Michael Horn is stepping down as CEO of Volkswagen Group of America. Hinrich J. Woebcken will act as an interim CEO for Volkswagen Group of America from 1 April 2016 onwards.
Europe
Global stocks soar on rising investor confidence
Global stocks rose further as increased investor confidence propelled buying support. Investor confidence has been strengthened after the announcement of European Central Bank's stimulus plans and encouraging US economic data.
Nicola Sturgeon Acknowledges Scotland's Economy Challenges, Said The Country Remains Fundamentally Strong After £15 Billion Deficit
Scottish First Prime Minister Nicola Sturgeon said in an interview that the country’s economy remains strong even amid challenges that she acknowledges. She expects that the huge deficit would be manageable after separation.
Diageo confirms $40-mln payment to Vijay Mallya
Diagio Plc, British liquor major, says it paid $40 million to trouble-ridden Indian businessman Vijay Mallya. This comes close on the heels of an order by Debt Recovery Tribunal (DRT) not to pay Mallya any amount.
French Court Verdicts In Favor of Uber’s Geo-Localization Service
A European Union rule requires prior notification to itself in restricting social information service. The rule also bars targeting a specific service. A French court has overturned a government order on Uber’s geo-localization service citing the two grounds. The verdict appears as a victory for Uber while challenging through a flurry of appeals both in France and at the EU level.
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Nasdaq will acquire International Securities Exchange (ISE) for $1.1 billion from Germany's Deutsche Börse. The acquisition transaction is expected to close by end of 2016 year.
Audi has come out with a high performance diesel prototype sports utility vehicle (SUV) 'SQ7 TDI.' Audi is a premier brand of Volkswagen Group, which is facing regulatory investigation over emissions scandal pertaining to cheating software installed in diesel cars.
Eurogroup President Jeroen Dijsselbloem said to begin review on Greece debt soon. The group will renew talk after Greek government continue its reform plan.
Chancellor of the Exchequer George Osborne face a hurdle in fulfilling his last year's ambition. In to eliminate budget deficit. Brexit issue and economic slowdown has decimated his plan.
Thomas Piquemal, chief financial officer of the French utility EDF has been rumored to resign over disagreement with company CEO. Due to decade low wholesale prices of electricity, the business has been forced to borrow billions of Euros for payment of dividends. Under such financial hardships, Piquemal has suggested to wait at least three years in finalizing the project plan.
Debates in favor of and against Brexit continuing in the UK and also in the EU member countries. Except the world’s fifth largest economy, both EU and Britain, are believed to get weakened in exerting influence over global issues.
The former European football giant in the 1990's are facing a financial strain. After a huge financial loss, AC Milan badly needs new investment.
Ending a sanction on Iranian oil export, The Monte Toledo, an oil tanker appears as the first to deliver crude oil in Europe since mid-2012. Iran’s oil export during February falls short from its earlier announcement for adding 500,000 barrels per day to the global oil market. However, industry insiders presume for Iranian oil exports in larger volume to Europe and Asia during the current month.
John Longworth, director general of British Chambers of Commerce (BCC) announced his resignation on Sunday. He was suspended before for publicly showing his support of Britain to exit European Union.
