Zurich Insurance's Chairman Josef Ackermann resigned abruptly following the death of the company's CFO Pierre Wauthier.
Europe
Immofinanz closes EUR 48.4 million sale of Hilton Vienna Danube
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OMV to purchase 40% stake in Madagascar's Niko Resources
Austrian oil firm OMV announced that it had agreed to buy a 40% stake in an offshore exploration block in Madagascar from Niko Resources.
Turbomeca buys Rolls-Royce's helicopter engine program stake for EUR293 million
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Zurich Insurance Group dispelled its concerns about the resignation of Josef Ackermann in the wake of its CFO's death.
Private equity firms perform at higher levels in terms of buyout financing compared to the previous year.
George Koutsos was named the new Deputy Chief Executive of the Hellenic Financial Stability Fund, replacing Marios Koliopoulos.
Swedish pharmaceutical firm Meda announced the signing of a deal for the USD 135 million purchase of US-based Acton Pharmaceuticals.
Peugeot Citroen said it would halt car production in Aulnay this November. French multinational automobile and motorcycle maker Peugeot Citroen would be stopping production in one of its plants earlier than scheduled.
French cosmetic firm L'Oreal said it could afford to buy back the EUR 23 billion stake that Nestle holds in the firm.
Finland rolled out a EUR 9 billion plan enough to pay for welfare expenses of its aging population. The government of Finland agreed on a plan to ensure that it would have money to pay welfare costs for its fast-growing elderly population.
The new agreement between US and Swiss governments would allow payment of fines or deferment of prosecution from tax evasion committed by US clients.
The government of Germany said it was still open to talk with Airbus about its development loan. The German government said it is still willing to discuss the development loan with Airbus.
