The boards of Groupe PSA and Fiat Chrysler Automobiles have unanimously agreed to work towards a merger that would create one of the world's largest vehicle manufacturers.
Their respective teams are working to finalise a binding Memorandum of Understanding before the end of the year, which would create a company with annual sales of nearly 9 million vehicles.
Annual revenues from the 15 brands sold by the combined business would be €170 billion ($190 billion), with expected profits of around €11 billion ($12.3 billion).
The merger would deliver €3.7 billion ($4.1 billion) in estimated savings, with the bulk of cost reductions in the first four years; executives say this would be achieved without plant closures.
The merger is in response to the growing cost of adapting to the changing automotive landscape, amid a focus on vehicles that are autonomous, connected, electric and shared (ACES).
Nov 04, 2019
The boards of Groupe PSA and Fiat Chrysler Automobiles have unanimously agreed to work towards a merger that would create one of the world's largest vehicle manufacturers.
Their respective teams are working to finalise a binding Memorandum of Understanding before the end of the year, which would create a company with annual sales of nearly 9 million vehicles.
Annual revenues from the 15 brands sold by the combined business would be €170 billion ($190 billion), with expected profits of around €11 billion ($12.3 billion).
The merger would deliver €3.7 billion ($4.1 billion) in estimated savings, with the bulk of cost reductions in the first four years; executives say this would be achieved without plant closures.
The merger is in response to the growing cost of adapting to the changing automotive landscape, amid a focus on vehicles that are autonomous, connected, electric and shared (ACES).
|
Having already provided a significant amount in invoice finance and business loans to a wealth of UK SMEs, business finance company MarketInvoice is turning its attention to larger businesses, hoping to tap into the £13 billion finance market.
Launching a new specialist Corporate Solutions team, the company hopes to provide a range of larger credit facilities – such as invoice finance, business loans, and contract finance - for larger businesses with a turnover between £5 million and £50 million.
MarketInvoice is now able to provide credit facilities of up to £5 million to large businesses, based on their revenue, and up to £500,000 as a business loan for up to three years.
Nov 04, 2019
Having already provided a significant amount in invoice finance and business loans to a wealth of UK SMEs, business finance company MarketInvoice is turning its attention to larger businesses, hoping to tap into the £13 billion finance market.
Launching a new specialist Corporate Solutions team, the company hopes to provide a range of larger credit facilities – such as invoice finance, business loans, and contract finance - for larger businesses with a turnover between £5 million and £50 million.
MarketInvoice is now able to provide credit facilities of up to £5 million to large businesses, based on their revenue, and up to £500,000 as a business loan for up to three years.
|
At the forefront of cyber security and in the face of growing cyber threats, software security company Cyber Risk Aware (CRA) has recently been awarded the highest level of training accreditation from the industry by the Chartered Institute of Information Security Professionals (CIISec).
CRA offers a variety of cybercrime protective services such as running simulated phishing attacks and undertaking cyber knowledge assessments to determine where the risks lie in a business – the user, department, office, or country.
To boost the efficiency of this service, CRA also provides training and reporting so that companies can meet their legal and regulatory compliance requirements in protecting data, systems and finances.
Nov 01, 2019
At the forefront of cyber security and in the face of growing cyber threats, software security company Cyber Risk Aware (CRA) has recently been awarded the highest level of training accreditation from the industry by the Chartered Institute of Information Security Professionals (CIISec).
CRA offers a variety of cybercrime protective services such as running simulated phishing attacks and undertaking cyber knowledge assessments to determine where the risks lie in a business – the user, department, office, or country.
To boost the efficiency of this service, CRA also provides training and reporting so that companies can meet their legal and regulatory compliance requirements in protecting data, systems and finances.
|
Earlier this month, the US-based Equipment Leasing and Finance Association (ELFA) revealed its new board of directors and officers who are set to lead the trade body over the next 12 months.
Making the announcement at its 58th annual convention, the newly elected members of the board of directors include:
Oct 30, 2019
Earlier this month, the US-based Equipment Leasing and Finance Association (ELFA) revealed its new board of directors and officers who are set to lead the trade body over the next 12 months.
Making the announcement at its 58th annual convention, the newly elected members of the board of directors include:
|
In recent years, many banks in the UK have offered increasing support to British businesses through access to finance. However, many SME owners are rightly concerned about the prospect of using personal guarantees when securing access to funding.
Taking a different viewpoint on the matter, Purbeck Insurance Services has suggested that small business owners should not be deterred by personal guarantees, and instead should seek out ways they could dampen the risk.
In a survey carried out earlier this year on 500 small business owners and directors, Purbeck found that while a staggering 49% had never taken out any business finance, 29% of respondents had typically called on their bank overdraft to fund their business.
Oct 29, 2019
In recent years, many banks in the UK have offered increasing support to British businesses through access to finance. However, many SME owners are rightly concerned about the prospect of using personal guarantees when securing access to funding.
Taking a different viewpoint on the matter, Purbeck Insurance Services has suggested that small business owners should not be deterred by personal guarantees, and instead should seek out ways they could dampen the risk.
In a survey carried out earlier this year on 500 small business owners and directors, Purbeck found that while a staggering 49% had never taken out any business finance, 29% of respondents had typically called on their bank overdraft to fund their business.
|
Consumers are moving from measuring their waists to measuring waste as they consider the carbon footprint in their clothing amid widespread warnings of a global climate emergency. As John Maslen reports, growing awareness is accelerating a global trend towards a circular economy in a range of business sectors, where funding from the asset finance industry has a key role to play.
Oct 29, 2019
Consumers are moving from measuring their waists to measuring waste as they consider the carbon footprint in their clothing amid widespread warnings of a global climate emergency. As John Maslen reports, growing awareness is accelerating a global trend towards a circular economy in a range of business sectors, where funding from the asset finance industry has a key role to play.
|
Fair.com plans staff cuts in focus on core business
Stephen Haddrill appointed new director general of Finance & Leasing Association
Key drivers of change in auto and equipment finance sectors to be explored at upcoming IAFN conference
Mobility services market to reach €1.2 trillion by 2030
