Late Fiat UAW deal averts possible strike
Fiat Chrysler and the United Auto Workers reached a tentative agreement hours before the contract expiry. Local union leaders will vote Friday in Detroit. The UAW represents about 40 000 FCA workers at 23 U.S. plants and had prepared for a strike if negotiations failed.
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AB InBev’s 104 Billion Takeover Bid Rejected by SABMiller
SABMiller rejected AB InBev’s latest 104 billion dollar cash offer valuing the company at 64.35 per share, claiming the bid undervalues the crown jewel of global brewing. AB InBev said the bid would create a first truly global beer company and urged SABMiller shareholders to pressure the board.
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VW recalls 2.8 million cars in Germany to fix EA 189 engines
VW CEO Matthias Mueller says recall could start in January and run through 2016, covering up to 2.8 million German cars with EA 189 diesel engines. Some fixes are software only, others may need injectors or catalyzers. U.S. action awaits EPA and CARB approval.
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Analysts doubt only a few designers knew VW cheating
Industry insiders say the emissions scandal extends higher in VW than admitted. CEO Matthias Mueller cited a few software developers as the culprits, but experts warn a wider group likely knew. VW suspended four engine developers, hired a law firm, and top U.S. executive Michael Horn faces congressional questions.
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Kelley Blue Book
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