(AUBURN HILLS, MI) – Chrysler Group LLC reported its preliminary 2013 first-quarter results, including net income of $166 million on revenue of $15.4 billion. As anticipated, the quarter was negatively affected by the reduced vehicle shipments that resulted from key product launches, namely the 2013 Ram Heavy Duty trucks and the 2014 Jeep Grand Cherokee, [...]
(AUBURN HILLS, MI) – Chrysler Group LLC announced that it will invest $19.6 million into its Toledo Machining Plant in Perrysburg, Ohio, to increase capacity of the torque converter it’s machining for the nine-speed transmission. With this announcement, the Company’s total investments in its US operations since June 2009 increase to over $5.2 billion. The [...]
By Andrew Harker (LONDON, ENGLAND) – A further illustration of the crisis engulfing the Spanish economy was provided today by the latest quarterly labour market statistics release by the Instituto Nacional de Estadistica (INE). Unemployment broke through the 6 million barrier, just over a year after breaching the 5 million mark. More than one-third of [...]
(LONDON, ENGLAND) – Cyprus Foreign Minister Ioannis Kasoulides and Commonwealth Secretary-General Kamalesh Sharma met in London on 24 April 2013 to discuss ways through which the 54- member organisation can assist Cyprus in dealing with its current financial troubles and build resilience to deal with future crises. The minister paid a courtesy call on the [...]
By Chris Williamson (LONDON, ENGLAND) – The HSBC Manufacturing PMI fell from 51.6 in March to 50.5 in April, according to the flash estimate produced by Markit, only a shade higher than February’s four-month low of 50.4. The above-50 reading means manufacturing conditions have now improved for six successive months but that the rate of [...]
By Tim Smitheman (BLENHEIM, ON) – Samsung Renewable Energy Inc. (Samsung) and Pattern Energy Group LP (Pattern) have announced a donation and pledge of $11.5 million dollars to the community of Chatham-Kent as part of The South Kent Wind (SKW) Community Benefits Program. The Program includes an immediate $1.5 million for community-based initiatives and the [...]
(NEW YORK, NY) – Ralph Lauren Corporation (RLC), a New York based apparel company, has agreed to pay an $882,000 penalty to resolve allegations that it violated the Foreign Corrupt Practices Act (FCPA) by bribing government officials in Argentina to obtain improper customs clearance of merchandise, announced Mythili Raman, the Acting Assistant Attorney General for [...]
By Chris Williamson (LONDON, ENGLAND) – Official data brought disappointing news on the performance of the world’s second largest economy at the start of 2013, with economic growth slowing rather than accelerating in China in the first quarter, as analysts had been anticipating. However, several factors suggest that the slowdown could merely be temporary. Economic [...]
(WINDSOR, ON) – Jeff Watson, Member of Parliament for Essex, on behalf of Denis Lebel, Minister of Transport, Infrastructure and Communities, announced $827,738 in funding for three safety improvement projects at the Windsor International Airport. The Windsor International Airport is receiving funding through the Airports Capital Assistance Program (ACAP) for the purchase of an airport [...]
(THE HAGUE, NETHERLANDS) – Russian company Summa and Dutch storage business VTTI have confirmed the construction of a new oil terminal in the Port of Rotterdam after the signing of the land transfer agreement by the partners of the Shtandart joint-venture and the Port of Rotterdam Authority. The announcement was made by Minister Kamp of [...]
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