Month: June 2012

Business

Volkswagen Targets to Seal Porsche Purchase Before 2014

- by Jayden Attard

German auto manufacturer Volkswagen (VW) wants to integrate the sports-car maker Porsche’s as soon as possible, by August 2014. According to company sources, the deal would be free of tax because “the right time has to come.”. However, neither party is interested to wait so long. According to reports of Wirtschaftswoche, a Business weekly, Porsche SE found a way to sell the remaining 50.1% of its auto production plant to VW without paying an estimated …

Volkswagen Targets to Seal Porsche Purchase Before 2014 Read More
Business

GM Recalling All Cruz’s Over Fire Risk

- by Dylan Thurston

After reports of engine fires, General Motors(GM) Company is calling back all its 475,000 Chevrolet Cruze compacts, from 2009 through May 31. It’s a reversal for the Detroit automaker looking to raise sales of fuel-efficient compact cars. The recall includes 413,418 vehicles in 2011-12 Cruz’s in the United States, 61,299 in Canada, and 701 in Israel. Detroit-based GM wanted to change the engine shield, which will prevents liquids from being cornered in the engine compartment, …

GM Recalling All Cruz’s Over Fire Risk Read More