Austrian economy still in recession
Euro zone member Austria's economy continued to contract in the second quarter. Its Gross Domestic Product or GDP fell 0.4% in the second quarter, compared with the first. It follows a decline of 2.7% in the first three months of the year. The pace of decline in exports was also slowing, WIFO said, noting....more

Shell has Arrow in its sight
Royal Dutch Shell is said to have made an A$3 billion ($2.5 billion) bid for Arrow Energy Ltd. Arrow said"The company continues to have discussions with parties with respect to the potential monetization options for its considerable coal seam gas resources. Arrow sold 30% of its Australian....more

Volkswagen- Porsche combine enter a new era
Volkswagen's successful bid to take over luxury German carmaker Porsche marks the end of a bitter family power struggle and the start of a new era. Last week, Volkswagen agreed to buy a 42% stake in the sports car unit of Porsche Automobil Holding SE for about EUR 3.3 billion by year-end. "VW and Porsche....more

Jaguar Land-Rover: No need of government help
The Indian car giant Tata Motors announced on Tuesday that it has secured £175m of private funding for its UK-based luxury car business, Jaguar Land-Rover (JLR). The news means the group will no longer seek up to £800m of state support. The global turmoil has made the all cash $2.5 billion acquisition....more