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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Sep 10, 2013
Page
17
Ares Management and Canadian Pension Plan Investment Board announce they will buy luxury retailer Neiman Marcus for 6 billion, each taking equal equity with management retaining a minority stake. Deal to close in Q4.
At Frankfurt, automakers showcase battery electrics and hybrids amid mood of relief as EU and US sales show signs of recovery. BMW, Audi, Toyota, VW reveal fast, high horsepower concepts including i8, Quattro hybrid, Yaris with three motors, and Golf Up electric.
A roundup notes BMW plug in hybrid sports car using carbon fiber with 4.5 second zero to 62. VW e Golf electric with 118 mile range. BMW X5 eDrive hybrid SUV at 62 mpg. Peugeot 308 hatchback amid EU market strain. Ferrari 458 Speciale with 3.0 second 0 62. Mercedes S 500 plug in hybrid. Opel Monza concept hints for GM Europe. Audi Sport Quattro concept hybrid with 700 hp and 190 mph. Dacia Duster updated front end. Toyota Yaris Hybrid R concept shows high performance hybrid tech.
Apple plans a Tuesday unveiling at its Cupertino headquarters to showcase the next iPhone amid investor concerns over slower growth and thinner profit margins. The event follows a year of price pressures as Android rivals intensify competition and iPhone 5 lapsed a year since its release.
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