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Peugeot family aims to quickly raise PSA-Fiat Chrysler stake: newspaper interview

The Peugeot family, which will own a 6.2% stake in the new carmaker resulting from PSA and Fiat Chrysler’s merger, aims to increase its holding as soon as possible, a representative said in a newspaper interview. PSA and Fiat Chrysler reached a binding agreement last month on a $50 billion tie-up that will create the world’s No. 4 carmaker after the deal is completed in 12-15 months. Under the terms of the deal, the Peugeot family can increase its shareholding by up to 2.5% only by acquiring shares from French state investment bank Bpifrance Participations and …read more […]

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Pressure for 2020 as U.S. companies report end of weak profit year

NEW YORK/SAN FRANCISCO (Reuters) – As major U.S. corporations prepare to close the books on a lackluster year of profit growth, they may need to shore up confidence that 2020 will show significant improvement to keep the stock market’s rally going. Wall Street surged to record highs last week, partly reflecting growing hopes for a resolution to U.S. President Donald Trump’s tariff war with China. Investors are anxious to find out whether that will bolster the case for a pickup in earnings growth after the S&P 500’s 29% gain in 2019 occurred despite anemic profit growth in …read more […]

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As Amazon.com flexes its muscle, Seattle moves to curb corporate political donations

Seattle, the Pacific Northwest city where home-grown online retailer Amazon.com has increasingly flexed its political muscle, is expected to approve on Monday legislation banning political contributions by companies with at least 5% foreign ownership. A six-member committee of Seattle City Council has already unanimously approved the measure, making it almost certain that the full nine-member council will pass it on Monday. Amazon, Seattle’s largest employer, donated a record $1.5 million to back a slate of pro-business candidates in the November council elections – a campaign that was largely unsuccessful. …read more […]