Peugeot plans to sell a 7% stake to GM

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Source: Bloomberg
PSA Peugeot Citroen is likely to announce soon its plan to sell a 7% stake to General Motors. Both companies are expected to form a development alliance which would include production and development of vehicles and engines. GM is struggling with its unprofitable Opel unit while Peugeot attempts to reduce its debt burden. Both companies faced a sharp drop in European region sales in 2011.
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Tue, 28 Feb 2012 11:55:57 GMT

Former China's central bank adviser: GDP to hit 8.5% this year

China's economy is expected to expand by 8.5% this year, reported Fan Gang, a former adviser of the China's central bank. He also added that China will have a 'soft landing' in 2012 and there is no need for soaring GDP as economy may become overheated. Taken stabilized expansion only fine-tuning of the government policies may be required, he claimed.

Tue, 28 Feb 2012 11:03:43 GMT

German consumer confidence improved in February

German consumer climate improved slightly in February while willingness to buy and economic expectations posted some losses.  Consumer climate rose to 6.0 points for the next month as compared to 5.9 points for this month. At the same time, economic expectations lost 1.6 points but remained at the relatively high level of 5.9 points. Willingness to buy fell by 2.6

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