Fiat Chrysler scrapped the deal after France sought to delay a decision on the deal in order to win the support of Nissan Motor Co , Renault’s Japanese alliance partner.
Renault, in a separate statement, said its board was “unable to take a decision due to the request expressed by the representatives of the French state to postpone the vote to a later meeting.” It is not clear what the two companies will do next to tackle the costs of far-reaching technological and regulatory changes. Fiat Chrysler had held inconclusive talks with France’s PSA Group, which also has the French government as a shareholder.
But people familiar with the situation said last week Nissan executives felt blindsided by the merger proposal. A Nissan spokesman had no immediate comment.
Just gotta love that French arrogance !
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FCA discusses improved Renault merger bid to win French backingFiat Chrysler is discussing a Renault special dividend and stronger job guarantees in a bid to persuade the French government to back its proposed merger
Source: TimesLIVE - 🏆 28. / 59 Read more »
FCA discusses improved Renault merger bid to win French backingFiat Chrysler is discussing a Renault special dividend and stronger job guarantees in a bid to persuade the French government to back its proposed merger
Source: TimesLIVE - 🏆 28. / 59 Read more »
BUSINESS MAVERICK ANALYSIS: SAA: Time for a Business Unusual approachNews of the resignation of SAA CEO Vuyani Jarana has aroused a binary response: If a private sector CEO with the credibility of Jarana cannot turn the airline around, then SAA is a basket case that must be placed into business rescue or sold. Alternatively, the narrative goes that Jarana’s departure is directly linked to Public Enterprises Minister Pravin Gordhan, who interferes and micro-manages, but denies crucial support when needed. The truth, as usual, is likely to be far more nuanced. sashaplanting What bs article, a donkey speaking!!!!!
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Race for low-to-middle income consumers heats up in SA’s insurance industrySA’s financial services sector is in for a shake-up. Discovery Bank, TymeBank and Bank Zero, which are underpinned by technology, will change the way in which people bank. In the process, they will challenge the dominance of the big four banks. The boring insurance industry will also reform, with the emergence of new players, African Rainbow Life and Sithega Holdings, which want to serve low-to-mid income consumers.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Forget fintech, it is Big Tech that banks should fear the mostWhile fintech start-ups have slightly rattled the cages of traditional global banks, the establishment is as strong as ever. But Facebook and Amazon are about to enter their turf, and given their power and size, banking as we know it might not survive the onslaught.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Spur and Grand Parade Investments set for divorce?Separate SENS statements, released at exactly the same time – at 4pm on Monday, 3 June 2019 – were always going to provoke speculation that Spur was buying Grand Parade Investments, or the other way around – although that seemed unlikely. The reality is less lovey-dovey.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Shock as SA’s first-quarter economic growth shrinks by 3.2%Days after President Cyril Ramaphosa pledged to implement his economic reform plans during his inauguration, the latest economic growth figures underscore the urgency in which he has to fix SA’s broken economy. During the first quarter, the economy recorded the largest contraction since the global financial crisis 10 years ago. It’s the first time the impact of recent rolling blackouts on the economy is laid bare. All the fantastic ideas from MYANC led by CyrilRamaphosa led to this, they only think of ways to destroy the economy. Soon they will run out of tax revenue and then uncle Tom cannot be blamed anymore. We need to make SA a tax heaven with no BEEE etc, allow everybody than can create jobs to go wild in doing so, use the army to stabilize security, and then investors may return to create jobs Incompetence reigns supreme !
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Why has the JSE performed so poorly?That the local stock exchange has performed spectacularly badly for investors in recent years is no secret. The detail of why is unfortunately too often overlooked.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Trade Risks Prompt Predictions for Fed Rate CutsMarkets rallied after Federal Reserve officials said they were closely monitoring the recent escalation in trade tensions and indicated they could respond to any economic deterioration by cutting interest rates.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Mexican tariffs could raise Toyota’s costs by $1 billionThe Trump administration’s proposed tariffs on Mexican imports could increase auto-parts costs for US dealers by more than $1 billion and hurt sales of its top-selling truck.
Source: dailymaverick - 🏆 3. / 84 Read more »