Auto Industry, Energy, Transportation: Factors To Watch on August 28 image

Here are news stories, press reports and events to watch which may affect the auto industry, transportation and energy markets on Tuesday.

 

WORLD OIL PRICES
Brent oil futures were steady above $112 a barrel on Tuesday, supported by supply concerns after U.S. companies slashed crude production in the Gulf of Mexico as Tropical Storm Isaac threatened to strengthen into a hurricane.

Germany
LUFTHANSA
Cabin crew union UFO is due to decide later on Tuesday whether to call for a strike at Lufthansa following a 13-month dispute over pay. UFO said late on Monday that the parties had not yet reached a result and the talks were continuing.
VOLKSWAGEN
Credit rating agency Standard & Poor’s revised its outlook on VW to positive from stable and affirmed its long- and short-term corporate credit ratings at ‘A-/A-2′, saying the automaker’s credit ratios look strong enough to accommodate the acquisition of rival Porsche.

CONTINENTAL
The automotive supplier’s part-owner Schaeffler is due to publish second-quarter financial results.

Thailand
PTT PCL
Thailand’s top energy company has offered to buy out Singapore-listed Sakari Resources Ltd for $960 millionas the oil and gas firm expands into coal to meet rising
regional demand for the fuel.

Nordics
NESTE OIL

Finnish refiner Neste Oil said its Chief Financial Officer Ilkka Salonen will leave the company at the end of August and that acting Matti Piri will become acting CFO.

Italy
FIAT
Workers at Italian car maker Fiat’s Grugliasco plant outside Turin are poised to return to their jobs in September to start building a sleek Maserati Quattroporte model, but colleagues elsewhere may not be so fortunate.

France
EADS
Airbus won a $7 billion order to help more than triple Philippine Airlines Inc’s fleet, beating Boeing Co to a deal despite U.S. support for Manila in a diplomatic dispute with China.