FRANKFURT (AFX) - Chancellor Gerhard Schroeder said that current challenges faced by car makers should be dealt with in a consensual way, in a veiled reference to the plan by Volkswagen AG's management to cut thousands of jobs.
2005-09-13 15:15:23 IAA CAR SHOW Continental AG on track to meet FY earnings goals - CEO
FRANKFURT (AFX) - Continental AG is on track to meet its earnings and sales targets for full year 2005, CEO Manfred Wennemer told AFX's partner dpa-AFX on the sidelines of the IAA Car Show.
2005-09-13 15:00:07 Rockwell Collins reaffirms FY05; bullish on FY061
NEW YORK (AFX) -- Rockwell Collins reiterated its financial outlook for fiscal 2005 and offered a bullish view for 2006 early Tuesday, citing market share gains, favorable business conditions, and improved employee efficiency.
2005-09-13 14:35:46 EADS co-chairman Enders sees record sales of Airbus airplanes this year
FRANKFURT (AFX) - European Aeronautics Defence and Space Co (EADS) expects a new sales record for the company's Airbus passenger planes this year, co-chairman Thomas Enders told the weekly magazine Capital in an interview.
2005-09-13 14:34:38 IAA CAR SHOW China's Geely sees FY unit sales up at least 40 pct
FRANKFURT (AFX) - Geely Holding Group expects its unit sales this year to rise at least 40 pct from last year, to above 140,000, with 10,000 units exported to overseas, helped by new model sales, said CEO Li Shufu.
2005-09-13 14:24:08 IAA CAR SHOW Ford's Booth says Fiat tie-up only for small cars
FRANKFURT (AFX) - Ford Motor Co's tie up with Fiat Spa is confined solely to the development of small cars, Ford Europe head Lewis Booth said.
2005-09-13 14:04:37 Delta rating cut to underweight at J.P. Morgan
NEW YORK (AFX) - J.P. Morgan slashed its rating on Delta Air Lines Inc. to underweight from overweight Tuesday, saying "changes in bankruptcy code, continued liquidity pressures, and a looming credit card holdback overwhelmingly suggest bankruptcy." The analysts are calling for an imminent Chapter 11 reorganization filing and noted that Delta will likely reduce capacity by 15%, a benefit to ATA Holdings Corp. . Shares of Delta dropped 25 cents to 85 cents a share Monday.
2005-09-13 13:57:15 American Commercial Lines IPO cites Katrina impact
NEW YORK (AFX) -- American Commerical Lines, a Jeffersonville, Indiana, barge transportation company with operations on the Gulf Coast, said its upcoming initial public offering could be impacted by Hurricane Katrina. "We have incurred charges and costs related to lost revenue, employee advances and unreimbursed expenses," American Commercial said in an amended IPO filing. Of its 3,215 barge total, 27 barges, or less than 1%, were washed ashore and temporarily removed from service. The company expects that most, if not all, of the barges will turn to service "in the near term." The company has yet to set an estimated price range for the IPO, which was filed July 19.
2005-09-13 13:16:40 Rockwell Collins reaffirms FY05, and bullish FY06
NEW YORK (AFX) -- Rockwell Collins reiterated its financial outlook for fiscal 2005 and offered a bullish view for 2006 early Tuesday, citing market share gains, favorable business conditions, and improved employee efficiency.
2005-09-13 13:10:42 IAA CAR SHOW Peugeot maintains moderate growth forecast for FY sales
FRANKFURT (AFX) - PSA Peugeot Citroen is maintaining its target of moderate growth for sales in 2005, with a stable European market, the company's chairman Jean-Martin Folz said at the Frankfurt car show (IAA).
2005-09-13 12:54:55 IAA CAR SHOW Renault unveils new Clio; presents study for luxury SUV
FRANKFURT (AFX) - Renault SA said its new Clio, set to hit the streets in October, will strengthen the company's compact car division.
2005-09-13 12:34:29 Four Southeast Asian nations launch joint anti-terror air patrols over Malacca
KUALA LUMPUR (AFX) - Four Southeast Asian nations have launched joint military air patrols over the Straits of Malacca and Singapore as part of measures to prevent piracy and terrorism in the busy waterway.
2005-09-13 12:33:25 IAA CAR SHOW Bosch sees FY sales rising 4 pct, similar growth in auto tech
FRANKFURT (AFX) - Robert Bosch GmbH chief executive Franz Fehrenbach said at the IAA Car Show in Frankfurt that his company anticipates its 2005 sales will grow by 4 pct to 41-42 bln eur compared with the year earlier.
2005-09-13 12:23:55 IAA CAR SHOW Porsche CEO Wiedeking says August new orders 'incredibly good'
FRANKFURT (AFX) - Porsche AG chief executive Wendelin Wiedeking said new vehicle orders were "incredibly good" in August despite high oil prices and a weak overall auto market.
