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U.S. markets recover from steep losses
MOSCOW, March 1 (UPI) -- French carmaker Renault has agreed to buy a minority stake in Russia's AvtoVaz, the company said.
Renault Chief Executive Carlos Ghosn said he would pay more than $1 billion for a 25 percent plus one share stake in AvtoVaz, which makes the Lada brand, EuroNews reported Saturday.
Russia's automotive market is reportedly booming, with incomes among middle-class Russians growing. Analysts predict Russia will overtake Germany as Europe's biggest car market this year, EuroNews said.
U.S. automaker General Motors and Italy's Fiat also expressed interest in the AvtoVaz stake.
AvtoVaz is seeking to sell a quarter of its shares to help the company double production by 2014 and modernize its manufacturing plant along the Volga River.
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CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
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ORLANDO, Fla., May 23 (UPI) --
The U.S. Air Force has added Lockheed Martin to its list of companies for support of its medical services worldwide.
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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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