30 Sep '12, 2pm

Car company Renault considering complete factory closure due to poor market: Report

Car company Renault considering complete factory closure due to poor market: Report

FRANKFURT (REUTERS) - French car maker Renault is considering the complete closure of factories because of the dire state of the European automobile market, the company's chief operating officer was quoted as saying on Sunday. "We will see. We are currently talking to the unions and explaining to them how big the gaps are in our competitiveness," Mr Carlos Tavares told German trade newspaper Automobilwoche. "We have a competitiveness problem in western Europe and France." The European market's prolonged decline is even starting to make previously impervious car makers, such as Volkswagen, feel vulnerable. "We're bracing for more negative surprises in 2013, perhaps also in 2014," Mr Christian Klingler, VW's sales chief, said at the Paris auto show last week. Mr Tavares pointed out that Renault's cooperation with Nissan had given the company hard data on productivity levels ...

Full article: http://www.straitstimes.com/breaking-news/money/story/ren...

Tweets

How Wednesday's closure of Ruddington Lane for 6 months' NET work will affect @trentbartonlive "Ruddington Connection:"

How Wednesday's closure of Ruddington Lane for ...

trentbarton.co.uk 30 Sep '12, 5pm

Part of Ruddington Lane will be closed from 3 October whilst essential road works take place. This means that ruddington c...

The new Silk Road is made of iron—and stretches...

QZ.com 30 Sep '12, 11pm

China is building new geopolitical “facts on the ground” all over Asia, from deep-water ports in Sri Lanka to signals inte...

Here I'm a guest at the Keiser report, in the s...

rt.com 02 Oct '12, 11am

In this episode, Max Keiser and Stacy Herbert discuss the nine scariest words in the English language: “I’m from JP Morgan...