The Department of Energy will lose about USD139 million on a loan given to Fisker Automotive under a clean vehicles program after the automaker sold part of the loan to Hybrid Technology.
Automotive
Industry insider prediction spot-on as Hertz-Dollar Thrifty deal fails
A Bloomberg recounted how the Federal Trade Commission's decision to approve the USD2.3 billion buyout deal by Hertz Global Holdings Inc of Dollar Thrifty Automotive Group Inc was a mistake.
Top deals of the day - bids, mergers and acquisitions
The following bids, mergers, acquisitions and disposals were reported on Monday including Greece banking, Fiat, BOFA, Mechel, Saputo, RBS, Lohmann, Carlyle Group, Monte dei Paschi di Siena, Kuwait Airways, Dubai Holding, SunEdison, Blackstone, Greece National Bank, IMG Worldwide, KKR, Babcock, AMR, Orrick, BAC and Fisker Automotive.
Fiat announces postponement of Chrysler IPO
Italian automaker Fiat SpA said in its announcement today that although Chrysler Group LLC has postponed plans for a 2013 initial public offering, the former expected the latter to carry on with its plans for a share sale next year.
Peugeot head Varin wants former Renault COO Tavares to replace him - sources
PSA Peugeot Citroen Chief Executive Officer Philippe Varin reportedly wants to tap the former chief operating officer of Renault SA to replace him as he steps down next year.
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PSA Peugeot Citroen is preparing to replace its present Chief Executive Officer Philippe Varin for a joint venture with Chinese partner Dongfeng, according to sources familiar with the matter.
Although Nissan had set a timeframe of its release of self-driving cars to the public, a report by US News argued that Google might be launching its version of the self-driving car earlier.
Fisker Automotive Inc filed for bankruptcy and plans for its assets to be acquired by Hybrid Technology. The group included Richard Li, the son of Hong Kong's richest man.
Online auto-shopping company TrueCar Inc is thinking of going public next year, according to sources.. TrueCar Inc offers free pricing information from over 6,000 car dealers.
France's PSA Peugeot Citroen is looking into various ways of expanding its partnership with Chinese state-run car manufacturer Dongfeng Motor Corporation.
The following bids, mergers, acquisitions and disposals were reported on Friday, including Microsoft, Comcast, Green Dot, Goldman Sachs and others.
The following bids, mergers, acquisitions and disposals were reported on Thursday including Omnicom, General Motors, Deutsche Telekom, Devon Energy and others
Catalyst maker Johnson Matthey beat its own expectations with a 13-percent rise in profit, lifted by tighter European rules on emissions due to come into force in January.
Ohio-based tank truck transportation and logistics provider Kenan Advantage Group purchased Canada-based bulk transportation provider RTS-Westcan Group of Cos in an acquisition deal with undisclosed terms.
