Here are news stories, press reports and events to watch which may affect the auto industry, transportation and energy markets on Thursday.
WORLD OIL PRICES
Brent crude steadied near $116 a barrel on Thursday, after rising for five straight sessions, as traders awaited a U.S. Federal Reserve policy decision that is expected to include further stimulus action to bolster the world’s largest economy.
SINGAPORE AIRLINES LTD
– Singapore Airlines signed a deal worth nearly $400 million to equip its aircraft with advanced in-flight entertainment and communication systems in a bid to gain an edge over other carriers.
KIA CONFIDENT ON ORDERS
Slovak unit of South Korean car-maker Kia Motors said it was confident it will meet this year’s production targetof more than 285,000 cars, also thanks to launch of a new compact car model Cee’d Sportswagon.
EADS , DAIMLER
Daimler said it still intends to reduce its stake in EADS by the end of this year.
MAN SE Volkswagen
The head of MAN’s trucks business, Anders Nielsen, told daily Handelsblatt that takeovers were not on the agenda at the moment, when asked about any interest in U.S. peer Navistar . A German newspaper had reported in June that MAN parent Volkswagen was in the early stages of examining whether to take a stake in Navistar.
The carmaker aims to avoid plant closures in its home market by putting factories on short-time working through the autumn as Europe’s auto industry struggles with weak demand and excess production, according to union sources.
Investment fund Harris Associates increased its stake in the truck and tractor maker to 5 percent, becoming the second largest shareholder after Exor, Italian papers said citing the stock market regulator.
The Airbus parent is in advanced merger talks with Britain’s BAE Systems to create a combined group worth $48 billion.