Tag: purchase
Manufacturing Grows…just slowly
by admin on Dec.25, 2009, under Manufacturing
U.S. manufacturing activity increased for the fourth consecutive month in November, although at a slower rate as the nation fumbles its way toward recovery.
Meanwhile, the housing market showed further signs of strength in October, but nonresidential construction spending declined 1.5%.
The Institute for Supply Management said Tuesday that its index of manufacturing activity fell to 53.6 in November from 55.7 the prior month, although it remained above the key 50 level that indicates expansion. Although the employment and production components within the index slipped, new orders rebounded from an October decline and rose nearly two points to a level of 60.3.
VW Seeks Stock-Sale Approval to Fund Porsche
by admin on Oct.16, 2009, under Automotive
Oct. 16 (Bloomberg) — Volkswagen AG, Europe’s largest carmaker, will seek shareholder approval to sell stock to help finance the purchase of Porsche SE’s sports-car operations.
Investors will be asked at an extraordinary meeting Dec. 3 to authorize the sale of as many as 135 million non-voting preferred shares in the next five years, Wolfsburg, Germany- based Volkswagen said today in a statement. The sale, which could raise as much as 10.5 billion euros ($15.6 billion) based on the preferred stock’s closing price yesterday, would begin in the first half of 2010.
