Here are news stories, press reports and events to watch which may affect the auto industry, transportation and energy markets on Monday.
WORLD OIL PRICES
Brent crude dropped toward $108 a barrel on Monday as a recent surge in prices gave some investors a chance to sell their holdings for profit, while more data was eyed for clues on the health of the global economy and the outlook for oil demand.
SINGAPORE AIRLINES LTD
– Singapore Airlines’ regional carrier SilkAir said on Friday it signed a letter of intent to buy new aircraft from Boeing worth $4.9 billion, making it the largest order in SilkAir’s history.
Volkswagen will need to address some regional gaps as it seeks to become the world’s largest carmaker, head of personnel Horst Neumann told German daily Handelsblatt, citing weakness in vans and light trucks in emerging markets.
LUFTHANSA, AIR BERLIN
The opening of Berlin’s new airport may be delayed until summer 2013, instead of March 2013, due to continuing problems with its fire safety system, the Berliner Zeitung and Financial Times Deutschland newspapers reported, citing sources close to the airport’s owners.
The Italian government is waiting for the carmaker to make clear its objectives and its investment plan for the country, Industry minister Corrado Passera said on Sunday in an interview. He did not comment on potential interest from Germany’s Volkswagen for Fiat brand Alfa Romeo, but acknowledged that the Italian automotive sector could be attractive for foreign investors.
Chile’s market regulator said on Friday it sees a conflict of interest in a planned capital increase of up to $8.02 billion by the Chilean affiliate of Enel’s Spanish power unit Endesa, and imposed conditions on the operation.
ROYAL DUTCH SHELL : Royal Dutch Shell is pulling some of its funds out of European banks over fears stirred by the euro zone’s mounting debt crisis, The Times reported on Monday.
Hong Kong’s aviation regulator has halted the expansion of Hong Kong Airlines following complaints about its service standards, raising fresh doubts about the carrier’s orders for Airbus planes worth billions of dollars.
China’s government has cleared the electric battery involved in a deadly accident involving one of BYD Co Ltd’s electric vehicles that caught fire, the Chinese automaker said on Friday.
China Southern Airlines Co Ltd said on Friday its subsidiary Xiamen Airlines has agreed to buy 40 Boeing 737 aircraft as it expands internationally.
PSA PEUGEOT CITROEN
General Motors Co said it may have to write down the value of its 7 percent stake in French automaker Peugeot SA owing to the deepening fiscal crisis in Europe that has hurt vehicle sales in the region and stock prices.