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 crude rose towards $111 on Friday as concerns about Libya’s precarious security situation and lower production in the North Sea triggered worries about supply.
The German automaker aims to save around 1 billion euros ($1.30 billion) after warning on profits at its Mercedes-Benz Cars division, the Financial Times Deutschland reported.
The Swedish truckmaker sees positive trends in some important markets such as Russia and Scandinavia despite the euro zone crisis, the company’s new sales director Henrik Henriksson told business daily Dagens Industri.
The head of the flag carrier’s French unit said in an interview that the airline is doing well enough to avoid seeking further cost cuts beyond an existing restructuring plan calling for 5,000 layoffs company-wide.
Italian oil and gas group lost a gas price dispute with Dutch supplier GasTerra in arbitration that will hit net profit in the third quarter by 604 million euros ($782.30 million). Eni is considering mounting a legal challenge against the arbitration court ruling, the company said on Thursday.
Fiat management will have to explain to the Italian government why it is unable to make a profit in Europe and Italy, Corriere della Sera reported citing Industry minister Corrado Passera in Brazil. Fiat CEO Sergio Marchionne is due to meet the government on Saturday.
Nigeria’s state governors vowed on Thursday to go to court to stop the government putting oil revenues into a sovereign wealth fund.
Italian energy group Eni , Africa’s biggest foreign oil and gas producer, and partner oil trader Vitol said they had made their first important oil discovery offshore Ghana where they operate two blocks.