Daily Archives: March 3, 2010

Louise Lucas

Another putative auto alliance falls onto the scrap heap. Following on the heels of GM’s U-turn on the planned sale of its European unit Opel and the scotched disposal of Hummer to the Chinese, Peugeot of France and Japan’s Mitsubishi Motors (MMC) have called time on their planned tie-up.

Spare the tears. Auto alliances have a mixed track record; there have even been rumblings in the initially highly successful Franco-Japanese pairing of Renault and Nissan. It was never clear where the strategic advantages lay for Peugeot and Mitsubishi – other than the fact that the Japanese carmaker could use the cash. Yet the more likely share swap would not have brought even that benefit. Read more

Richard Milne

Geneva this spring seems positively balmy compared with last year. And that is the impression that its private banks are trying to get over too.

Under pressure over its sacred bank secrecy, Swiss private banks – mostly based here around Lac Léman – initially looked like headless chickens. It is economic war from the US, one said. For another, the Germans were threatening the country again. Yet more started to ban employees from travelling even to France – just a few kilometres away. Paranoia reigned. Read more