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 crude futures slipped towards $111 per barrel on Wednesday, hurt by persistent concerns on global growth and oil demand, while Europe’s festering debt crisis added to uncertainty.
KEPPEL CORP LTD
– Keppel Corp is in talks with Malaysian state oil firm Petronas to invest in a new gas-fired power plant in Johor that could supply electricity to Singapore, the Straits Times reported without identifying its sources.
BMW, VOLKSWAGEN, DAIMLER
Volkswagen said U.S. September sales rose 34.4 percent, while its premium unit Audi said it set an all-time U.S. September sales record with 26.5 percent increase.
Mercedes-Benz U.S. reported a 7 percent rise in September sales.
Separately, Daimler Chief Executive Dieter Zetsche told newspaper Bild that he wasn’t expecting a growth impulse in Europe.
The Oslo-listed oil driller said it plans to replace Chief Executive Alf Thorkildsen with Fredrik Halvorsen, the head of its Archer affiliate, and is looking to relocate management outside Norway.
EASYJET – British low-cost airline raised its full year profit guidance after a robust summer performance, boosted by strong demand to European beach routes from London.
Brent crude futures slipped towards $111 per barrel, hurt by persistent concerns over global growth and oil demand, while Europe’s festering debt crisis added to uncertainty.
Italian carmaker Fiat SpA will stop production at its Pomigliano plant for two more weeks at the end of October because of a weak European market.
SOMALIA PETROLEUM EXPLORATION
Somalia, hoping to share in East Africa’s oil and gas boom, has invited back international oil companies that held exploration licences before civil war broke out two decades ago, an adviser to the government said.