InfoAnda - VW seeks to cut ties with Magna: report

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

India's IT firms step up security with paramilitary | Technology | | 21 September 2009
New killings in campaign against Iraqi ex-insurgents | 22 June 2010
Judge orders trial in Anna Nicole Smith's death | 31 October 2009

Belgians proud but concerned over Van Rompuy exit | International | | 20 November 2009

Forum Views () Forum Replies ()

Read more with google mobile : VW seeks to cut ties with Magna: report

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology VW seeks to cut ties with Magna: report AFP - Sunday, October 4 Send IM Story Print People are reflected in the logo on a Volkswagen car in Hamburg. German car maker Volkswagen is seeking to end or sharply reduce its ties with car parts maker Magna after the Canadian group's takeover of VW rival Opel. BERLIN (AFP) - – German car maker Volkswagen is seeking to end or sharply reduce its ties with car parts maker Magna after the Canadian group's takeover of VW rival Opel, according to a report to be published Monday. VW purchasing chief Francisco Garcia Sanz will be meeting Magna boss Siegfried Wolf in the next few days, Der Spiegel says. Volkswagen, which buys two billion euros (2.8 billion dollars) worth of parts from Magna every year, does not want its rival deducing from VW's orders what might feature in future models, it adds. The threat to halt orders from Magna would also apply to luxury sports car maker Porsche, which now belongs to the Volkswagen group. The development follows Chrysler's decision reported on Wednesday not to renew its contracts with Magna for the production of vehicles for the European market. A spokesman for Fiat, which recently bought Chrysler, said that in future the cars would be built at the Fiat-owned Bertone plant in Italy. The Opel takeover has raised concern among competitors who do not want to see a key supplier transformed into a direct rival. "Until now, we have had a good cooperation with Magna," Friedrich Eichiner, finance director at German luxury car maker BMW, told reporters last month at the press opening of the 63rd Frankfurt motor show. "But the strategy has changed," he added. "We must consider which technologies are going to fall into the hands of a competitor." Ferdinand Piech, head of the supervisory board at Volkswagen, Europe's biggest car maker, also said: "From a business point of view, we don't like it when a supplier becomes a competitor." Volkswagen threatened to review its supplier contract, with VW chairman Martin Winterkorn saying: "We will examine our model of activity with Magna." US automaker General Motors announced in September it would sell a 55 percent stake in Opel and its sister brand Vauxhall to Magna and its Russian partner, the state-owned bank Sberbank. GM plans to hold on to a 35-percent share in Opel, with workers owning the rest of its shares. For the Canadian group the deal represents a strategic shift away from being just a parts supplier to many auto makers and an assembler of vehicles for brands like BMW. Wolf has stressed that his group would establish "a strict separation between the supplier Magna and activities tied to Opel." He pledged to respect the "protection of confidentiality" expected by Magna's partners. The head of German luxury brand Daimler, Dieter Zetsche, has said he has "no problem" with it as "Magna has confirmed again and again" the principle of two separate groups operating side by side. Ford Europe chairman John Fleming also told AFP: "Magna is a good supplier to us, we'll continue to work with them to make sure we have separation." But threats by some important clients could nonetheless destabilize Magna, said Frank Schwope, an auto analyst at German bank NordLB. "Opel has become a real competitor" for other brands and a separation of activities could be hard to put in place in practice, he told AFP. Recommend Send IM Story Print News Search Top Stories Polanski agreed to pay victim 500,000 dlrs to end suit: report VW seeks to cut ties with Magna: report Finance chiefs warn on recovery as G7 meets Tongan banker rescues people, cash from tsunami No US climate bill before December talks: Obama aide More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Four-winged dino may be missing link in bird debate Rio to host 2016 Olympics as Chicago, Obama shattered US recovery effort stumbles as 263,000 jobs lost Tongan banker rescues people, cash from tsunami World Bank warns on 2010 as US job losses mount More Most Viewed » Ozone hole smaller in 2009 than 2008: WMO Nanoparticles could pose threat to humans: scientists Implanted tooth helps blind US woman recover sight More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Sunday, 4 October 2009
Mubarak urges Israel to start final status talks
Ireland backs EU treaty by 67.13%: final results
Polanski agreed to pay victim 500,000 dlrs to end suit: report
VW seeks to cut ties with Magna: report
Rescuers search for Siciliy mudslide survivors
UN atomic chief in Iran for talks on new facility
Sudan's Bashir runs for president despite warrant
