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U.S. markets recover from steep losses
TOKYO, July 2 (UPI) -- Japan's Nissan Motors reportedly is open to a proposal to join Renault SA in buying a significant share of U.S. automaker General Motors.
The Yomiuri Shimbun said Nissan CEO Carlos Ghosen, is interested in perhaps a 20 percent stake in GM as proposed on Friday by Tracinda Corp., one of the ailing U.S. auto giant's major stockholders.
Tracinda, a U.S. investment firm headed by billionaire investor Kirk Kerkorian, currently owes about 9.9 percent of GM shares.
Sources told the newspaper a combined global entity of GM-Nissan-Renault would be capable of producing 15 million vehicles annually, about a quarter of the world market.
Kerkorian and Ghosen reportedly met in June to discuss the merger proposal before it was given to GM Chairman and CEO R. Richard Wagoner June 30.
Nissan bought a stake in France's Renault in 2002.
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WASHINGTON, May 23 (UPI) --
The planned Keystone XL oil pipeline would move oil away from refineries that produce gasoline, increasing prices, the National Resource Defense Council says.
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MELBOURNE, Fla., May 23 (UPI) --
Northrop Grumman says its Military Airworthiness Certification is closer for its re-engined EC-8 Joint Surveillance Target Attack Radar System aircraft.
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The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
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What if Europe turned out to be the new Japan?
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