IT&Software

Call for talks over Vauxhall takeover bid

Call for talks over Vauxhall takeover bid

The German economy minister Brigitte Zypries said unions should have been informed of the talks sooner, while Unite boss Len McCluskey has called on the British government to protect jobs.

Neumann is reported as knowing that GM was serious about selling Opel and had undertaken an alternative plan for Opel in order it safeguard it.

Concerns have been raised about Vauxhall's 35,000-strong United Kingdom workforce as General Motors (GM) considers the sale of the loss-making arm to Peugeot-owner PSA Group. Still, GM Europe failed to break even in 2016.

PSA Group's proposal to buy General Motors Co.'s Opel brand quickly ran into a potential hurdle in Germany, with politicians and labor leaders vowing to protect jobs and the unit's manufacturing footprint in the country.

Back in 2012, GM and PSA were loss-making, both having required rescuing from bankruptcy after the financial crisis and Great Recession that followed it. Peugeot's involved investments from the French state and from China's Dongfeng Automotive, which both took stakes of 13% in the company.


PSA also said its chief executive Carlos Tavares planned to meet senior German officials, possibly including Mrs Merkel, in the near future.

If successful, the takeover would see PSA group become the second largest European auto manufacturer behind Volkswagen in the European new vehicle market. One scenario already raised by General Motors sources in discussions with Autocar is the possibility of a sweeping consolidation of Vauxhall operations in the United Kingdom, with the brand name resigned to history and being replaced by Opel - a move that was seriously considered by General Motors following the financial crisis of 2009 but ultimately decided against.

The negotiations revolve around full merger of operations between Opel, Vauxhall, Citroen, Peugeot and DS, and come after previous attempts to closely align the operations of the German and French vehicle makers.

The French government holds a 14% stake in PSA, as does the Peugeot family.

For GM, offloading Opel could mean giving up on the global sales volume race in which it is now ranked third behind Volkswagen and Toyota (7203.T), with just over 10 million vehicles delivered past year.


  • Rocket League Update to Offer PS4 Pro Support Next Week

    Rocket League Update to Offer PS4 Pro Support Next Week

    If these updates keep coming in, I may have to finally buy the game instead of mooching off of my PS Plus freebie. Same as before, we want to discuss this with you in the comments. 60 fps is also supported in 1080p and in 4K .
    Smith foresees golden future if Australia win in India

    Smith foresees golden future if Australia win in India

    The 27-year-old further said that batting in Test cricket is about making good decisions and doing that for long period of time. The Virat Kohli-led Indians, who are on a 19-match unbeaten streak, are scheduled to play four Tests against Australians.
    Former Olympic swimming champion Hackett arrested after

    Former Olympic swimming champion Hackett arrested after "breakdown"

    Hackett retired from swimming in 2008, and failed to make a comeback by qualifying for the Rio Olympics past year . Police were called to Hackett's family home around midday following reports of a disturbance, it reported.
  • It's BJP vs Congress as Uttarakhand goes to polls today

    It's BJP vs Congress as Uttarakhand goes to polls today

    In Uttarakhand , the main contestants were the ruling Congress and the BJP, which is hoping to return to power in the state. It may be recalled that anti-incumbency has forever been a key factor in Uttarakhand assembly polls.
    Carnival starts to ring the register on Cuba business

    Carnival starts to ring the register on Cuba business

    Carnival Corporation (CCL) have shown a high EPS growth of 9.00% in the last 5 years and has earnings decline of 64.90% yoy. Carnival Corporation on 12/20/2016 reported its EPS as $0.67 with the analysts projecting the EPS of the stock as $0.58.
    Kevin Love to miss Valentine's Day match in Minnesota

    Kevin Love to miss Valentine's Day match in Minnesota

    Kyre Irving scored 25 points for the Cavs and James sealed the victory with a stepback 3-pointer with two minutes to play. In a statement on the Cavaliers' website, Love had arthroscopic surgery in New York City on his left knee.
  • Panchayat polls: Modi thanks people of Odisha for unstinting support to BJP

    Panchayat polls: Modi thanks people of Odisha for unstinting support to BJP

    The second phase of elections will be held on Wednesday and voting in the fifth and final phase is slated for February 21. The election of Samiti Members, Sarpanches and Ward Members under the Zilla Parishad Zones were also held simultaneously.
    Carli Lloyd joins Manchester City

    Carli Lloyd joins Manchester City

    One of the United States' most-decorated professional athletes has joined the English club Manchester City . Lloyd, a midfielder, has been named the FIFA World Player of the Year in back-to-back years.
    What are Analysts report about: Microsoft Corporation (NASDAQ:MSFT)

    What are Analysts report about: Microsoft Corporation (NASDAQ:MSFT)

    Tracking most recent quarter period, Price to book (P/B) ration is at 7.28 and Price to cash per share ration is at 4.07. Microsoft Corporation got Upgrade on 27-Jan-17 where investment firm Citigroup Upgrade the stock from Sell to Neutral.
  • It's Official! Justin Bieber to bring Purpose Tour to India

    It's Official! Justin Bieber to bring Purpose Tour to India

    Right after its release, it became the most-streamed album on Spotify in one week with the number " What Do You Mean ". The tickets for the show will go on sale from February 22, and will cost Rs. 4,000/- [$ 60] upwards.
    SoftBank confirms $3.3B acquisition of Fortress Investment Group

    SoftBank confirms $3.3B acquisition of Fortress Investment Group

    EST after the company announced it would be acquired by SoftBank (NASDAQOTH:SFTBF), a Japanese conglomerate. Shares of Fortress Investment Group LLC (NYSE:FIG) are trading higher by about 29% as of 10:30 a.m.
    Senate Votes To Repeal Obama Gun Control Regulation

    Senate Votes To Repeal Obama Gun Control Regulation

    These individuals would be flagged in a federal background check. The House voted earlier this month to rescind the same rule. Passage of the resolution puts others at risk, they said.