Here are news stories, press reports and events to watch which may affect the auto industry, transportation and energy markets on Wednesday.
WORLD OIL PRICES
Brent futures held steady near $114 on Tuesday as expectations Europe’s financial crisis is on the mend renewed hopes of a revival in oil demand growth, while simmering tension in the Middle East provided additional support.
Construction group Budimex, a unit of Spain’s Ferrovial, is in talks to state restructuring agency ARP over aid for its railway unit PNI, which is in bankruptcy protection.
VEGOILS-Palm oil ends lower as analyst comments weigh.
BP – The oil giant has set a deadline of Thursday for all bids for its stake in TNK-BP, in a move expected to elicit offers both from its oligarch partners, AAR, and from Kremlin-controlled Rosneft, the Daily Telegraph said.
Elmar Degenhart, CEO of the car parts supplier, said the market is getting tougher from quarter to quarter but confirmed a target to increase sales this year. He said he expects slight growth in cars and vans for next year.
The German government has not paid a 600 million euro tranche of a development loan for the company’s A350 aircraft, Handelsblatt reported, without citing sources.
The automotive manufacturer owned by Koc Holding plans to produce all of its armoured military vehicles in Kazakhstan, Dunya newspaper reported.
CARMAKERS IN EAST EUROPE: With Europe’s car market tumbling,it would surprise few that Volkswagen’s sprawling factory on the outskirts of the Slovak capital won’t be raising
Angolan oil exports will rise by more than 4 percent in December to around 1.74 million barrels per day (bpd) as the West African producer’s oilfields return to full production after several months of maintenance.