Word: austrian
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Thousands of Opel workers in Germany are breathing a huge sigh of relief after the last-minute deal to rescue GM's European operations. German unions had always supported Austrian-Canadian company Magna International's takeover of GM Europe, wary that the rival bid from Fiat was just an attempt, as one union official put it, to "pinch German engineering." The unions regard Magna as an innovative company that put forward the best plan to secure the long-term future of Opel. At the carmaker's headquarters in the town of Rüsselsheim near Frankfurt, workers were hugging friends...
...After marathon talks on Friday night, the German government approved plans by the Austrian-Canadian car-parts manufacturer Magna to take over GM's European business. Under the deal, Opel will be placed in a trust and the German government will provide a bridging loan of $2.1 billion (€1.5 billion) to provide Opel with emergency funding and keep GM's European operations running. On top of that, the German government will give $4.3 billion (€3 billion) in loan guarantees. The Canadian firm would own 20% of the new group, Russia's biggest lender Sberbank would have...
...Austrian-Canadian Magna group and Italy's Fiat SpA remain the strongest bidders for Opel. Under pressure from trade unions and key leaders of German states where Opel operates, Berlin has appeared thus far to favor the plan presented by the Austrian billionaire Frank Stronach, whose Magna group is a major worldwide supplier of components to GM. Stronach has teamed up with Russian carmaker OAO GAZ Group and the state-controlled Russian financial group OAO Sberbank. Russian Prime Minister Vladimir Putin has been lobbying Merkel to support the Magna bid. Stronach told reporters on the sidelines of Wednesday's meeting...
...Quentin Tarantino's Inglourious Basterds the only fully American entry in the running - Taking Woodstock by Ang Lee is generally considered part-American, part-Taiwanese - it was always likely that the Palme d'Or would remain in the hands of world cinema. And so it has proved, via the Austrian Haneke's White Ribbon victory. Cue the debate...
...their benisons on difficult art films, not movies that strain to entertain. In a festival where 12 of the 20 competition films ran two hours or longer, and five clocked in near two and a half hours, the top honors went to a pair of these epic-length dramas. Austrian and French films received the top two prizes; an Austrian actor and a French actress took the awards for best performances, in English-language films. No American won anything. (See pictures of the red carpet at Cannes...