Germany's Volkswagen (VOWG_p.DE) plans to launch a family of low cost budget cars in China and possibly elsewhere starting in 2018, its chief executive said in a newspaper interview on Sunday.
Europe
Markets on edge as Greece heads for default
Euro zone stocks and low-rated bonds recovered the worst of their losses on Tuesday but remained on edge as Greece looked set to default on a debt repayment to the IMF and plunge deeper into financial crisis.
Novartis buys pain drug firm Spinifex for $200 million upfront
Swiss drugmaker Novartis AG (NOVN.VX) boosted its presence in pain management on Monday by agreeing to buy U.S.-Australian biotech firm Spinifex Pharmaceuticals, the companies said in separate statements on Monday.
Greece in shock as banks shut after creditor talks break down
Greeks woke up to shuttered banks, closed cash machines and a climate of rumors and conspiracy theories on Monday as a breakdown in talks between Athens and its creditors plunged the country deep into crisis.
EU tries to look beyond Greece to deepen China ties
The European Union will briefly put aside worries about Greece to broaden its relations with China at a summit in Brussels on Monday, hoping for Chinese investment in Europe's new infrastructure fund and support for a global climate deal.
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Greece said it may impose capital controls and keep its banks shut on Monday after creditors refused to extend the country's bailout and savers queued to withdraw cash, taking Athens' standoff with the European Union and the International Monetary Fund to a dangerous new level.
FedEx (FDX.N) has asked the European Union's competition regulator to approve its 4.4-billion-euro ($4.9 billion) bid for Dutch rival TNT Express (TNTE.AS), the U.S. package delivery service company.
Greece failed again to clinch a deal with its international creditors on Thursday, setting up a last-ditch effort on Saturday to either avert a default next week or start preparing to protect the euro zone from financial market turmoil.
Fiat Chrysler Automobiles (FCHA.MI) (FCAU.N) is a long way from making any offer to the shareholders of U.S. rival General Motors (GM.N) over a possible tie-up, FCA Chief Executive Sergio Marchionne said on Wednesday.
Persistent concerns of Greece leaving the euro weighed on European stocks on Thursday, with the lack of progress in negotiations on a cash-for-reform deal for Athens pushing investors towards safe-haven German Bunds.
JPMorgan (JPM.N) has hired Arkadi Nachimowski from Deutsche Bank (DBKGn.DE) to head its chemicals team in Europe, the Middle East and Africa (EMEA), according to a memo seen by Reuters on Wednesday.
Finnish utility Fortum (FUM1V.HE) said on Wednesday it has failed so far to reach a deal with Russia's Gazprom (GAZP.MM) and Rosatom on assets swap in Russia to allow it to take stakes in Fennovoima nuclear power plant project.
British private equity firm Charterhouse [CHCAP.UL] is working with JP Morgan (JPM.N) on options for healthcare company Tunstall, in a deal which could value the company at up to 700 million pounds ($1.1 billion), a source familiar with the matter said on Tuesday.
As the big global banks and investment houses see it, almost every outcome of Greece's stand-off with its creditors leads to a weaker euro. So why isn't the single currency falling?
