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.
Indian telecom services provider Bharti Airtel Limited and South Africa’s MTN Group Limited have renewed merger talks with the aim of creating an emerging market telecom giant, both companies announced Monday. Such a merger would create an operator with combined revenues of over $20 billion and a combined customer base of over 200 million, according to both companies. In addition to savings, “this opportunity also represents a first of its kind in developing an Indian-African initiative that would serve as a shining example of South-South cooperation,” said Bharti chairman and managing director Sunil Bharti Mittal.
South Korean and American warships stopped a suspected pirate attack on an Egyptian ship in the Gulf of Aden, capturing 17 suspected pirates, the U.S. Navy announced Thursday.
Iconic German automakers Volkswagen and Porsche have reached an agreement to merge operations — the latest move in an industry that has seen whiplash changes in recent weeks. The two companies have been in talks in recent weeks about merging manufacturing operations
A French hostage and two pirates died Friday in a rescue operation off Somalia’s coastline, the French president’s office in Paris said Friday. Four hostages, including a child, were freed from the hijacked yacht after almost a week of captivity, Nicolas Sarkozy’s office said.
Someone stole an "incomplete and early version" of the next installment in the blockbuster "X-Men" movie series and posted it on the Internet this week, according to the studio that owns the billion-dollar film franchise.
The owners of a cruise ship that ran aground in Marguerite Bay, Antarctica, are hoping high tide will dislodge the ship Wednesday, a company statement said. Connecticut-based Quark Expeditions said the M/V Ocean Nova became stranded Tuesday in the bay not far from an Argentine research base. Marguerite Bay is about 900 miles south of the tip of South America.