Iveco to Sell Commercial Vehicles Unit to Tata Motors, Defense Business to Leonardo
The agreements, announced Wednesday, confirm plans set out earlier this year to separate Iveco's defense business from the rest of its operations.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
15 minutes ago
- Yahoo
Credit Agricole raises Banco BPM stake to 20.1% with derivatives
MILAN (Reuters) -French bank Credit Agricole has acquired a further 0.3% of Banco BPM via derivatives, raising its stake in Italy's third-biggest bank to 20.1%, a regulatory filing showed on Monday. The stake increase comes after Italy's UniCredit last month dropped its takeover bid for BPM after running into government opposition and failing to persuade Credit Agricole to tender its stake in BPM under the offer. Credit Agricole, a long-standing commercial partner of BPM, emerged as its single biggest shareholder in early 2022, after an earlier aborted takeover plan by UniCredit. Credit Agricole doubled its stake in December after UniCredit bid for BPM. UniCredit CEO Andrea Orcel, a veteran investment banker, said he could not afford to let his bank be sidelined in a round of consolidation sweeping Italian banking. Echoing comments made when it first said it would raise its BPM stake just above 20%, Credit Agricole said on Monday it would not seek to acquire control of BPM and would keep its stake under a mandatory takeover threshold. The threshold in BPM's case stands at 25% and sources with knowledge of the matter told Reuters last week that Credit Agricole planned to eventually get to just below 25%. Credit Agricole also said it would not seek changes to BPM's board of directors. After securing European Central Bank authorisation to cross the 10% ownership threshold in BPM, which allowed it to increase its initial stake, Credit Agricole is now awaiting ECB approval to go above 20%. It would then be able to convert the derivative contracts into shares. It has said it then intends to book the BPM stake under an accounting method reserved for significant shareholders, which allows investors to more closely benefit from the performance of the company they have invested in. Sign in to access your portfolio
Yahoo
15 minutes ago
- Yahoo
PPG, Asian Paints renew India joint venture in 15-year agreement
Agreement builds on successful partnership in one of world's fastest growing economies PITTSBURGH, August 04, 2025--(BUSINESS WIRE)--PPG (NYSE:PPG) today announced the extension of its joint venture agreement in India with Asian Paints Ltd. The 15-year renewal will allow the companies to continue serving the country's industrial, protective, marine, packaging, automotive and powder coatings customers with industry-leading solutions that solve customers' biggest challenges. The extension will take effect in 2026 and run through 2041. "We are pleased to announce the renewal of our joint venture with Asian Paints, which is a testament to the past success and strong growth potential in this key market," said Tim Knavish, PPG chairman and CEO. "This decades-long relationship is a key success factor for our business in India, and we look forward to serving customers in this rapidly growing region." The partnership was established in 1997 with the formation of a 50-50 joint venture, PPG Asian Paints Private Ltd., to service the automotive, refinish, marine and consumer packaging markets. It was expanded in 2012 with the formation of a separate 50-50 joint venture, Asian Paints PPG Private Ltd., to service the protective and powder coatings market. Both joint ventures will continue to leverage PPG's technical expertise and global footprint. PPG will continue to have management control of PPG Asian Paints Private Ltd., and Asian Paints Ltd will have effective management control of Asian Paints PPG Private Ltd. to best utilize the companies' respective strengths. To learn more about Asian Paints Ltd., visit To learn more about Asian Paints PPG Ltd., visit About Asian Paints Limited Asian Paints is India's leading paint and decor company and ranked among the top eight coatings companies in the world with a consolidated turnover of ₹ 33,797 crores (₹ 338 billion) with a market capital of approx. ₹ 2,276 billion. Asian Paints, along with its subsidiaries, have operations in 14 countries across the world with 26 paint manufacturing facilities, servicing consumers in over 60 countries through Asian Paints, Apco Coatings, Asian Paints Berger, Asian Paints Causeway, SCIB Paints, Taubmans and Kadisco Asian Paints. Asian Paints also offers a wide range of Home Décor products and is the leading player in the Integrated Décor space in India. To learn more, visit PPG: WE PROTECT AND BEAUTIFY THE WORLD® At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty materials that our customers have trusted for more than 140 years. Through dedication and creativity, we solve our customers' biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $15.8 billion in 2024. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit The PPG Logo and We protect and beautify the world are registered trademarks of PPG Industries Ohio, Inc. CATEGORY Corporate View source version on Contacts Media Contacts:Greta Edgar BorzaPPG Corporate Communications+1 724 316 7552edgar@ Parag RaneAsian Paints Ltd.+91 Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
CNET
17 minutes ago
- CNET
Spotify Raises Premium Subscription Price Globally (but Not in the US -- Yet)
For many global customers, the cost of streaming their favorite music on Spotify is about to have a bigger impact on their wallets. The music streaming service announced that it's raising the monthly price of a premium subscription to 11.99 euros ($13.87) starting in September. Spotify said that the 1 euro price hike would affect markets in South Asia, the Middle East, Africa, Europe, Latin America, and the Asia-Pacific region, but did not list the countries impacted. The price for US-based subscribers will not go up -- for now at least. That likely won't last -- the company raised the price by a dollar in 2023 and another dollar in 2024. It now costs $12. Spotify did not immediately respond to a request for comment on whether it planned on raising US prices for Premium subscriptions. In its announcement Monday, Spotify said it was introducing the price increase "so that we can continue to innovate on our product offerings and features, and bring you the best experience." The announcement gave a shot in the arm to Spotify's share price during Monday's trading, with a nearly 7% increase in the stock price at the NYSE. The share price had dropped 11.5% on July 29 after the company's profit forecast fell below what analysts had predicted.
