldman Sachs and UBS bankers said Britain could not have sold the Royal Mail postal service at its current higher price, rejecting accusations that one of the biggest privatizations in years had short-changed taxpayers.
WTO closes in on landmark trade reform
GENEVA (Reuters) – The World Trade Organization is close to the first worldwide trade reform since it was formed 18 years ago, diplomats and trade officials said on Wednesday, as marathon negotiations defused some of the most complex disputes.
