Here are news stories, press reports and events to watch which may affect the auto industry, transportation and energy markets on Friday.
WORLD OIL PRICES
Brent futures slipped towards $112 per barrel on Friday, but is on course to end a choppy week nearly flat as rising tensions in the Middle East battled with perennial worries about the global economy and oil demand.
SINGAPORE TECHNOLOGIES ENGINEERING LTD
ST Engineering said its electronics arm had won about S$166 million worth of contracts for rail electronics and satellite communications and sensor solutions in the third quarter.
Czech new passenger car registrations fell by 6 percent year on year in the third quarter to 36,826 units as demand in the recession-hit economy ebbed, the country’s Car Importers Association said on Thursday.
Airlines cannot use strikes as an excuse not to pay compensation to travellers they bump off flights, Europe’s highest court said on Thursday, widening the scope of passenger rights in the European Union.
Volkswagen has cut its internal 2012 sales target for Western Europe by up to 140,000 vehicles, Handelsblatt said on Thursday, citing the group’s works council head.
The group is ready to relaunch talks with General Motors for the European division of Opel should GM decide to sell it, Il Sole 24 Ore said. The idea would be to buy it at zero cost, it said. The project has not yet been formally presented to GM, it said.
The oil and gas group will increase its oil and gas output to 2.5-3.0 million barrels of oil equivalent per day in five-six years’ time from 1.8 million boe/day today, its Chief Executive Paolo Scaroni said on Thursday.
Embattled U.S. truck and engine maker Navistar International Corp, a rival of Sweden’s AB Volvo, may close factories in its bid to cut costs, its newly named CEO Lewis Cambell said in a Reuters interview late on Thursday.
Brent futures slipped below $112 per barrel, but were on course to end a choppy week nearly flat as rising tensions in the Middle East battle with perennial worries about the global economy and oil demand.
CEBU AIR INC
Cebu Air Inc said it had been invited to take a look at acquiring unlisted Zest Air but said any interest it has on the airline was non-binding and at best indicative, adding it was not doing any due diligence at the moment.