General Motors set to step back into GM Europe saga
The ongoing row between the UK government, German authorities and other investors in the GM Europe operation looks set to spill over into next week and beyond and is apparently putting the acquisition by Magna group at risk. This is a situation which has now been ongoing for a couple of months but one which many believed had been resolved more than four weeks ago.
Today General Motors, the parent company of GM Europe, suggested that the idea of keeping the operation "in-house" was back on the agenda. The company itself was saved from collapse by the US authorities although one of the elements of the deal was a need to trim back overseas operations and focus upon the US business. However, with the Magna deal more and more at risk there is a feeling that the company may well need to step in and announce the sale is off although what impact this would have on employment numbers at the likes of Vauxhall in the UK is uncertain.
The longer the deal goes unsigned and undelivered the more chance that GM Europe will revert back to type and become a long-term element of General Motors. How this will impact the UK and European car manufacturing industry is a question which many people are asking.
Share this..
Related stories
Are we approaching a crunch in worldwide oil supplies?
While for many people the subject of oil supply is something which will never cross their minds, more and more business leaders and economists are sounding the alarm bells about future oil supplies. There is a growing feeling that the worldwide supply of oil is in danger of falling below the level of demand. Indeed a doomsday forecast by a number of business leaders indicates that oil exploration...
Read MoreKraft Foods looks to the UK for growth
Kraft Foods, under the stewardship of Irene Rosenfeld, has this week confirmed it will increase its manufacturing capacity in the UK to take on board more brand names from the Kraft Foods portfolio. Despite the fact that the company was unable to give cast-iron guarantees to the UK government in a meeting last week, it seems as though Kraft Foods is more than willing to invest into the UK, somethi...
Read MoreMortgage borrowers still face wait to get advice
26/06/2015 Borrowers are still faced with long waiting times when trying to get an appointment with a mortgage adviser, according to research done by Legal & General. Even with the introduction of the Mortgage Market Review (MMR), it took on average two weeks to book an appointment with a bank adviser. This has improved since the last survey was carried out on September 2014, but waiting t...
Read MoreUnclaimed funds to go to community use
Funds lying dormant in bank accounts and building societies could be used for community purposes under new plans being considered by the government.It is estimated that up to £400 million is currently lying in accounts which have been untouched for more than 15 years, with the chancellor, Gordon Brown, looking at plans to enable the government to reclaim the money.A consultation on the issue is s...
Read MorePopular stock market terms explained (part 2)
This is part two of the summary of City terms :-
Dow Jones
This is the name given to the main American equity stock market and is the index which you will see mentioned on all of the news bulletins and in the financial press. Again, like the FTSE100 it is an index of the largest companies in the US.
Share
A share is basically a part of a...