The Wall Street Journal Asia
Maruti Suzuki India, the local unit of Suzuki Motor, is facing what has become a familiar hazard in the country: labor action.
On Wednesday, a strike by about 2,000 workers at one plant entered the fourth day. With $9 million of potential revenue lost each day from the closure, the total is about $32 million, or close to 1.5 percent of last quarter's revenue.
Business Wire
Ryder System, Inc. (NYSE:R), a leader in commercial transportation and supply chain management solutions, today announced it has acquired Bradford, England-based Hill Hire plc., an independently run and wholly owned subsidiary of Lloyds Banking Group. Hill Hire is a UK market leader in commercial truck leasing, rental and maintenance, with a solid base of contractual customers. The stock acquisition was completed on June 8, 2011 at a cash price of approximately £154 million (approximately $252 million).
“As we celebrate our 40th year of operating in the UK, this significant acquisition underscores Ryder’s commitment to serving current and future customers in this important market with a broader range of vehicles and expanded maintenance capabilities and infrastructure,” said Ryder Chairman and Chief Executive Officer Greg Swienton.
Wheels Unplugged
New Delhi, June 02 -- Home-grown utility maker Mahindra & Mahindra (M&M) has reported a 20 percent jump in its total sales in May at 34,323 units as against 28,488 in the same month last year. In May, the company registered a 19 per cent jump in sales in the domestic market to 32,159 units as compared to 27,038 units in the same month last year. In the passenger vehicles segment, (which includes UVs as well as the newly-launched Verito), M&M recorded a 20 percent increase in May to 16,702 units, as against 13,939 units in the same month last year.
Editor’s Note: MEMA continues to work with appropriate federal agencies and Congressional offices in promoting policies aimed at opening world markets and creating new opportunities for motor vehicle parts suppliers. MEMA works with trade coalitions, such as those with the National Association of Manufacturers, the U.S. Chamber of Commerce and other industry associations, to ensure that international trade rules and regulations do not have a negative impact on the motor vehicle parts supplier industry. For more information, contact MEMA’s Dan Houton.
Fortune Magazine
James A. Baker III knows something about running a White House in the midst of a grueling recession, with voters on the verge of casting a thumbs up or down on the boss's second term. Baker was chief of staff to President Reagan in the early 1980s, when economic engines revved in time for the memorable "morning again in America" re-elect, and again (without the happy-morning ending) to George H.W. Bush in the early 1990s.
Dow Jones Business News
FRANKFURT -(Dow Jones)- The head of Siemens AG's (SIE.XE) renewable energy division, Rene Umlauft, is a candidate to join MAN SE (MAN.XE) as head of the German engineering company's diesel and turbo unit, two people familiar with the matter told Dow Jones Newswires Tuesday.
A final decision hasn't been made as approval from MAN's supervisory board is still pending, one person said.