Mubarak urges Israel to start final status talks | International |
Nigerian rebel leaders give up arms in amnesty deal | International |
Russia dam disaster blamed on Chubais, five others | International |
Afghan policeman fires on US troops, killing 2
Latest typhoon kills 4 in Philippines
Army bomb expert arrested over Sri Lanka blast
After 5 years, space tourism a work in progress
Village deaths to lift Indonesian quake death toll
Pakistani Taliban chief may be dead: US official
Administration eyes ways to help laid-off workers
Focus in Samoa moves from rescue to survivor aid
NM bookmobiles: Books for those without libraries
Pakistan: Anti-Taliban tribal elder fatally shot
Water canal sparks skepticism, lawsuits in Calif.
Typhoon Parma tears into Philippines
A town's love of Indian artifacts backfires
Hunts for Indian relics date to 19th century
Myanmar-American to get Suu Kyi lawyers
U of Ill. trustees OK president's resignation
Homes evacuated as fire threatens Williams, Ariz.
Police departments back anti-terror citizens watch
About 600 missing in Indonesia landslides: official
Quake landslides wipe out 3 villages in Indonesia
NATO still seeks strategy to counter Taliban
Ireland backs key EU reform treaty in second poll
Hopes fade for Indonesia quake survivors | International |
Sarkozy to be 'twittered' at climate summit
Credit crunch clouds uneven European rebound
Mechanical giants cheered at celebration of German unity
US rolls out massive swine flu vaccination campaign
An SMS from Indonesia quake rubble a sign of hope
Russia blames top officials over hydro disaster
On Afghanistan, US military puts Obama on the spot
Kim woos China's Wen on rare visit | International |
Report says Iran has data to make atom bomb
Report says Iran has data to make atom bomb | International |
Iran's leader chides Obama over nuclear accusation
Typhoon kills 17 in Philippines | International |
Socialists set for comeback as Greece votes | International |
Israel's Netanyahu to undergo hospital tests | International |
Former Japan finance minister found dead | International |
Honduran leader, Zelaya inch toward crisis talks | International |
US NGOs concerned by Obama's Darfur envoy, policy
Moderate earthquake hits off coast of Taiwan
Hopes fade for Indonesia quake survivors
Myanmar minister promises 'free and fair' elections
Congress poised to act swiftly on Iran if needed
Mormon church to build 5 new temples worldwide
Elliott, Vettori guide New Zealand into final
Texas golfer dies trying to retrieve stray ball
Typhoon Melor begins move from Northern Marianas
NY man accused of tweeting cop actions at protests
Police chiefs endorse anti-terror community watch
7 wedding guests fall ill at NH reception
China factories short of workers in Christmas run-up
Nervous US retailers brace for critical holiday season
Japan must boost domestic demand: minister
Insurance man accused of stalking ESPN's Andrews
US-ENTERTAINMENT Summary
Polanski agreed to pay victim $500,000: report
5.5-magnitude quake rocks eastern Indonesia: USGS
On UN mission, Bill Clinton promotes tourism in Haiti
100,000 protest for press freedom in Rome
Mechanical giants cheered at celebration of German unity
Cuba lambasts US embargo after orchestra tour shelved
Hopes fade for Indonesian quake victims
Tour de force in tulle from Viktor & Rolf
Hurry or be sacked, Moscow boss tells Bolshoi contractor
Indonesia's 'unlucky' president takes quake blame
Polanski agreed to pay victim $500,000: report | Entertainment |
IAEA to inspect Iran nuclear site on October 25
T-Rex fails to impress Las Vegas bidders
Palestinians angry as Abbas drops war crimes case
IAEA to inspect Iran's Qom site October 25 | International |
Berlusconi's Fininvest hit with 750 mln euro payment
Eight US troops killed in Afghanistan
Gaza woman freed in last step of soldier-video swap | International |
Israel's Netanyahu to undergo hospital tests
Vote offers Balkans EU hope despite new problems | International |
Zawahri says Libya killed man who linked Iraq, Qaeda | International |
Cybersecurity starts at home and in the office
Pakistan: Troops kill 9 militants in Swat
Samoans prepare to bury tsunami victims
Jackson, Farrakhan at beaten Ill. teen's funeral
S.Korea rejects demands to return defectors
New term and new justice for nation's higher court
North Korea demands SKorea return 11 defectors
Chinese premier meets Kim Jong Il on NKorea visit
Missouri man gets life for killing stepdaughter
Death toll from floods rises to 205 in south India
Greek man with gun arrested at Pakistan airport
Arizona wildfire slows but still threatens homes
Death toll in Indian floods passes 200: officials
Deadliest days for US troops in Afghanistan
IMF hails Japan's plan to boost social spending
Rio gets a chance to show off sporting passion
South Asia frets over high food prices
China mulls banker pay, but bonuses not the issue
Tales of everyday racism set France on edge
In Poland, honey
Indonesian villagers use bare hands to dig corpses
Malaysian singer arrested in Hong Kong for assault
Author Coetzee eyes Booker triple, Mantel favorite | Entertainment |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01