Maranello, 20 May, 2020 – Ferrari N.V. (“Ferrari”) (NYSE/MTA: RACE) announced today that it plans to offer unsecured debt securities (the “Notes”) in benchmark size and subject to market conditions. The Notes are intended to rank pari passu with respect to all other outstanding unsecured and unsubordinated obligations of Ferrari.Ferrari intends to use the net… Continue reading Ferrari Announces Offering of Notes
Category: Newswire
LEAKED: Europe’s draft ‘green recovery’ plan
The European Commission’s promised green recovery plan will focus on building renovation, renewables and hydrogen as well as clean mobility and the circular economy.Yesterday, EURACTIV got hold of a draft presented as “a working document” related to the green aspects of the recovery plan.On the funding side, the Commission plans to launch a “European Renovation Financing Facility”, tentatively financed with €91 billion per annum and blended with other sources of funding to reach €350 billion in investment per year.
E-car batteries will be produced in Voderady
The first factory for e-car batteries will stand in Voderady (Trnava Region).At the same time, the new research and development centre should create 150 new, highly-qualified vacancies.By finishing the centre, the InoBat Auto company will complete the first phase of launching its operation.
Groupe Renault : availability of sales figures for April 2020
Communication about availability – Renault sales figures for April 2020Boulogne, May 19, 2020Renault announces that its sales figures report for April 2020 is now available on Renault website www.group.renault.com, tab Finance, in the ‘Regulated information’, ‘Monthly sales’. AttachmentAvailability RENAULT Sales Go to Source
Uber to cut 3,000 more jobs amid COVID-19 pandemic
SAN FRANCISCO, May 18 (Xinhua) — Uber said on Monday that the company is cutting about 3,000 more jobs amid COVID-19 pandemic.
“We have made the incredibly difficult decision to reduce our workforce by around 3,000 people, and to reduce investments in several non-core projects,” Uber CEO Dara Khosrowshahi wrote in a letter to employees.
Along with the 3,700 jobs the company announced to cut earlier this month, the San Francisco-based ride-hailing company is laying off 25 percent of its staff.
Uber is also closing or consolidating some 45 offices globally, including its Pier 70 office in San Francisco, a branch responsible for its experimental projects like self-driving cars. Over the next 12 months, it will begin the process of moving its Asia-Pacific headquarters out of Singapore to a new location “in a market where we operate our services,” according to the company.
Uber will reduce its costs by over 1 billion U.S. dollars a year by these actions, the company said.
“We began 2020 on..
Hazards with Leading Ideal One puts NEV safety in spotlight
It set back the startup’s ability to market its products and brought the safety of NEVs back into the spotlight.On Tuesday, the Ministry of Industry and Information Technology launched three mandatory national standards on the safety of electric vehicles.China’s NEV standards are the first mandatory national standards for the country’s electric vehicle industry.
BMW remains optimistic with a glimmer of hope coming from China
China is offering a ray of hope for BMW as auto markets in Europe and the US are still reeling from the coronavirus pandemic.The overall car market saw a 4.4 percent rise in April as well, ending a 21-month decline.The carmaker is ramping up investment in the country because of its confidence in the medium and long-term business outlook of the world’s largest auto market.
SsangYong launches downsized gasoline Tivoli SUV in Europe
SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., said Monday it launched a downsized Tivoli SUV in Europe last week to help revive sales.The SUV-focused carmaker currently sells most of its models in Europe: the Tivoli models with a 1.5-liter turbocharged gasoline engine or a 1.6-liter diesel engine, the flagship G4 Rexton, Korando and Rexton Sports SUVs.Mahindra currently owns a 74.65 percent stake in SsangYong Motor after two rounds of rights issues worth 130 billion won since 2013.
WABCO and ZF Receive Regulatory Clearance in the People’s Republic of China for their Proposed Merger; Announce Expected Closing Date
BERN, Switzerland and FRIEDRICHSHAFEN, Germany, May 15, 2020 (GLOBE NEWSWIRE) — WABCO Holdings Inc. (“WABCO”) (NYSE: WBC) (www.wabco-auto.com) and ZF Friedrichshafen AG (“ZF”) today announced that the Chinese State Administration for Market Regulation provided regulatory clearance for their previously announced merger.All required regulatory approvals have now been received and WABCO and ZF expect to close… Continue reading WABCO and ZF Receive Regulatory Clearance in the People’s Republic of China for their Proposed Merger; Announce Expected Closing Date
BMW plant in Debrecen will be built, FM says
The value of the investment is more than EUR 1 billion.The construction of two motorway exits is also proceeding according to schedule.Michele Melchiorre, managing director of BMW Manufacturing Hungary, confirmed that the construction work is proceeding according to schedule.