FILE PHOTO: Forrest Lampe-Martin unloads packages during a UPS delivery in Seattle, Washington, U.S., November 9, 2017. REUTERS/David Ryder/File Photo BRUSSELS (Reuters) - Europe’s top court opened the way to a $2 billion damages claim by U.S. delivery company UPS (UPS.N) on Wednesday by annulling a 2013 decision to stop it buying Dutch firm TNT Express. The European Court of Justice said the ruling followed a procedural error by the European Commission in its veto, which paved the way for FedEx Corp (FDX.N) to acquire TNT Express for 4.4 billion euros in 2016, a deal it approved. UPS, which has said it is seeking 1.74 billion euros ($1.98 billion) from the European Commission, said it was pleased the court agreed that the company had been given a fair hearing. “The judgment in UPS’s favor makes a number of points preserving a competitive environment in Europe by clarifying the procedure and relevant criteria for merger approval,” it said. The … [Read more...] about EU court paves way for $2 billion UPS claim as annuls TNT bid veto
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Ian Thibodeau The Detroit News Published 12:01 AM EST Jan 14, 2019 Passenger cars aren't relics for every automaker — look no further than what is expected to debut at the Detroit auto show this week. Volkswagen AG will roll out a new Passat sedan. Hyundai Motor America is expected to debut an Elantra variant. Subaru will premiere a zippy new WRX STI. Lexus will unveil a new RCF track-edition. And Toyota is using the Detroit show to bring back the Supra. And Detroit's Big Three? It's all trucks and SUVs, as General Motors, Ford and Fiat Chrysler increasingly abandon the sedan and small-car markets for what they see as more profitable, in-demand vehicles. The market for sedans is shrinking, but the cars will still make up around 30 percent the U.S. new vehicle market once the dust settles, experts and analysts say. And industry leaders outside the U.S. are angling to scoop up buyers who decide they don't want a new crossover … [Read more...] about U.S. carmakers aren’t interested in sedans. That’s OK with competitors
Karen Kaplan Los Angeles Times Published 9:32 p.m. UTC May 29, 2018 Officials in Puerto Rico say that 64 people lost their lives after Hurricane Maria slammed into the island in September. A new report says that estimate is off — by about 4,600. If the analysis is correct, it means that for every hurricane-related death that’s currently on the books, another 70 fatalities in the U.S. territory have gone uncounted. “Our results indicate that the official death count of 64 is a substantial underestimate of the true burden of mortality after Hurricane Maria,” researchers concluded in a study published Tuesday in the New England Journal of Medicine. This isn’t the first time people have questioned the official estimate of the number of deaths that ensued after the then-Category 4 hurricane made landfall on Puerto Rico on Sept. 20, 2017. The study authors noted that several “independent investigations” have put the true number “in … [Read more...] about Study: Hurricane Maria claimed 4,600 Puerto Rican lives
Tweet TweetAs you probably know, especially if you are an American customer, BMW quitted offering a wagon version of 5 Series in the States and came with the Gran Turismo variant, a model which should have been successfully replace the more familiar wagon version. Unfortunately for the Bavarians, the 5 Series GT registered extremely poor sales, BMW North America CEO, Jim O’Donnell, sharing the same opinion with us. 2011 BMW 5 Series GT (F07) According to O’Donnell, they thought that the new GT will attract the U.S. customers waiting for the wagon variant and determine them to get the hatchback model. Instead, this not happened and the customers turned their attention to the similar models in the range of German rivals. Therefore, BMW managed to sell only 2,848 units in 2010 while the initial plans were to manufacture at least 4,000 units a year for the American market. Moreover, the poor sales continued this year too, only 720 units being sold since the start of 2011, … [Read more...] about BMW completely unsatisfied about the U.S. sales of the 5 Series Gran Turismo
Volkswagen has taken parking lots to a whole new level in the United States and will not be emptying them soon. Volkswagen AG has paid more than $7.4 billion to buy back about 350,000 U.S. diesel vehicles through mid-February, a recent court filing shows. The German automaker has been storing hundreds of thousands of vehicles around the United States for months. Volkswagen has 37 secure storage facilities around the United States housing nearly 300,000 vehicles, the filing from the program's independent administrator said. The lots include a shuttered suburban Detroit football stadium, a former Minnesota paper mill and a sun-bleached desert graveyard near Victorville, California. VW spokeswoman Jeannine Ginivan said in a statement on Wednesday that the storage facility in Victorville, California, is one of many "to ensure the responsible storage of vehicles that are bought back under the terms of the Volkswagen" diesel settlements. "These vehicles are being stored on an interim basis … [Read more...] about VW storing around 300,000 diesels at 37 facilities around U.S.