The Renault Group will significantly reduce its stake in Nissan as part of a historic reshaping of the two firms’ Alliance. Key to the new terms of the Alliance is equity of control over the other firm: each will retain a 15% shareholding in the other, with voting rights capped in kind. Renault, which holds a… Continue reading Renault to reduce Nissan stake following crunch talks
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German Handelsblatt: Volkswagen: “Here the hut is on fire”: Harsh cuts in VW works council salaries expected006070
VW skyscraper in Wolfsburg Many employee representatives at Volkswagen have to reckon with salary cuts. (Photo: imago images / regios24) These are nerve-wracking days for the approximately 250 works council members in the Volkswagen Group. The reason is a decision by the Federal Court of Justice (BGH) in mid-January. This is likely to result in… Continue reading German Handelsblatt: Volkswagen: “Here the hut is on fire”: Harsh cuts in VW works council salaries expected006070
Nissan, Renault near deal on alliance restructuringRenault is expected to transfer the 28% stake in Nissan, worth around $4.1 billion
Nissan Motor Co and Renault SA are moving towards an agreement that involves sweeping changes to their two-decade-old automaking alliance and will release a statement on Monday, two people familiar with the matter said. The restructured alliance, which has been in the works for nearly four months, will likely see Renault cut its stake in… Continue reading Nissan, Renault near deal on alliance restructuringRenault is expected to transfer the 28% stake in Nissan, worth around $4.1 billion
Asia Digest: Sea Ltd to expand in Malaysia; Tokopedia apologises for voucher mishap
Sea Ltd is expanding its footprint in Malaysia, while Tokopedia has apologised for a voucher mishap over the weekend. Sea sets up logistics warehouse in Malaysia New York-listed Sea Ltd, the parent company of e-commerce platform Shopee, is expanding in Malaysia by setting up cloud services, data hosting and processing, and establishing a new logistics… Continue reading Asia Digest: Sea Ltd to expand in Malaysia; Tokopedia apologises for voucher mishap
India Digest: Nexus leads $7m funding in CapGrid; Bounce Infinity raises $20m
CapGrid, a B2B cloud manufacturing start-up for precision parts and components, Monday announced that it has raised $7 million in its latest funding round. Separately, Bounce Infinity has secured $20 million in funding from Sequoia, and others. Nexus leads $7m funding in CapGrid Gurugram-headquartered CapGrid, a B2B cloud manufacturing startup for precision parts and components,… Continue reading India Digest: Nexus leads $7m funding in CapGrid; Bounce Infinity raises $20m
Adani Group’s market loss swells to $65b in short-seller attack aftermath
Most Adani group shares extended their sharp falls to Monday as a detailed rebuttal of a U.S. short-seller’s criticisms by the Indian conglomerate failed to pacify investors whose market losses have now risen to $65 billion over three days. Flagship Adani Enterprises, which is facing a crucial test this week with a follow-on share offering,… Continue reading Adani Group’s market loss swells to $65b in short-seller attack aftermath
People Digest: Grab names new chief product officer; Credit Suisse revamps SE Asia leadership
Grab has named Philipp Kandal as its chief product officer from February 1, while Credit Suisse has reportedly revamped its Southeast Asia wealth business leadership. Grab promotes Philipp Kandal Southeast Asian superapp and ride-hailing giant Grab has promoted Philipp Kandal to chief product officer to oversee the product, design, and analytics team at the company… Continue reading People Digest: Grab names new chief product officer; Credit Suisse revamps SE Asia leadership
German Handelsblatt: Arnd Franz in an interview: Mahle boss on the situation of the automotive suppliers: “We will experience a wave of concentration”006067
Mahle ist groß geworden mit Kolben und anderen Teilen für Verbrennungsmotoren. Darauf entfallen heute nur noch 40 Prozent des Umsatzes. Aber die Transformation zur Elektromobilität hat der Automobilzulieferer in den vergangenen Jahren mit Akquisitionen teuer erkauft.Der Umsatz stieg 2022 zwar um mehr als zehn Prozent auf über zwölf Milliarden Euro. Der neue Mahle-Chef Arnd Franz sagt: „Operativ schreiben… Continue reading German Handelsblatt: Arnd Franz in an interview: Mahle boss on the situation of the automotive suppliers: “We will experience a wave of concentration”006067
German Handelsblatt: Arnd Franz in an interview: Mahle boss on the situation of the automotive suppliers: “We will experience a wave of concentration”006067
Mahle ist groß geworden mit Kolben und anderen Teilen für Verbrennungsmotoren. Darauf entfallen heute nur noch 40 Prozent des Umsatzes. Aber die Transformation zur Elektromobilität hat der Automobilzulieferer in den vergangenen Jahren mit Akquisitionen teuer erkauft.Der Umsatz stieg 2022 zwar um mehr als zehn Prozent auf über zwölf Milliarden Euro. Der neue Mahle-Chef Arnd Franz sagt: „Operativ schreiben… Continue reading German Handelsblatt: Arnd Franz in an interview: Mahle boss on the situation of the automotive suppliers: “We will experience a wave of concentration”006067
German Handelsblatt: Arnd Franz in an interview: Mahle boss on the situation of the automotive suppliers: “We will experience a wave of concentration”006067
Mahle ist groß geworden mit Kolben und anderen Teilen für Verbrennungsmotoren. Darauf entfallen heute nur noch 40 Prozent des Umsatzes. Aber die Transformation zur Elektromobilität hat der Automobilzulieferer in den vergangenen Jahren mit Akquisitionen teuer erkauft.Der Umsatz stieg 2022 zwar um mehr als zehn Prozent auf über zwölf Milliarden Euro. Der neue Mahle-Chef Arnd Franz sagt: „Operativ schreiben… Continue reading German Handelsblatt: Arnd Franz in an interview: Mahle boss on the situation of the automotive suppliers: “We will experience a wave of concentration”006067