Tires and Rubber


  • *Michelin forecasts 3 pct sales volume gain. *Michelin says profit, outlook hit by forex and pricing. PARIS, Feb 11- Tyre maker Michelin has predicted a 3 percent rise in sales this year as it pushes ahead with an expansion into emerging markets, despite reporting a sharp drop in sales and profits in 2013 due to pricing pressures and unfavourable exchange rates.

  • Currency volatility 'hard' on Michelin: CEO     Tuesday, 11 Feb 2014 | 1:20 AM ET

    Marc Henry, CEO of Michelin, comments on the group's results which were boosted by a pick-up in demand in U.S. and Europe but suffered from currency headwinds.

  • *Germany, Spain, Italy indexes have big cyclical exposure. *UK's FTSE laden with defensives, low beta energy stocks. LONDON, Jan 31- The global economy is on the mend, and for equity investors betting on a recovery through Europe's share indexes, Germany, Spain and Italy are good plays, while Britain is best avoided in spite of its rude economic health.

  • BERLIN, Jan 27- German business morale hit its highest level in 2-1/ 2 years in January and the Bundesbank said growth in Europe's largest economy would accelerate in the first quarter. The Munich- based Ifo think tank's closely-watched business climate index, based on a monthly survey of some 7,000 firms, rose for a third straight month to 110.6.

  • Workers to end siege of doomed French Goodyear plant Wednesday, 22 Jan 2014 | 8:51 AM ET

    LILLE, France, Jan 22- Workers who took two executives hostage at France's Goodyear tyre plant earlier in January are set to end an occupation of their doomed factory after a redundancy payoff deal, labour union officials said on Wednesday.

  • Jan 16- Goodyear Tire& Rubber Co has won the dismissal of a U.S. lawsuit by French workers trying to save their jobs by blocking the closure of a tire manufacturing plant in the northern city of Amiens Nord.

  • NEW YORK, Jan 14- In a case with wide implications for the global banking industry, New York's highest state court has been asked to decide if banks operating in the state can be forced to turn over to litigants assets held in their foreign branches.

  • PARIS, Jan 7- French trade unionists released two executives on Tuesday after holding them for more than 24 hours at the country's Goodyear tyre plant to demand higher pay-outs for more than a thousand planned layoffs. Goodyear did not immediately respond to a request for comment.

  • PARIS, Jan 7- French trade unionists held two executives overnight on Tuesday at the country's Goodyear tyre plant- a flashpoint for France's troubled industrial relations- to demand higher pay-outs for more than a thousand planned layoffs.

  • MUMBAI, Dec 31- The ambition from Indian mid-sized companies for large debt-fuelled acquisitions abroad was dealt a major setback after the unravelling of a $2.5 billion bid by India's Apollo Tyres Ltd to buy Cooper Tire& Rubber Co..

  • Cooper Tire ends $2.5 billion sale to India's Apollo Monday, 30 Dec 2013 | 3:10 PM ET

    U.S.-based Cooper Tire& Rubber Co said it was terminating a proposed $2.5 billion sale to Apollo Tyres Ltd, with both sides threatening legal action over a deal plagued by obstacles from the start.

  • MUMBAI, Dec 30- U.S.-based Cooper Tire& Rubber Co said on Monday it was terminating a proposed $2.5 billion sale to Apollo Tyres Ltd, marking the end of an agreement plagued by obstacles from the start.

  • The Delaware Supreme Court on Monday dismissed Cooper's appeal against an earlier lower court ruling that Apollo was meeting its obligations to reach new contract terms with unions at Cooper plants in Ohio and Texas.

  • Dec 16- Cooper Tire& Rubber Co's efforts to force Apollo Tyres Ltd to complete its proposed acquisition of the U.S. company for $2.3 billion received another legal setback, paving the way for the Indian company to walk away from the deal.

  • Pete Selleck, chairman and president of Michelin North America, explains why the group has decided to open its ninth plant in South Carolina and its strategy behind new facilities.

  • *Credit Suisse further lifts overweight in Japanese stocks. TOKYO, Dec 4- Japan's Nikkei stock average pulled back on Wednesday from a six-year closing high set the previous day, with investors pocketing gains as the yen was squeezed higher ahead of the U.S.

  • CARACAS, Nov 14- Venezuela's socialist government has arrested more than 100 "bourgeois" businessmen in a crackdown on alleged price-gouging at hundreds of shops and companies since the weekend, President Nicolas Maduro said on Thursday.

  • Nov 8- Apollo Tyres Ltd did not breach its obligation to close its $2.5 billion buyout of Cooper Tire& Rubber Co last month as originally agreed, a Delaware judge ruled on Friday. Judge Sam Glasscock rejected Cooper's allegations that Apollo was intentionally dragging its feet in talks with the United Steel Workers as an excuse to cut the deal's price.

  • *FTSEurofirst 300 flat, Euro STOXX 50 down 0.4 pct. *Indexes set 5- year highs before pullback. LONDON, Nov 7- European shares ended flat on Thursday in heavy, volatile trade as a boost from an unexpected rate cut by the European Central Bank was offset by funding concerns for smaller banks.

  • ECB rate cut sends euro zone shares to 5-yr high Thursday, 7 Nov 2013 | 8:26 AM ET

    LONDON, Nov 7- A surprise rate cut by the European Central Bank sent euro zone shares to a five-year high on Thursday as traders bet a weaker euro and easier lending conditions would help revive the region's economy and boost demand for stocks.

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