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Shareholders in Fiat Chrysler (FCA) and Peugeot owner PSA gave their blessing on Monday to a $52 billion mega-merger, one of the last steps towards creating Stellantis, the world’s fourth largest automaker.

With annual production of around 8 million vehicles worldwide and revenues of more than 165 billion euros ($203 billion), Stellantis is expected to play a key role in the auto industry’s jump into the new era of electrification.

Stellantis will have 14 brands, from FCA’s Fiat, Maserati and U.S.-focused Jeep, Dodge and Ram to PSA’s traditionally Europe-focused Peugeot, Citroen, Opel and DS.


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More than 200 Google employees in the United States have formed a workers’ union, the elected leaders of the union wrote in a New York Times opinion piece on Monday.

The "Alphabet Workers Union" aims to ensure that employees work at a fair wage, without fear of abuse, retaliation or discrimination, the union heads wrote here.

Google has been under fire here from the U.S. labor regulator, which has accused the company of unlawfully questioning several workers who were then terminated for protesting against company policies and trying to organize a union. Google has said it was confident it acted legally.


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Pfizer Inc and its partner BioNTech Se plan to give volunteers who received a placebo in its COVID-19 vaccine trial an option to receive a first dose of the vaccine by March 1, 2021, while staying within the study.

The trial's Vaccine Transition Option allows all participants aged 16 or older the choice to discover whether they were given the placebo, "and for participants who learn they received the placebo, to have the option to receive the investigational vaccine...


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Deutsche Bank is gaining in financial strength, putting Germany’s largest lender in a position to play a leading role in European banking consolidation, CEO Christian Sewing was quoted on Sunday as saying.

“We continue to do better and therefore meet the criteria to sit at the table when it comes to a possible consolidation of the European banks - and not just as a junior partner,” Sewing told Welt am Sonntag in an interview.

Sewing, who is pursuing a long-term drive to boost earnings power at Deutsche after years of underperformance, has consistently said that his priority was to complete a turnaround by 2022.


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Delta Air Lines CEO Ed Bastian said in a memo on Friday that he continues to expect that the company will achieve positive cash flow by the spring.

In his new year note to employees, Bastian said that company will likely “experience two distinct phases during the next 12 months.” The first phase will be similar to 2020, he said.

“The second phase will begin only when we reach a turning point with widely available vaccinations that spur a significant return to travel, particularly business travel.”


AP News | Equities.com |

While running Nissan’s North American operations from 2009 to 2011, Carlos Tavares had a reputation for closely watching costs with little tolerance for vehicles or ventures that didn’t make money.

Experts say that means Tavares, currently the head of PSA Group, is likely to follow that blueprint when he becomes leader of a merged PSA and Fiat Chrysler Automobiles. The low-performing Chrysler brand might get the axe as could slow-selling cars, SUVs or trucks that lack potential.


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Tesla Inc on Saturday reported better-than-expected 2020 vehicle deliveries, driven by a steady rise in electric vehicle adoption, but narrowly missed its ambitious full-year goal during a punishing year for the global auto industry.

The company delivered 499,550 vehicles during 2020, above Wall Street estimates of 481,261 vehicles, according to Refinitiv data - but 450 units shy of CEO Elon Musk’s target.

Musk tweeted that he was "proud of ...


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Daimler AG’s North American truck unit on Thursday agreed to a $30 million U.S. civil penalty to resolve an investigation of delayed recalls, the second time since late 2019 the German automaker has agreed to settle a probe by U.S. auto safety regulators.

The National Highway Traffic Safety Administration (NHTSA) said Daimler Trucks North America failed to recall vehicles in a timely fashion and comply with reporting requirements after the agency opened a probe in April 2018 of about 464,000 vehicles.

As part of the settlement, Daimler Trucks agreed to develop and implement an advanced data analytics program to enhance its ability to detect and to investigate potential safety defects as part of a two-year consent order that can be extended by NHTSA for one additional year.


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Airline group IAG revamped its board to ensure a majority of independent non-executive directors are from the European Union and rolled out plans to comply with ownership rules of the economic bloc following Brexit, the company said on Thursday.

Its plan includes the implementation of a national ownership structure for Aer Lingus and changes to its long-standing ownership structure in Spain, IAG said.

“It is disappointing that it has become necessary to make these changes to the Board. However, we are pleased that the EU-UK Trade and Cooperation Agreement recognizes the potential benefits of further liberalization of airline ownership and control,” Chairman Antonio Vázquez said.


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Oilfield services provider Halliburton Co has reduced its workforce in Venezuela as a result of U.S. sanctions limiting its operations in the crisis-stricken OPEC nation, a spokeswoman for the company said on Wednesday.

Washington in April limited the activities Halliburton - as well as rivals Schlumberger NV, Baker Hughes Co and Weatherford International Plc - could perform in Venezuela. The United States in 2019 sanctioned state oil company Petroleos de Venezuela as part of its push to oust President Nicolas Maduro.