Volkswagen is to pay ?3.3 billion ($4.7B) for a 42 percent stake in Porsche’s main production division, the two German carmakers said yesterday as they thrashed out more details of a move towards a full integration. In a move that will amount to a rescue of debt-laden Porsche, VW will also buy the automobile trading business of Porsche Holding Salzburg, Europe’s biggest vehicle dealer that is also owned by the sports car maker’s family owners.
Porsche announced Thursday that its longtime chief executive is stepping down, a move that may pave the way for a takeover by Volkswagen. Wendelin Wiedeking has been in the driver’s seat at Porsche for 17 years. Also stepping down is Holger Haerter, Porsche’s chief financial officer.
The United States on Tuesday imposed financial sanctions on an Iran-based company that it said is a cover for North Korea’s missile proliferation network, the Department of the Treasury announced. The court’s unanimous, unsigned opinion declared that Franken “received the highest number of votes legally cast” and is entitled “to receive the certificate of election as United States senator from the state of Minnesota.” If the ruling brings an end to seven months of challenges by Coleman, Franken would become the 60th member of the Senate Democratic caucus, a move that gives the party a filibuster-proof majority in the chamber, at least on paper
Internet giant Google on Friday started translating Persian, also known as Farsi, in a move that could dramatically help spread information on the Iranian election crisis.
Pakistani armed forces have killed 80 militants since launching an assault on a region recently held by the Taliban, the military announced Sunday. Three soldiers have been killed and eight wounded in the crackdown in the Buner district in the northwest of the country, the military statement said. The Pakistani offensive started in the province last Sunday, after Taliban militants moved into Buner, a move that alarmed U.S
Taliban militants who implemented Islamic law in Pakistan’s violence-plagued Swat Valley last week have now taken control of a neighboring district.
Afghanistan President Hamid Karzai issued a decree on Saturday that sets an earlier date for the country’s presidential election, a move that could spark a constitutional crisis. The decree counters a decision by Afghanistan’s election commission to hold the election August 20.
House Speaker Nancy Pelosi told Afghan President Hamid Karzai America’s "new strategy" in Afghanistan will focus on reconstructing the war-battered country and maintaining strong counter-terrorism measures, his office said.