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Renault offers CEO job to SEAT's Luca De Meo, says La Vanguardia

French carmaker Renault has offered the chairman of Volkswagen’s SEAT brand, Luca de Meo, the job of chief executive, Spanish newspaper La Vanguardia reported on Saturday, citing anonymous sources. The report said De Meo would initially become CEO of Renault for two years before taking over responsibility for the group’s alliance with Nissan and Mitsubishi . Reuters had reported previously that De Meo was a possible candidate for the top job, along with interim Chief Executive Clotilde Delbos and Patrick Koller, the Franco-German CEO of car parts maker Faurecia , who was also tipped for …read more […]

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In 2019, Putin Couldn’t Win Back Russia’s Love

(Bloomberg Opinion) — No dictator rules without a nation’s acquiescence, but in Russia in 2019, President Vladimir Putin has found that acceptance increasingly reluctant. His reaction: an increasing reliance on the stick as the carrot harvest fails to come in.Putin discovered in 2018 that the world could be easier for him to manipulate than his own country. As the geopolitical architecture he started creating with the 2014 Crimea annexation took shape, his popularity at home took a dive — thanks to a necessary but highly unpopular pension reform, including a steep increase in the retirement age . Protest activity spiked. …read more […]

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California Governor Rejects PG&E’s Restructuring Proposal

(Bloomberg) — California Governor Gavin Newsom rejected PG&E Corp.’s proposed restructuring plan on Friday, dealing a major blow to the power giant as it tries to exit the biggest utility bankruptcy in U.S. history.Newsom said in a letter to PG&E Chief Executive Officer Bill Johnson that the utility giant’s restructuring plan falls “woefully short” of the state’s requirements. The governor said any reorganization of the San Francisco-based power company would require a better financing plan, an entirely new board and the option of a government takeover should PG&E fail to meet safety performance metrics.Newsom’s support is crucial to PG&E’s restructuring. …read more […]