Entries tagged "Volkswagen"
Out as CEO, Wendelin Wiedeking may have warm memories of German carmaker Porche as well as a $71.2 million severance to ease his sorrows.
Luxury carmaker Porsche has been turned down for a $2.44 billion loan from the German government.
With mounting debts exacerbated by a bad €1 billion ($1.35 billion) bet on shares of carmaker Volkswagen AG, German billionaire Adolf Merckle, who according to Forbes is the world's 94th wealthiest person, took his own life Monday. In a statement, the industrialist's family said the 74-year-old felt helpless by the process of trying to cover his bad investments. ...
The name "Yugo" is more likely to elicit giggles than investment capital in the U.S. But the ongoing privatization of Serbian automaker Zastava, the current incarnation of the one-time Yugoslavian state automaker, shows that there is some value in a brand oft-scorned in the U.S. -- Time magazine once declared the Yugo one of the worst cars of all time. ...
Yes, you did lose one hour of sleep. But while you yawn and wake up, take a look at the latest news and rumors. Berkshire Hathaway Inc. is selling a 16.3% stake in White Mountains Insurance Group Ltd. for a whopping sum of $836 million, according to Reuters. Nationwide Financial Services' parent company, Nationwide Mutual Insurance, has offered to buy the rest of the shares in the company for $2.2 billion in cash, The New York Times reports.Countrywide Financial Corp. is being investigated for possible securities fraud, according to The Wall Street Journal.Rio Tinto may tell shareholders that its aluminum business...
