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April 16, 2014
06:30 EDTDDAIF, RYCEYDaimler, Rolls-Royce price stake at EUR2.43B
Daimler AG (DDAIF) and Rolls-Royce (RYCEY) announce that they have agreed on the valuation of Daimler’s 50% equity interest in the joint venture Rolls-Royce Power Systems Holding Ltd. Both parties have determined the fair market value of Daimler’s shares due to be acquired by Rolls-Royce at a total of EUR 2.43B. The transaction is expected to close within this year and is subject to the usual regulatory approvals. Daimler will recognize the financial impact at the time of closing.
News For DDAIF;RYCEY From The Last 14 Days
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October 8, 2015
05:40 EDTRYCEYRolls-Royce plans Asian manufacturing expansion, Bloomberg reports
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October 7, 2015
06:22 EDTRYCEYRolls-Royce to bring more competition in Trent engine fixes, Economic Times says
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October 5, 2015
09:55 EDTDDAIFU.K. researchers says Ford, BMW diesels break emissions limit, Daily Mail says
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06:03 EDTRYCEYRolls-Royce to cut up to 400 jobs in Marine business
Rolls-Royce has announced plans to continue the transformation of its Marine business through a program of increased investment in research and development and further efficiencies, as it positions the business for the future, following the continuing impact of the sharp fall in oil prices. These proposals will build on a series of cost reduction initiatives carried out over the past two years, and focus on improving competitiveness by reducing corporate and administrative costs with most of the early savings being reinvested in increased R&D activity. Profit and revenue guidance for our Marine business, as set out in July, remains unchanged. The number of employees will be reduced by up to 400 worldwide by the end of next year, in addition to the reduction of 600 employees previously announced in May, which was also driven by the impact of the low price of oil and subsequent fall in orders. The company expects the proposals will generate full year savings of GBP40M, with incremental benefits from 2016 onwards; most of the early savings will be invested in increased R&D activity. Due to the timing of actions being taken, this will now see GBP20M charged in 2015 and GBP10M taken in 2016.
October 4, 2015
19:47 EDTDDAIFAutomakers ask for easier European emissions tests, NY Times says
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12:23 EDTRYCEYRolls-Royce to cut 400 management jobs in marine unit, FT says
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October 1, 2015
05:56 EDTDDAIFTrueCar boosts 2015 U.S. sales forecast to 17.4M from 17.2M
TrueCar (TRUE) raised its 2015 annual forecast by 200,000 units to 17.4 million as sales growth in the remaining months of 2015 is poised to remain vigorous. New auto sales in September, aided by a later-than-usual Labor Day, should expand by 12.6 percent from a year ago, while the Seasonally Adjusted Annual Rate should reach 17.7 million units. That strength underpins TrueCar's revised full-year industry forecast of 17.4 million units, the highest volume since 2000. Retail share of the total industry likely expanded a full point in September versus last year, indicating busier-than-average showrooms. Confident consumers are expected to push new vehicle revenue to a record $45 billion for the month, up 13.2 percent versus the same period last year. Publicly traded companies in the space include Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM), Daimler (DDAIF) and Volkswagen (VLKAY). TrueCar EVP Larry Dominique commented, "Volkswagen's stop sell of diesel vehicles in the U.S. causes a noticeable hit to its September revenue, with a 7.7 percent decline. We expect sales to dip by at least by 5 percent and incentives to increase by $235 per unit, which will be essential to push non-impacted models off the lots."
September 30, 2015
19:27 EDTDDAIFEuropean carmakers use stripped-down vehicles for certification, WSJ says
European car certification tests rely on "golden vehicles," stripped down models with oftentimes sparse resemblance to their real-world counterparts, reports the Wall Street Journal. One anonymous auto executive disclosed that automakers in the region never use random vehicles drawn from assembly lines, remarking, "It's like preparing for a major race. We tune them and pamper them like stud horses." Companies in the space include Volkswagen (VLKAY), BMW (BAMXY), Daimler (DDAIF), Peugeot (PUGOY), and Fiat Chrysler (FCAU). Reference Link
05:25 EDTRYCEYRolls-Royce reinstated with a Buy at Goldman
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September 29, 2015
10:31 EDTRYCEYAmerican Airlines, Rolls-Royce to dissolve Texas Aero Engine partnership
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September 28, 2015
19:11 EDTRYCEYRolls-Royce to face second inquiry over Petrobras links, Guardian says
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11:59 EDTDDAIFGroup 1 Automotive acquires Mercedes dealership near Austin
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06:57 EDTDDAIFNHTSA mulls Takata air bag recall expansion, Bloomberg reports
The National Highway Traffic Safety Administration, or NHTSA, is mulling an order that would expand that recalls of Takata (TKTDY) air bags and has contacted seven manufacturers who may be affected, including Volkswagen (VLKAY) and Tesla (TSLA), Bloomberg reports. Takata had identified seven companies that it has supplied with air bag inflators that use ammonium nitrate propellant, the report says, citing NHTSA letters dated September 22. The NHTSA also contacted Mercedes-Benz (DDAIF), Jaguar Land Rover (TTM), Suzuki (SZKMF), Volvo Trucks (VOLVY), and Spartan Motors (SPAR), the report says. Reference Link
September 25, 2015
08:55 EDTDDAIFDaimler AG announces it denies 'any and all; allegations of manipulation
In response to the assertions from the Deutsche Umwelthilfe, Daimler AG announced the following statement: "We categorically deny the accusation of manipulating emission tests regarding our vehicles. A defeat device, a function which illegitimately reduces emissions during testing, has never been and will never be used at Daimler. This holds true for both diesel and petrol engines. Our engines meet and adhere to every legal requirement. In light of the written request by the DUH, which was sent to us this morning with a deadline to respond by 3:00 pm, and the seven questions they posed, we can confirm that none of the allegations apply to our vehicles. The technical programming of our engines adheres to all legal requirements. We have no knowledge of measurements that indicate our vehicles did not meet legally required standards. We actively support the work being done within Europe and Germany in order to develop new testing methods which measure emissions based on real driving conditions. We work closely and constructively with the responsible authorities in Germany, Europe and the United States and will willingly provide any vehicle for testing."

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