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Report: Goodyear to close plant in northern France

Report: Goodyear to close plant in northern France

Tyre maker Goodyear is preparing to shut down a French plant that employs 1,250 workers near the northern city of Amiens. According to a French government official quoted by French newspaper Le Monde, the plan will be presented at a January 31 works council meeting. “We’ve been informed of the […]

French government names former EADS boss to Peugeot board

French government names former EADS boss to Peugeot board

PSA Peugeot Citroen appointed a senior government adviser and former head of EADS to its supervisory board. Europe’s second-largest carmaker accepted the appointment in exchange for a state-backed bailout. The Peugeot board agreed to submit the nomination of Louis Gallois to the annual shareholder meeting in April, the company announced […]

PSA Peugeot Citroen debt risk soars to a record level

PSA Peugeot Citroen debt risk soars to a record level

PSA Peugeot-Citroen is seeing difficult times ahead, as the cost of insuring the company soared more than any company in Europe. The reason for this is that insurers are worried that PSA’s asset sales won’t be enough to revive the carmaker’s finances. Credit-default swaps on PSA rose to a more […]