Peugeot maker PSA told UK it takes pride in not closing plants - minister


LONDON Britain's business minister said on Monday that executives from Peugeot manufacturer PSA, which is in talks to take over General Motors' European brands, told him last week that PSA took pride in not shutting plants.

Rosneft-led consortium plans to complete Essar acquisition next month - sources 20 Feb 2017

MOSCOW A consortium led by Russian oil major Rosneft plans to finally complete its $12.9 billion acquisition of India's Essar Oil next month, two Russian sources close to the deal told Reuters.

Exclusive - China's Geely to bid for Malaysian car maker Proton: sources 20 Feb 2017

BEIJING Chinese automaker Zhejiang Geely Holding Group Co is expected to bid as early as this week for a strategic partnership with struggling Malaysian car maker Proton Holdings Bhd, two people familiar with the bidding process told Reuters.

Germany encouraged over Opel jobs, but UK union worries 20 Feb 2017

BERLIN/LONDON Initial talks between the German government and carmakers PSA and General Motors have led to some encouraging signs that jobs at Opel factories will be preserved, though no guarantees have been made yet, a top official said on Monday.

UK minister called to parliament over Peugeot-GM deal - opposition party 20 Feb 2017

LONDON Britain's business minister will be called to parliament to answer a question on Monday regarding Peugeot's proposed takeover of General Motors' Vauxhall car and van plants in Britain, the opposition Labour Party said on Twitter.

Alibaba expands bricks-and-mortar retail push with Bailian deal 20 Feb 2017

BEIJING China's Alibaba Group Holding Ltd said it formed a strategic partnership with Bailian Group, the largest retailer by store numbers to join the e-commerce giant's drive to use big data to improve and profit from brick-and-mortar sales.

Kraft walks away from 'friendly' bid for Unilever 20 Feb 2017

NEW YORK U.S. food company Kraft Heinz Co withdrew its proposal for a $143-billion merger with larger rival Unilever Plc, the companies said on Sunday, raising questions about whether Kraft will turn its focus to another target.

Havells India to buy Lloyd Electric's consumer business for $231 million 19 Feb 2017

MUMBAI Havells India Ltd, a leading maker of lights and fans, has agreed to buy a unit of Lloyd Electric and Engineering Ltd that sells air conditioners and televisions in a 15.5 billion-rupee deal ($231.14 million), the companies said.

PSA pledges to keep Opel's four German sites running - Bild am Sonntag 19 Feb 2017

FRANKFURT PSA Group has pledged to the German government to continue operating all four of Opel's German production sites as part of the French carmaker's planned takeover of General Motors' European arm, German Sunday paper Bild am Sonntag reported.

Exclusive - SoftBank willing to cede control of Sprint to entice T-Mobile: sources 18 Feb 2017

NEW YORK Japan's SoftBank Group Corp is prepared to give up control of Sprint Corp to Deutsche Telekom AG's T-Mobile US Inc to clinch a merger of the two U.S. wireless carriers, according to people familiar with the matter. | Video

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