CHINADaimlerChrysler to Partner With CheryDaimlerChrysler, seeking to cut costs and boost sales in North America, said it would start selling Chinese-made cars in that market and Western Europe as it tries to meet demand for smaller, more economical vehicles. The world's fifth-largest automaker said its supervisory board approved the framework of a limited partnership with Chery Motor, which will build the cars in China. They will be sold in North America and Western Europe under the aegis of Chrysler brands, which include Dodge and Jeep. Financial details were not disclosed.
The deal requires the approval of China's government, which the company said was likely.
EXECUTIVES2 Named to Run Dell Global Businesses Dell named two executives to lead international operations at the world's second-largest personal-computer maker. David Marmonti was named senior vice president in charge of business in Europe, the Middle East and Africa. Stephen J. Felice will run operations in the Asia-Pacific region.
EUROPEAN UNIONItalian Firm Buys Stake in Endesa Enel, Italy's biggest utility, bought almost 10 percent of Spanish power company Endesa for $5.47 billion, threatening the German company E.ON's year-old takeover plan. Spanish Industry Minister Joan Clos said the E.ON bid probably would fail because it lacked support from a majority of Endesa shareholders. Enel, which owns Spanish generator Electra de Viesgo, is seeking to boost sales outside Italy, where competition rules limit its growth. CANADACanWest Buys New Republic MagazineCanWest Global Communications, Canada's largest media company, bought the rest of the New Republic, the U.S. political magazine. Terms were not disclosed. CanWest had owned 30 percent of the magazine since last year.
The 93-year-old District-based magazine and its Web site are undergoing a "major overhaul," CanWest said. Changes include switching the magazine's publishing schedule from weekly to biweekly and adding daily content to the Web site.