Auto Industry, Energy, Transportation: Factors To Watch on September 5 image

Here are news stories, press reports and events to watch which may affect the auto industry, transportation and energy markets on Wednesday.

Brent crude steadied at $114 a barrel on Wednesday after a bout of profit-booking ahead of a keenly awaited European Central Bank meeting and as global growth concerns deterred buyers.

The airline is facing nationwide strikes on Friday, cabin crew union UFO said on Tuesday evening. Strikes at Frankfurt, Berlin and Munich resulted in over 350 cancelled flights on Tuesday and left 43,000 passengers stranded.
The carmaker unveiled the new version of its bestselling Golf car on Tuesday evening.
The exploration company has no plans to sell its shale gas assets in Poland, its chief executive says, denying a newspaper report it was considering such a move.

Star Petroleum Refining Co (SPRC), a joint venture of Chevron Corp and Thailand’s PTT Pcl, is to delay its IPO from the third quarter as it needs more time to work on the listing plan, a senior Energy Ministry official said on Tuesday.

The Italian carmaker plans to unveil its 500L model in the U.S. market at the Detroit car show in January 2013 and to launch production in Serbia the following month, Chief Executive Sergio Marchionne said on Tuesday.

The Scandinavian airline will increase its focus on leisure travellers and aim to bolster its position against low cost rivals, daily Jyllands-Posten said, adding that the decline in business travellers may be irreversible.

BP – The U.S. Justice Department is ramping up its rhetoric against BP for the massive 2010 oil spill in the Gulf of Mexico, describing in new court papers examples of what it calls “gross negligence and willful misconduct.”

African Markets
Kenya Airways said on Tuesday 126 out of about 600 targeted employees have voluntarily left under a plan to reduce costs, after a court lifted a temporary ban on job cuts at the carrier.

General Motors has backed away from tentative plans to share its mid-sized car technology with PSA Peugeot Citroen, a German magazine reported on Tuesday, potentially weakening the rationale for a broad alliance being negotiated by the two automakers.

The European planemaker said its parent company EADS should be allowed to join the U.S. aerospace industry’s main lobbying group because it has production facilities in the United States, employs thousands of workers, and buys $12 billion worth of U.S. aerospace goods each year.

Nissan Motor and its China joint venture with Dongfeng Automobile Group Co sold 95,200 vehicles in China in August, up 0.6 percent from a year earlier, the Japanese automaker said on Tuesday.