2005-09-13 12:04:32 Thales/Accenture consortium wins 200 mln eur Danish travelcard contract
PARIS (AFX) - Thales said the consortium it leads with Accenture won a contract worth over 200 mln eur to supply travelcards for Denmark's public transport system.
2005-09-13 12:01:57 Malaysia Airlines may look at surcharge again if fuel costs rise further
KUALA LUMPUR (AFX) - Malaysian Airline System Bhd (MAS) said it may have to look at hiking its fuel surcharges again if fuel prices continue higher, just one day after raising them by 14 pct.
2005-09-13 11:37:11 Delphi chief says auto-parts supplier still seeks to avoid Ch. 11
FRANKFURT (AFX) -- Delphi Corp. (DPH) is still working on a deal with the United Auto Workers union and General Motors Corp. (GM) to avoid filing for Chapter 11 bankruptcy protection, the chief executive of the largest U.S. auto parts supplier said Tuesday.
2005-09-13 11:06:43 IAA CAR SHOW Fiat says no current plans for Ferrari IPO
FRANKFURT (AFX) - Fiat SpA chairman Luca Cordero di Montezemolo said the company has no plans at the moment to launch an initial public offering (IPO) of its Ferrari luxury sports car unit, but that should a share sale take place it plans to keep its own 56 pct stake.
2005-09-13 10:58:36 IAA CAR SHOW Ford Europe stands by FY pre-tax target this year
FRANKFURT (AFX) - US auto giant Ford Motor Co still hopes to achieve pre-tax profit of "between 100 and 200 mln usd" this year in Europe, despite a "very difficult" market, Ford Europe chief Lewis Booth said today.
2005-09-13 10:57:31 Mercedes head Zetsche sets sights on top spot in US car market
FRANKFURT (AFX) New Mercedes head Dieter Zetsche, who is set to become parent company DaimlerChrysler's chief executive on Jan 1, has pledged to promote his company's cars to the top of US quality league tables in a bid to increase sales in the country, reported the Financial Times.
2005-09-13 10:48:20 Toyota aims to cut price difference between hybrid, conventional fuel vehicles
TOKYO (AFX) - Toyota Motor Corp said it aims to narrow the price difference between hybrid vehicles and conventional petrol-powered cars, as the spike in oil prices has stoked interest in more fuel-efficient engines.
2005-09-13 10:09:34 Volkswagen's tyre and plastics suppliers demand higher prices
FRANKFURT (AFX) - Volkswagen AG's tyre and plastics suppliers are demanding higher prices for their products blaming sky-rocketing oil prices, reported the Frankfurter Allgemeine Zeitung citing an interview with VW's head of purchasing Francisco Javier Garcia Sanz.
2005-09-13 09:58:46 IAA CAR SHOW Porsche has hedged its currency exposure through 2009
FRANKFURT (AFX) - Porsche AG chief executive Wendelin Wiedeking said the company has hedged its currency exposure through 2009 in order to lessen the effect of exchange rate fluctuations on its balance sheet.
2005-09-13 09:52:50 Toyota wants to sell 1 mln hybrid cars a year globally in early 2010s - report
TOKYO (AFX) - Toyota Motor Corp is keen to achieve a global annual sales target of 1 mln hybrid cars in the early 2010s, Kyodo News Service reported, citing company president Katsuaki Watanabe.
2005-09-13 09:44:39 BMW ratings affirmed by Moody's; outlook stable
FRANKFURT (AFX) - Moody's Investors Service today affirmed the A1 long-term rating and Prime-1 short-term ratings of Bayerische Motoren Werke AG, and said the rating outlook is stable.
2005-09-13 09:38:54 German environment minister hits out at Volkswagen, car makers
FRANKFURT (AFX) - Germany's Environmental Minister Juergen Trittin criticized German car manufacturers and in particular the countrys biggest, Volkswagen AG, in a interview published in the Sueddeutsche Zeitung newspaper.
2005-09-13 09:36:14 Stagecoach, ComforDelGro in Scottish express coach joint venture
LONDON (AFX) - Stagecoach Group PLC said it has started a joint venture with Singapore listed ComfortDelGro to operate Scottish express coaches.
2005-09-13 09:33:24 China's Great Wall Auto to set up MPV assembly plant in Russia - report
BEIJING (AFX) - Great Wall Automobile Holding Co Ltd (HK 2333) will cooperate with four or five unnamed Russian manufacturers to set up a multi-purpose vehicle (MPV) assembly plant in Russia, the National Business Daily reported.
2005-09-13 09:31:12 Toyota 'on course' to achieve FY Europe sales goal of 980,000 units
FRANKFURT (AFX) - Toyota Motor Corp's chief operating officer for Europe, Thierry Dombrezal, said the car maker is set to achieve its 980,000 unit sales goal for 2005.
2005-09-13 09:22:50 Hong Kong-listed Air China Aug passenger traffic up 9.2 pct yr-on-yr
HONG KONG (AFX) - Air China Ltd, the mainland's flag carrier, said it carried 2.7 mln passengers in August, an increase of 9.2 pct from a year earlier.
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