Word: merkel
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Dates: during 2000-2009
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...decision to back out of the sale of its European operations this week was a huge embarrassment for German Chancellor Angela Merkel. She had thrown her weight behind the bid by the Canadian-Austrian car-parts maker Magna and its Russian partner, Sberbank, to buy Opel and Vauxhall from the beginning, seeing it as the best way to save German jobs and offering both sides billions of dollars in loan guarantees to grease the wheels. Before GM made its sudden U-turn on Nov. 3, Merkel had also been riding high. She was coming off an electoral victory in September...
...back the $2.2 billion bridge loan that Berlin gave it a few months ago to keep Opel's business afloat. Jürgen Reinholz, the Economy Minister of the eastern state of Thuringia, says GM will likely do this by the end of November. But a huge question for Merkel is whether GM will now receive any of the $6.7 billion in loans the government had previously promised to Magna to seal the deal. The pledge had raised alarm bells in Britain, Belgium and Spain, where leaders feared that Germany was trying to curry favor with Magna and that their...
...entire European operation is still an option. "Failure to reach the restructuring that is needed would result in the operation becoming insolvent - that would be an unnecessary and undesirable outcome for everyone," says Karin Kirchner, a spokeswoman for GM in Zurich. (Read " 'Much Work' Ahead for German Chancellor Merkel...
...sleepy copyright case, Authors Guild et al. vs. Google Inc., erupted into an intercontinental brawl. Hundreds of authors and publishers from the Netherlands to New Zealand have written to U.S. District Court Judge Denny Chin, some expressing astonishment and outrage. France and Germany have protested; German Chancellor Angela Merkel singled out Google for criticism in a podcast this month. (Read about the book price war among Amazon, Walmart and Target...
...Read: "Fight over Tax Cuts Looms for Merkel...